Revolutionary Quantum Computer to Be Developed in Brisbane

Nearly $1 billion has been committed to building a commercially viable Quantum computer that will create a revolutionary approach to computing

A laser tests the optical waveguide of a chip for quantum computing in a laboratory in Stuttgart, Germany, on Sept. 14, 2021. Thomas Kienzle/AFP via Getty Images

The Commonwealth and Queensland governments have pledged almost $1 billion (US$652 million) towards a project that will build the world’s first “commercially useful” quantum computer in Brisbane.

Tasked with developing a general-purpose quantum computer capable of solving complex problem, $470 million each in equity and loans will be contributed toward the project helmed by Silicon Valley company PsiQuantum.