Govt, business propose quantum leap

Alibaba will spend $4.8 million for 5 consecutive years to support creation of superfast computers

The Chinese Academy of Sciences and Alibaba announced the establishment of a joint quantum computing laboratory on Thursday in Shanghai with the goal of developing superfast quantum computers.

Alibaba will invest 30 million yuan ($4.8 million) a year for five years to support the research, and it will recruit top scientists from around the globe to work with scientists from the Chinese Academy of Sciences.