March
Labor bets $15m on using quantum technology to fight cyberattacks
The government’s National Reconstruction Fund is the lead investor in a funding round for Canberra-based QuintessenceLabs, which is also backed by Westpac.
PsiQuantum targets $9.5b valuation, handing Labor a potential windfall
The Silicon Valley-headquartered quantum computing start-up is heavily backed by the federal and Queensland governments, and is raising about $1.2 billion.
Bank innovations a slow and steady process
The big four know they must respond to the rapid changes introduced by start-ups, but modernising respected financial institutions is a tall order.
Banks brace for AI-powered digital revolution
The sector must confront the twin challenges of dealing with their legacy systems and developing a tech-savvy workforce.
February
PsiQuantum confident it has the fastest track in quantum race
Government-backed PsiQuantum powers ahead with plans to build a data centre-sized quantum computer, as Queensland treasurer reviews investment in the company.
Microsoft’s ‘Goldilocks’ particles could win the quantum computer race
Microsoft has taken 17 years to create a new subatomic particle with the right blend of size, speed and stability for quantum computing, in a threat to Aussie rivals.
Labor is throwing money at quantum but drowning AI in regulation
The unanswered question is how can any country effectively regulate a fast-changing emergent technology and expect to be competitive in the global digital economy.
December 2024
Google announces quantum computing breakthrough. Should we be excited?
Google has built a quantum processor called “Willow” that can solve a problem in five minutes that regular supercomputers would take longer than the lifetime of the universe.
November 2024
Albanese tells Queensland to stick with $1b quantum deal
New Premier David Crisafulli is reviewing the deal with US-based start-up PsiQuantum and says speculation about its future is premature.
October 2024
‘High risk, high return’: Chief scientist sceptical on $1b quantum deal
Internal government documents show Cathy Foley took months to be convinced US-based company PsiQuantum could deliver a super computer in Australia this decade.
September 2024
PwC’s moral dissonance clear to all
Readers’ letters on PwC’s behaviour; the value of mining; attacks on Hezbollah; antisemitism at Sydney University; quantum computing; bank cashbacks; and AI costing CBA jobs.
Kamala Harris’ potential defence chief backs Labor supercomputer deal
Michèle Flournoy, a possible Pentagon boss, says quantum computing will be like the nuclear bomb in how it will reshape the China v USA narrative this century.
Aussie cyber firm goes it alone with US expansion
Trent Telford is on a high after his firm Cocoon Data scored a Google deal and made progress cracking the US market, but he says it’s no thanks to the Australian government.
August 2024
Coalition claims ‘$1 billion captain’s pick’ as PsiQuantum answers emerge
New information reveals the Commonwealth engaged in a lengthy due diligence process before making a $1 billion bet on PsiQuantum.
July 2024
Expert department ‘not party’ to PsiQuantum deal
Persistent criticism of the nearly $1 billion investment in PsiQuantum was again levelled at ministers and bureaucrats this week.
PsiQuantum promises US a computer after $US500m investment
Three months after inking almost $1 billion worth of deals with the federal and Qld governments, the tech start-up has signed up to build another quantum computer in Chicago.
June 2024
PsiQuantum backer Playground Global back in town looking for cash
The Palo Alto-headquartered, Australian co-founded, investor has already secured government backing for its quantum bet. Now it is fundraising for a new fund.
Cashed-up Diraq says it can win the quantum computing race
It hasn’t got as much money as government-backed PsiQuantum, but the UNSW start-up says it makes up for that in qubit size, as it banks a big funding round.
Government’s $189.5m quantum computing VC investment revealed
Previously secret details behind the mammoth investment in US-based quantum computing firm PsiQuantum have been uncovered, including the government’s equity investment.
May 2024
Where have all the good managers gone?
Readers’ letters on Australia’s dearth of quality managers; a tax system fit for AI; skilled migrants driving Ubers; a proportionate response in Gaza; why live exports matter; and worry over climate change.