Telstra announces investment in silicon quantum computing

Telstra has announced that it plans to invest $10 million and in-kind support over the next five years to help the development of silicon quantum computing technology in Australia.

Together with the federal government’s $26 million investment, this will go towards the development of a silicon quantum integrated circuit — the first step in developing the world’s first silicon-based quantum computer.

The announcement came just one day after the Commonwealth Bank of Australia also pledged $10 million to the project on top of a further $5 million it had committed this time last year.

The funding will go to the Centre for Quantum Computation and Communications Technology (CQC2T), headquartered at the University of New South Wales.

Telstra said its investment supports the federal government’s renewed focus on innovation and shows the company’s commitment to help “build a world-class technology nation”.

“Telstra is committed to technological innovation, through partnerships and through our own developments,” said Andrew Penn, Telstra CEO.

“The potential of quantum computing is significant for countries across the globe… Telstra is ready and willing to play a role in building for the future. We must come together to plan for future generations through technological advancements.”

As well as a financial commitment, the telco company will also be contributing resources from its data scientist team, including the skills and knowledge of Telstra Chief Scientist Dr Hugh Bradlow.

“The possibilities of quantum computing are very real for us, and we want to help those possibilities become a reality. Quantum computing represents an important leap in innovation,” added Penn.

Telstra’s commitment is subject to finalisation of commercial terms.