Australian and Queensland governments commit about A$940M to a PsiQuantum machine in Brisbane

PsiQuantum/Utility-scale photonic quantum computer

PsiQuantum announced it will build a utility-scale, fault-tolerant photonic quantum computer near Brisbane Airport, with the Australian and Queensland governments investing A$940 million (about US$620 million) via equity, grants and loans. The site is targeted to be operational by end of 2027.

• First system will contain approximately 1 million physical qubits using photonic (light-based) encoding.
• A$940M investment from Commonwealth and Queensland governments through combined equity, grants and loans.
• Operational target: end of 2027; modular architecture compatible with existing cryogenic cooling.
• Designed to solve problems in renewable energy, minerals/metals processing, healthcare and transportation.