Australia will invest $940 million in Silicon Valley start-up PsiQuantum in a major bet that it will build the world’s first commercially useful quantum computer in Brisbane.
The federal and Queensland governments are each contributing $470 million through share purchases, grants and loans to PsiQuantum, which was co-founded by two Australians.
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Nick Bonyhady is a technology writer for the Australian Financial Review, based in Sydney. He is a former technology editor, industrial relations and politics reporter at the Sydney Morning Herald and Age. Connect with Nick on Twitter. Email Nick at nick.bonyhady@afr.com
