The Australian government has recently announced a significant investment of nearly A$1 billion into the development of quantum computers, aiming to establish a presence in a global race that is currently dominated by countries like the US and China. In exchange for this substantial funding, PsiQuantum, a company headquartered in the US but co-founded by two Australian researchers, will receive A$470 million from both the federal government and the state government of Queensland.
This announcement signifies Australia’s commitment to being a major player in the global quantum computing landscape. Stephen Bartlett of the University of Sydney views this investment as Australia asserting its sovereign capability in quantum computing and fostering a quantum technology ecosystem. This move represents a serious step forward in advancing this technology, with Australia’s funding positioning PsiQuantum as one of the largest dedicated quantum computing companies globally.
While major tech companies like IBM, Google, and Microsoft have poured billions into quantum computing research, Australia’s funding signals a significant step in the advancement of this technology. Quantum computers have the potential to outperform traditional computers in certain tasks, although their practical applications have not yet fully materialized. Research teams worldwide are racing to develop larger and more reliable quantum machines in hopes of unlocking their full capabilities. While many teams are working with superconductors, PsiQuantum’s unique approach involves using photons, or particles of light, which was previously considered a challenging method to scale up. The company’s recent breakthrough in using standard semiconductor fabrication processes to build photonic chips for quantum machines has garnered attention in the field.
Australia has exported a generation of quantum researchers, including PsiQuantum co-founders Jeremy O’Brien and Terry Rudolph. By making this investment, Australia is making a clear statement that it intends to be at the forefront of this exciting technological development and attract these talented individuals back home to contribute to building a robust quantum computing industry.
In summary, Australia’s recent investment into developing quantum computers is an essential step towards establishing itself as a major player in the global race for this technology. The investment signifies Australia’s commitment to fostering innovation and creating new opportunities for its citizens while also contributing significantly to scientific advancements worldwide.