PsiQuantum raises US$600 million for first hyperscale quantum computer
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PsiQuantum Corp. (Palo Alto, Calif.) plans to build a utility-scale quantum computer with nearly a billion Aussie dollars of investment from state of Queensland and from the national Australian government.
The computer facility is to be located at a site near Brisbane airport in Australia. The Australian Commonwealth and Queensland Governments will invest AUD940 million (about US$620 million) in PsiQuantum through a financial package, comprised of equity, grants, and loans, PsiQuantum said in a statement.
The company added that it plans to have the site operational by the end of 2027 and be able to offer a fault-tolerant quantum computer that will be able to solve problems not amenable to conventional computing across industries built upon chemistry, math, and physics.
PsiQuantum has adopted a photonics-based quantum computing model and leverages the semiconductor manufacturing industry to make the necessary photonic devices (see PsiQuantum taps Globalfoundries to get to a million qubits).
The Brisbane quantum computer will be of the order of one million qubits and of about the size of a hyperscale datacenter, with a modular architecture that will be able to make use of existing cryogenic cooling technologies.
Professor Jeremy O’Brien, founder and CEO of PsiQuantum, is a native of Australia and was educated there at the universities of Western Australia and New South Wales before being appointed Professorial Research Fellow in Physics and Electrical Engineering at the University of Bristol, and director of its Centre for Quantum Photonics. Subsequently Professor O’Brien founded PsiQuantum in 2015 before moving the company headquarters to Silicon Valley.
“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 Professor O’Brien in a statement. “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.”
Stratton Sclavos, Chief Business Officer at PsiQuantum, said: “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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News articles:
Australia’s quantum IC startup Diraq adds funds for US launch
PsiQuantum opens first UK research lab
PsiQuantum taps Globalfoundries to get to a million qubits
Quantum computing pioneer raises $450 million
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