Prime Minister Justin Trudeau is set to announce a $40-million contribution Monday to a Toronto startup that has vaulted to the lead in the global race to develop superpowerful quantum computers, according to a person familiar with the situation.
The government is providing the funding to Xanadu Quantum Technologies Inc., one of many companies around the world that is trying to build computers in a new way, by harnessing the ephemeral properties of subatomic particles to perform calculations that would take current supercomputers millennia to run. The Globe is not identifying the source because they were not authorized to discuss the matter publicly.
The funding, through the government’s Strategic Innovation Fund (SIF) comes less than…