Australia is betting big on a quantum computer – with the federal and Queensland governments investing nearly a billion dollars to get a commercial-scale machine. Experts believe (probs don’t take our word for it) quantum computers can solve problems faster than ordinary computers – and will lead to breakthroughs in pharmaceuticals, EV car batteries and artificial intelligence. The computer will be built by US-based company PsiQuantum – which is setting up a new Asia-Pacific HQ at Brisbane airport. And while there’s been some criticism, the money’s going to a US firm – Industry Minister Ed Husic says the company was “set up by Australians” and the investment, which will create 400 jobs, is about “bringing Australians home”. The move comes ahead of a major shake-up of Australia’s foreign investment laws that Treasurer Jim Chalmers is expected to announce today.