Aussie’s $1b quantum bet: visionary or foolhardy?

Silicon Valley. (Image: Getty)

Thu, 09 May 2024

The Australian government clearly hasn’t heard the arguments against picking winners when it comes to backing one industry or company over another.The federal government and the Queensland state government have just invested A$940 million (NZ$1.03 billion) in a Silicon Valley-based company, PsiQuantum, which is trying to build the world’s first quantum computer that can be used for practical computing applications.The investment was made in the form of an equity stake, grants and loans and appears to have blindsided many in Australi...

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