MilestoneIndustryConfirmed

Australia and Queensland commit A$940 million to PsiQuantum

Apr 30, 2024

Australia's federal government and Queensland commit A$940 million to PsiQuantum through a package of equity, grants and loans. The company plans a fault-tolerant quantum computer and an Asia-Pacific headquarters in Brisbane.

Why it matters

The deal puts substantial public money behind an attempt to build a commercially useful quantum computer, before that machine has been delivered.

PsiQuantum · Australian Government · Queensland Government

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Related

• PsiQuantum aims to have its Brisbane quantum computer site running by end of 2027 (due 2027)
• PsiQuantum raises $1 billion at a $7 billion valuation (Sep 10, 2025)