PsiQuantum is developing the world's first commercially useful quantum computer with a photonics-based architecture, leveraging pre-existing manufacturing processes and infrastructure. The company's approach focuses on quantum error correction and solving real-world problems in fields such as medicine, energy, and finance.

Playground Global

Redpoint

A&E Investments

BlackRock

Atomico

Founders Fund

Blackbird Ventures

Temasek

Baillie Gifford

Queensland Government

Data & Analytics

Hardware

AI & Machine Learning

PsiQuantum

PsiQuantum has announced that it will build its second utility-scale quantum computer in Chicago, opening potential avenues for Illinois universities and institutions in Australia to work together on r&d projects.

PsiQuantum to build first US-based utility-scale quantum computer

PsiQuantum's operations in Chicago will create at least 150 jobs in the next five years and will be critical in developing a strong workforce that includes not only PhDs in quantum physics, but careers in mechanical, optical, and electrical engineering; software development; and technical lab work.

PsiQuantum To Build First US-Based Utility-Scale Quantum Computer in Chicago, Illinois

PsiQuantum plans to build the biggest quantum computing facility in the US.

PsiQuantum plans to build the biggest quantum computing facility in the US

PsiQuantum to expand into 127,574 square feet of space in Milpitas California. PsiQuantum to expand into 127,574 square feet of space in Milpitas California.Milpitas, California — According to state and local development sources, PsiQuantum plans to build out 127,574 square feet of new space in Milpitas. The company plans to occupy the new space at 275 S. Hillview Dr in Milpitas, on or about May 1, 2025. According to the company website Quantum computing will be a world-changing technology with the potential to unlock powerful advances in medicine, energy, finance and beyond. At PsiQuantum, were focused on building the worlds first useful quantum computer

Psiquantum To Expand Into 127,574 Square Feet Of Space In Milpitas California.

Jason Miller, a nearly two-decade Google veteran, has joined quantum computing company PsiQuantum to serve as senior vice president of product management.

Jason Miller Joins PsiQuantum as Product Management SVP

Under the terms of its agreement with the state, PsiQuantum will create 154 new jobs.

Quantum business park coming to Chicago, backed by $700M from state of Illinois

PsiQuantum is partnering with five universities in Queensland - including the University of Southern Queensland (UniSQ) - to support the growing demand for skills in the quantum computing economy and explore research projects.

PsiQuantum partners with Queensland universities to advance quantum computing in Australia

The Queensland government’s $465 million investment in PsiQuantum includes a US$125 million (A$188 million) convertible note, offering the state a potentially valuable share in US firm vying to build the world’s first quantum computer.InnovationAus.com can reveal Queensland’s stake in the firm founded by two Australians after a secretive selection process and delay between the announcement of the deal and an actual contract signing kept the information hidden. The state government’s $465 million investment comprises a US$125 million convertible note, a conditional A$200 million construction and term debt facility and a conditional A$75 million economic development and credit support facility.

Queensland reveals detail of equity stake in PsiQuantum

We now know how much the federal government is spending to bring PsiQuantum, the California-based quantum computing company with Australian founders, to Brisbane.The budget says $466.4 million in equity and loans from Export Finance Australia on the National Interest Account.It’s less than half of the $1 billion figure many in the media have attributed to the feds since the announcement last month.And that also means Queensland taxpayers are all going to be bajillionaires if this quantum bet pays off. If the state government is tipping in circa $470m, that’s around $91 a taxpayer – enough to buy them all a maroon State of Origin jersey.But there’s a detail in the budget papers that, excuse the acronym, has us going WTF?Budget paper No. 2 says:“Additional funding of $27.7 million over 11 years from 2023–24 will also be provided for the Department of Finance, the Department of Foreign Affairs and Trade, the Department of Industry, Science and Resources and the Department of the Treasury to manage and provide oversight of this investment.“The financial implications of the financing package are not for publication (nfp) due to commercial sensitivities.”So monitoring the investment in PsiQuantum is going to cost $2.52 million a year over more than a decade.When the PsiQuantum touted 400 jobs being created by the investment, how many of them are bureaucrats standing around watching that investment being spent?At average weekly earnings, you could employ around 25 people for 11 years to watch the other $466.4 million happen.Or to put it another way, you could invest in 10 new startups annually through Blackbird-backed Startmate at pre-seed stage for a decade – more than 100 – if you really want to go cray cray on picking winners.Local VC Blackbird is an investor in PsiQuantum, having jumped on board late in the deal during a $680m (US$450m) Series D in 2021 that valued the company at $4,8 billion (US$3.15bn).And while the monitoring cost is fair whack of money as a budget line item, it’s not if you think of it in terms of venture capital management fees, which generally sit between 1-2.5% of committed capital.We don’t know how much is equity and how much is debt in the government’s PsiQuantum deal, but let’s assume it’s half – circa $230m.From a VC management fee perspective that would make $2.5m a year reasonable and at the bottom end of that scale.Nonetheless, it’s worth remembering that for several months there have been broad concerns about the transparency around the government’s PsiQuantum investment and $27.7 million to keep an eye on it would do little salve those worries

Budget 2024: It Seems The Federal Government Went Dutch With Queensland On The $940 Million Psiquantum Deal, But The Really Surprising Part Is A $28M Fine Print Cost

澳洲布里斯本--(BUSINESS WIRE)--(美國商業資訊)--. PsiQuantum今天宣布，將在澳洲布里斯本機場附近一處地理位置優越的地點建造世界上第一台公用事業級量子電腦。澳洲聯邦政府和昆士蘭州政府將透過包括股權、贈款和貸款在內的一攬子金融方案向PsiQuantum投資9.4億澳元（約合6.2億美元）。PsiQuantum正在實施一項積極的計畫，力爭在2027年底之前使該網站投入運行。容錯量子電腦將能夠解決建立在化學、數學和物理學基礎上的各行各業具有商業價值的問題，從而改變包括再生能源、礦產和金屬、醫療保健和運輸在內的關鍵產業，這些產業將在未來幾十年推動全球經濟的發展。. 長期以來，量子運算產業一直面臨著複雜的擴展挑戰，即如何建構一台具有足夠多物理量子位元的量子電腦，以實現錯誤更正功能，從而兌現量子運算的承諾。PsiQuantum擴展了以融合為基礎的架構，採用光子學方法將量子位元編碼到光粒子中，並利用半導體製造業的先進基礎設施來製造和測試數百萬個光子裝置。PsiQuantum的第一個公用事業級系統將達到100萬物理量子位元的規模，具有超大規模的占地面積，並採用模組化架構，能夠利用現有的低溫冷卻技術。

Psiquantum將在澳洲建造世界首台公用事業級容錯量子電腦

Develops commercially useful photonics-based quantum computers

PsiQuantum

Develops commercially useful photonics-based quantum computers

PsiQuantum

Develops commercially useful photonics-based quantum computers

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