Australia is taking a big step into quantum computing by investing nearly A$1 billion (about €607 million) in PsiQuantum, a company focused on developing quantum computers using photons. This strategic move puts the country at the forefront of the global race for the next generation of supercomputers.
An ambitious investment
The Australian Federal Government, in partnership with the Queensland Government, has announced that it will provide financial support to PsiQuantum, a company co-founded by two Australian researchers and based in the United States. The company will receive a total of A$940 million from the two governments. In return, PsiQuantum will build and operate successive generations of its own quantum computers in Brisbane, Australia.
PsiQuantum technology
Unlike many current quantum computers that rely on superconductors, PsiQuantum uses an innovative approach using particles of light, or photons. This method was previously considered difficult to measure. However, PsiQuantum recently announced a major breakthrough in a scientific article. The company has shown that it can build the photonic chips needed for its quantum machines using a standard semiconductor manufacturing setup, similar to that used in regular computer chips.
Impact investing
Stephen Bartlett from the University of Sydney emphasizes the importance of this development: “What really excites me is that the scale of investment shows that we are serious.” He adds that this amounts to claiming sovereign power in quantum computing and building a quantum technology ecosystem in Australia.
Quantum computers have the ability to perform certain tasks much faster than classical computers. So far, these capabilities have only been demonstrated in problems without practical applications. But with research teams in the United States and China, for example, building larger, less error-prone machines, the hope is that they will soon prove of practical utility.
This investment may also be an attraction for Australian scientists now working overseas, such as Jeremy O'Brien and Terry Rudolph, co-founders of PsiQuantum. According to Bartlett, this may tempt them to return to Australia and continue their careers there.
