Queensland adds safeguards to $470m PsiQuantum quantum bet
Queensland added contract conditions to its $470 million PsiQuantum investment to protect taxpayer money.
Queensland tightened the terms of its $470 million joint investment with the federal government. The goal was to build a quantum computer near Brisbane.
Treasurer David Janetzki revealed that new safeguards were added to the contract last year. A review of the deal with California company PsiQuantum led to the changes.
The new conditions ensure taxpayer money is used properly. They also make sure project milestones are met.
- $470 million
- Investment amount
- PsiQuantum
- Company
- Brisbane outskirts
- Location
- David Janetzki, Queensland Treasurer
- Official
Why it mattersStricter oversight reduces the risk that public money invested in experimental technology goes to waste. It helps make sure the work actually delivers results.
AustraliaQueensland's major bet on quantum computing innovation now has stronger accountability measures; the project could create jobs and research capacity in Brisbane if successful.
✓ Claims checked against the source and corrected before publish. checked 3 h ago
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