Coalition claims ‘$1 billion captain’s pick’ as PsiQuantum answers emerge

The Albanese government signed a $2.1 million contract with Lazard’s bankers to help it negotiate with US-based PsiQuantum a month before it tested the market to see whether rival Australian companies could develop a quantum computer by 2030.

The Department of Industry, Science and Resources engaged six external service providers – including advisory firm Lazard Australia and law firm King & Wood Mallesons – in a due diligence process before committing in April to its $1 billion co-investment with the Queensland government in PsiQuantum, newly released documents show.