Keep pulling the thread on Pete Shadbolt.
PsiQuantum is one of only two companies to have graduated to the final phase of a DARPA program designed to critically vet and attempt to invalidate quantum computing technologies.
PsiQuantum plans to have its first large-scale quantum computing site in Australia enabled by the end of 2027.
A large-scale quantum computer has the capability to break most of the public-key encryption currently used on the internet.
The resource requirements for a quantum computer to break encryption are greater than those needed for the first commercially useful applications in areas like chemistry and materials science.
The general consensus in the quantum computing field is that a machine with approximately one million qubits is required for commercially impactful applications.
PsiQuantum secured a deal with the Australian government valued at approximately A$1 billion to build a large-scale quantum computer in Brisbane.
PsiQuantum will be the anchor tenant of a new $500 million quantum computing campus being built in Chicago.
PsiQuantum has raised nearly $2 billion in private capital, which is believed to be more than any other quantum computing company.
PsiQuantum's core strategy is to bypass incremental, smaller-scale quantum systems and focus exclusively on developing a commercially useful, million-qubit machine.
PsiQuantum's founding thesis is that leveraging the existing semiconductor industry's manufacturing capabilities is the only plausible way to scale directly to a million-qubit quantum computer.
PsiQuantum has spent over $100 million over the past eight years to establish its manufacturing process at GlobalFoundries' fab in upstate New York.
PsiQuantum's long-term business model involves vertically integrating to exploit the knowledge generated by its quantum computers for in-house applications like drug and materials discovery.