PsiQuantum to Build World’s First Utility-Scale
PsiQuantum announced it will build the world’s first utility-scale
quantum computer at a strategically located site near Brisbane Airport in
Brisbane, Australia. The Australian Commonwealth and Queensland Governments
will invest $940M AUD ($620M USD) into PsiQuantum through a financial package,
comprised of equity, grants, and loans. PsiQuantum is on an aggressive plan to
have the site operational by the end of 2027. A fault-tolerant quantum computer
will be able to solve commercially useful problems across industries built upon
chemistry, math, and physics; thereby transforming critical industries –
including renewable energy, minerals and metals, healthcare and transportation
– that will propel the global economy for decades to come.
The quantum computing industry has long faced complicated scaling
challenges in building a quantum computer with enough physical qubits to enable
error-correction, making it capable of delivering on quantum computing’s
promise. PsiQuantum has scaled its fusion-based architecture using a photonics- approach, encoding qubits into particles of light,
and leveraging advanced infrastructure in the semiconductor manufacturing
industry to fabricate and test millions of photonic devices. PsiQuantum’s first
utility-scale system will be in the regime of 1 million physical qubits and
hyperscale in footprint with a modular architecture that’s able to leverage
existing cryogenic cooling technologies.
“A utility-scale quantum computer represents an opportunity to construct
a new, practical foundation of computational infrastructure and in so doing
ignite the next industrial revolution,” said Prof. Jeremy O’Brien,
PsiQuantum CEO. “This platform will help solve today’s impossible problems
and will serve as tool to design the solutions we so desperately need to
safeguard our future. We’re thrilled to partner with the Australian and
Queensland governments as our team at PsiQuantum takes a massive step forward
in our mission to help deliver on the promise of quantum computing.”
PsiQuantum works with industry leaders from around the globe whose
products and technologies are rooted in fundamental chemistry and science, such
as the development of new drugs, more efficient renewable energy technologies
including batteries and solar cells, and step-change improvements in processes
to produce renewable energy sources such as green ammonia and green hydrogen.
“Today’s endorsement from the Australian government establishes another
critical milestone in PsiQuantum’s mission to deliver the world’s first useful
quantum computers,” said PsiQuantum Chief Business Officer Stratton
Sclavos. “With a utility scale quantum computer in sight, our applications
teams have been working with leading companies in pharmaceuticals,
semiconductor manufacturing, aerospace, chemicals, and financial services to
ensure that fault tolerant quantum applications are ready to deploy when the
system is operational.”
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