Exclusive

Government’s $189.5m quantum computing VC investment revealed

Paul SmithTechnology editor

Jun 17, 2024 – 10.00pm

Email LinkedIn Twitter Facebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

The Albanese government’s giant bet on US-based quantum computing firm PsiQuantum involved an equity investment of $US125 million ($189.5 million) with the rest of the $470 million deal comprising debt, The Australian Financial Review can reveal.

The details of the deal, which was made alongside a matching $470 million commitment by the Qld government, have been withheld until now, but the government’s export credit agency, Export Finance Australia, has now officially signed the contracts with PsiQuantum.

Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy.