Groundbreaking Quantum Computer Development Set to Take Place in Brisbane
Nearly $1 billion has been pledged to construct a commercially viable Quantum computer that will revolutionize the approach to computing.
The Commonwealth and Queensland governments have committed close to $1 billion (US$652 million) towards a project aiming to build the world’s first “commercially useful” quantum computer in Brisbane.
Tasked with creating a general-purpose quantum computer capable of solving complex problems, $470 million will be contributed in equity and loans each towards the project led by Silicon Valley company PsiQuantum.
The connection to Brisbane came through two of PsiQuantum’s founders, both alumni and professors at Queensland University, Jeremy O’Brien and Terry Rudolph.
Mr. O’Brien stated to the AFP that if successful, the Brisbane project would revolutionize industry as we know it.
“This platform will help tackle today’s impossible problems and will act as a tool to design the solutions we urgently need to secure our future,” Mr. O’Brien commented.
The project is part of Prime Minister Anthony Albanese’s recently announced Future Made in Australia initiative.
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PsiQuantum has garnered significant attention and funding since 2021 from companies recognizing the potential of quantum computing to develop new solutions that will revolutionize industry.
The company has already secured US$665 million in capital from investors like Blackrock and Microsoft’s venture fund M12, and has formed collaborations with the U.S. Airforce’s Research Laboratory and the Defense Advanced Research Projects Agency (DARPA).
Queensland Epicentre of Quantum Computers
Announcing the funding, Queensland Premier Steven Miles and Treasurer Cameron Dick stated in a joint release that this innovation will position Brisbane as a tech manufacturing hub, creating up to 400 jobs at the Asia-Pacific headquarters and driving the associated IT industry forward.
“Queensland and Australia will now be at the forefront of this groundbreaking technology,” Mr. Miles remarked.
“Quantum will bring billions in economic opportunities to Queensland, offering Queenslanders the chance to work in careers that will make a global impact. This investment partnership is as crucial for Queensland and the country as the first silicon microprocessors were for California in establishing Silicon Valley.”
Mr. Dick commended his government’s efforts in finalizing the deal with PsiQuantum.
“This agreement is the culmination of years of hard work and planning by Queensland Treasury officials, and I commend them on this accomplishment.
“There will be limited spots at the forefront of global leadership in quantum technology, and today’s announcement ensures that Queensland will have a seat at the table.”
Federal Industry and Science Minister Ed Husic mentioned that the headquarters would make use of local expertise.
“Australia possesses incredibly talented individuals with innovative ideas who want to build robust companies and secure jobs. This will assist us in delivering a Future Made in Australia,” he stated.
Australia’s Chief Scientist Cathy Foley emphasized that Quantum computing is a transformational and strategically crucial technology that will “disrupt all sectors of society,” and expressed a desire for the country to become a hub for development and innovation.
“We must seize the quantum technology wave to reach the required industry scale by attracting quantum companies to establish manufacturing here. We need to do this now; otherwise, we will be left behind,” she urged.
“This investment demonstrates that Australia is committed to the development of its quantum industry, ensuring that we lead the global race to build the first practical quantum computer.”
What is a Quantum Computer?
Quantum computers represent a revolutionary approach to computing that leverages the principles of quantum mechanics to perform computations in ways that traditional computers cannot.
While classical computers use bits to represent information as either 0 or 1, quantum computers use quantum bits or qubits (basic units of quantum information encoded in particles of light or photons) that can simultaneously represent both 0 and 1 due to superposition.
The significant advantage of Quantum is its potential to solve complex problems much faster than classical computer applications.
They are expected to revolutionize critical industries like drug development, healthcare, transportation, as well as power and new energy solutions such as green ammonia and green hydrogen.
Though PsiQuantum’s ultimate success remains to be seen, its current work makes a substantial contribution to the rapidly evolving field.
However, quantum computers are still in the early stages of development, facing challenges like qubit error rates, decoherence, and scalability that need to be overcome.
