PsiQuantum today announced it will build the world’s first utility-scale quantum computer at a strategically located site near Brisbane Airport in Brisbane, Australia.

Image credit: PsiQuantum

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.

Read the full announcement here