(PsiQuantum) (receives 940M AUD) (from Australian government) (now highest funded) (independent quantum firm)


PsiQuantum, a Silicon Valley quantum computing startup with Australian roots, has received a $940 million AUD ($617 million USD) investment from the Australian government. This brings the company’s total funding to nearly $1.3 billion USD, potentially making it the highest funded independent quantum firm globally. The investment is part of Australia’s “Future Made in Australia” policy to boost the tech industry. PsiQuantum aims to build the world’s first commercially viable quantum computer in Brisbane by 2029.

Business opportunities:

  1. Quantum computing consulting: Entrepreneurs could start consulting firms to help businesses understand and prepare for the potential impact of quantum computing on their industries.
  2. Quantum software development: As quantum computers become more powerful, there will be a growing need for software that can take advantage of their unique capabilities. Entrepreneurs could develop quantum algorithms and applications for various industries.
  3. Quantum cybersecurity: Quantum computers could potentially break many of the encryption methods used today. Entrepreneurs could develop new quantum-resistant cryptography solutions to protect sensitive data and communications.
  4. Quantum-enhanced products and services: Entrepreneurs could leverage quantum computing to improve existing products and services or create entirely new ones. For example, quantum-optimized supply chain management, drug discovery, or financial modeling.

I am super sceptical about the quantum space atm…


I agree, but can we really expect the Govt to do ‘good things’

Why? You don’t think it’ll happen this decade?

They gotta try something, the Australian economy is still in the stone age technologically

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Exactly. It’s up to fo0lk like us to give them a ‘push’

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Underrated pun

I just suspect that it’s more likely that AI that is able to solve quantum computing will arrive before we have quantum computing that can solve AI.

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Right, so you are effectively saying investing in humans solving quantum is an unlikely source of quantum breakthroughs and that AI solving quantum is much more likely which would make the human-led investment redundant. Spicey take but yeah their timelines (2028) don’t fill me with confidence

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and how about a tangential thought… maybe quantum physics is merely man’s attempt to describe the Spiritual/Heavenly realm?!

…and what if AI becomes aware and discerns that there is a God

I know WAY too little about quantum physics or physics to weigh into that one

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Knowing precisely diddly-squat about this, my natural gut instinct is to ask why they are not investing in or expediting the use of AI… we seem to be way behind!

That is VERY true, @Paul is trying to fix that but I am not sure how he would frame the success or likelihood of success on that subject?

Im working on something to help Aussie AI atm.

Its early days but will let you guys know when it all becomes a bit more concrete.