PsiQuantum will 'need more money' to finish Brisbane supercomputer
Pete Shadbolt defended the government's controversial $940 million investment into his startup but said it won't cover the cost of building a useful quantum computer – which he calls a "species-level challenge."
PsiQuantum is not a startup starved of resources. In this year alone it announced a $940 million investment from the Federal and Queensland governments, and tax incentives from US governments worth $760 million.
But it's going to need more capital to reach its goal of building the world's first commercially viable quantum computer in Brisbane by 2027, co-founder and chief scientific officer Pete Shadbolt said in an interview.
"We'll need more money," he said. "We will, as a company, spend more money than the sum total of those two packages."
Shadbolt declined to comment on whether it would seek this money through a traditional VC funding round or by other means.
