Novo Nordisk owner partners with Denmark to acquire Microsoft’s quantum computer

The foundation behind Novo Nordisk A/S (NVO) and the Danish government will invest €80 million ($93 million) in a Microsoft (NASDAQ:MSFT)-powered quantum computer to boost technological development in the Nordic region.

The Novo Nordisk Foundation, the non-profit that controls pharmaceutical giant Novo Nordisk (NVO), and Denmark’s Export and Investment Fund (EIFO) said in a statement they would invest in the initiative called QuNorth.

Microsoft (NASDAQ:MSFT), which has its largest quantum lab in Denmark, will provide software and Atom Computing will build the quantum computer. Construction will begin in autumn and the computer is expected to be ready by the end of next year.The quantum computer will start operating with 50 logical qubits, Jason Zander, Microsoft’s (MSFT) executive vice president, told Reuters.

“China and the USA are investing massively while Europe is falling behind. Quantum technology comes with enormous potential, and Denmark and the EU must seize this opportunity,” Morten Bødskov, Danish Minister of Industry, Business, and Financial Affairs, said.

“With the investment in the world’s strongest quantum computer, we are making a solid shift in the global quantum race. This will benefit all of Europe. We need to harness the untapped possibilities of quantum technology for Danish and European businesses, society, and security.”