Australian researchers pioneered the development of solar panels, but the nation now imports them in huge quantities – a situation that's become emb

Australia to fund $620M quantum computer claimed to be first at 'utility-scale'

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2024-04-30 11:30:04

Australian researchers pioneered the development of solar panels, but the nation now imports them in huge quantities – a situation that's become emblematic of the nation's poor record of turning local innovation into jobs and profits across the supply chain.

In more recent times, Australian researchers have done pioneering work on quantum computers, and government policy has emphasized cashing in on that work by ensuring that businesses built on Australian innovation have significant local presences.

Which is why Australia's federal government, and the state of Queensland, yesterday pledged AU$940 million ($620 million) to support a startup called PsiQuantum so it can build what's been described as "the world’s first utility-scale quantum computer."

PsiQuantum was founded by Australian researcher Jeremy O'Brien, but is headquartered in the US and has collaborated with Microsoft on work at the US Defense Advanced Research Projects Agency (DARPA).