Australia and PsiQuantum Forge Major Quantum Computing Partnership

Australia invests nearly A$1 billion in PsiQuantum, aiming to establish a leading quantum computing hub in Brisbane.

Australia's federal and Queensland governments commit nearly A$1 billion to PsiQuantum for developing photonic quantum computers.
PsiQuantum, leveraging photon-based technology, plans to build the world’s first 'utility-scale' quantum computer by 2027.
The investment positions Australia as a significant player in the global quantum computing race, competing with US and China.
PsiQuantum's approach uses existing semiconductor fabrication setups, aiming for mass production of quantum computers.
The project is expected to create up to 400 specialized jobs and could significantly boost Australia's GDP by 2040.