The Australian federal government and the state government of Queensland have invested nearly a billion Australian dollars (US$600 million) in quantum computing startup PsiQuantum to build the world’s first ‘useful’ quantum computer.
As part of the deal, Silicon Valley-based PsiQuantum will move its base to Brisbane.
Quantum computing, regarded as the next frontier of computing, has largely been a private bet so far, with tech giants such as Google, IBM, and Microsoft investing billions into developing the technology.
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