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Remove items from your saved list<\/a> to add more.<\/p>\n AAA<\/p>\n Plans for a world-first quantum supercomputer at Brisbane Airport have been abandoned, with Moreton Bay swooping in to poach the billion-dollar project.<\/p>\n PsiQuantum announced its plans in 2024, which would have seen the Suncorp Stadium-sized computer facility built near the Qantas hangar, with almost $1 billion in state and federal government backing.<\/p>\n Construction had been expected to start at the airport last year, but PsiQuantum announced on Wednesday that preliminary work had already started elsewhere \u2013 at the Moreton Bay Central precinct in Petrie, about 22 kilometres north of Brisbane\u2019s CBD \u2013 with a formal groundbreaking in June.<\/p>\n The precinct, formerly the Petrie Paper Mill<\/a>, is home to the University of the Sunshine Coast\u2019s Moreton Bay campus and will also host Olympic and Paralympic events at a planned indoor sports centre<\/a>.<\/p>\n A TAFE centre of excellence, dedicated to advanced manufacturing, was also planned for the site.<\/p>\n Related Article Interim PsiQuantum chief executive Victor Peng said that added up to a site capable of supporting the infrastructure and operational requirements needed for the cutting-edge project.<\/p>\n \u201cPsiQuantum\u2019s mission to build the world\u2019s first utility-scale quantum computer requires speed, agility, and strong partnerships,\u201d he said.<\/p>\n \u201cCity of Moreton Bay provides the infrastructure, scalability, and collaborative environment we need to deliver.<\/p>\n \u201cWe look forward to continued partnership with City of Moreton Bay and our partners in the federal and Queensland governments to move this project forward and realise this technology.\u201d<\/p>\n Comment could not be sought from the state and federal governments \u2013 which collectively poured $1 billion in equity and loans into the company<\/a> \u2013 due to PsiQuantum\u2019s strict embargo conditions.<\/p>\n Upon taking power in 2024, Premier David Crisafulli announced a review into the investment<\/a>, with his treasurer, David Janetzki, saying the deal was \u201cdripping with Labor lobbyists\u201d.<\/p>\n But the value of that government investment doubled last September<\/a> as the Silicon Valley-based company attracted new investors, including Nvidia and Macquarie Bank.<\/p>\n PsiQuantum head of Australian operations Robert Lindwall said Brisbane Airport had been professional and co-operative as they ended their agreement.<\/p>\n \u201cBrisbane Airport has been a constructive partner to PsiQuantum, and we thank the team for the positive engagement and support shown throughout our time working together,\u201d he said.<\/p>\n As for Brisbane Airport, commercial executive general manager Scott Norris remained enthusiastic about PsiQuantum and said the airport remained an \u201cideal base for technology, innovation and research to grow\u201d.<\/p>\n \u201cQuantum computing will deliver great benefits for Queensland, from accelerating breakthroughs in health and climate science to strengthening the state\u2019s advanced industries, and we look forward to seeing the positive impacts PsiQuantum will achieve,\u201d Norris said.<\/p>\n Moreton Bay Mayor Peter Flannery said PsiQuantum\u2019s move would drive economic growth in his city, and across the state.<\/p>\n \u201cThis investment will help drive highly skilled jobs, attract new industry, and strengthen Queensland\u2019s position in advanced manufacturing and future technologies,\u201d he said.<\/p>\n \u201cMoreton Bay Central is becoming a destination for businesses looking to grow alongside a skilled workforce, strong infrastructure, and leading education and training institutions.\u201d<\/p>\n University of Queensland physics graduate Jeremy O\u2019Brien co-founded PsiQuantum in 2016.<\/p>\n The company planned to open its test and validation lab at Griffith University\u2019s Nathan campus next week, in what it described as an important step in building Queensland\u2019s quantum research, engineering, and technical capability.<\/p>\n Start the day with a summary of the day\u2019s most important and interesting stories, analysis and insights. Sign up for our Morning Edition newsletter<\/a>.<\/p>\n Save<\/p>\n You have reached your maximum number of saved items.<\/p>\n![\"PsiQuantum](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/ce6c92aa4d7b6b081941de005c913cdbfa21ee29.jpeg\")
PsiQuantum will now build its supercomputer at Moreton Bay Central, after abandoning its Brisbane Airport plans.<\/p>\n![\"](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/0823698a697369420ce06119ce02fe17e408d8ac.jpeg\")
<\/a><\/p>\n![\"PsiQuantum\u2019s](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2026\/05\/264ca828689df4b8cdfdfc836a65770784bbb564.jpeg\")
PsiQuantum\u2019s Australian co-founder Jeremy O\u2019Brien, a University of Queensland graduate, pictured in Chicago last year.Christopher Dilts\/Bloomberg<\/p>\n