How Brisbane’s world-first quantum computer site will look

The company behind a world-first quantum computer has opened its Asia-Pacific headquarters in Brisbane as it scales up operations.

An artist’s impression of the PsiQuantum facility at Brisbane Airport

The tech company attempting to build a world-first quantum computer will break ground on its Gabba-sized Brisbane site in the first half of 2025.

It comes as Treasurer David Janetzki continues to mull over Queensland’s financial stake in PsiQuantum — the US-based computing start-up helmed by two Australians and backed by $1bn in federal and state equity and loans.

PsiQuantum is attempting to build a fault-tolerant quantum computer with the ability to solve problems current computers cannot and use it in areas like drug discovery.

The company, in a series of updates, this week opened its Asia-Pacific headquarters in Brisbane as it scales up operations in 2025.

PsiQuantum has also released renders of its facility near Brisbane Airport, revealing the Gabba-sized footprint of the facility will include a main office building, a quantum computer operations building and a cryoplant to reach the extreme cold temperatures needed.

PsiQuantum chief technical director Geoff Pryde, who alongside the company’s chief scientist Dylan Saunders grew up in Queensland, said the state had been punching above its weight on quantum technologies expertise for years.

“This project brings that technology and talent back to Queensland to scale-up and unlock quantum computing at scale. As a Queenslander who has worked in this field for almost my whole career, this project makes me incredibly proud and excited about the future,” he said.

An artist’s impression of the PsiQuantum facility at Brisbane Airport

PsiQuantum received about $470 in equity and loans each from the Queensland and federal governments — but the split in equity and loans is unknown due “commercial in confidence” sensitivities.

PsiQuantum has raised more than $1bn from global investors like Blackbird, Blackrock GlobalFoundries, Microsoft M12 and Temasek — the Singapore Government’s investment arm.

Then-Treasurer Cameron Dick said securing PsiQuantum’s Asia Pacific Headquarters and bringing the intellectual capability to Queensland was akin to the state’s own “Project Apollo”.

But his successor Mr Janetzki has called in bureaucrats as he reconsiders Queensland’s liabilities to PsiQuantum.

His office confirmed no decision had yet been made.

American Chamber of Commerce in Australia chairman Dr Larry Marshall said PsiQuantum was Australia’s Intel moment — drawing comparisons to the chip giant picking Israel in its infancy after failing to attract interest Down Under as its first choice.

Mr Janetzki, prior to taking government, had been critical of the funding provided to PsiQuantum and took issue with the former government failing to outline how much was equity versus loans and over what period the money would be provided.

“State investment in the private sector must produce an economic dividend that is in the best interests of all Queenslanders. Even PsiQuantum must meet that test,” he said.