The total adjustable market for quantum computing right now is estimated at $65 billion when we deliver a fault-tolerant quantum computer. I'd say that is the pessimistic estimate, compared to some of the other ones that have been out there.
I can't stress enough that when fault-tolerant quantum computing gets here, there will not be an industry that will not be disrupted by this. Every single thing that we know will change. It will take time for the applications to catch up, but this will be as revolutionary as digital computing was at its advent in the 1950s. The market is definitely there.
We've stood up quantum computers today. We've had six different quantum computers online since 2019, with users from large national labs in Canada and the U.S., and from corporations. Those are all kind of at that pre-fault tolerance, pre-economic value stage.
The R and D part is not the part that will take a billion dollars. We believe that we're well funded to take us well into building that fault-tolerant module, to being able to demonstrate and de-risk all the technology and all the science required to build a fault-tolerant quantum computer.
Once you need to build the machine that builds the machine, and once you need to switch modes from R and D into true manufacturing, that is a very large investment. You need to go to the largest production facilities in the world—the TSMCs, the GlobalFoundries, the Intels—and get their most advanced production lines producing these chips at scale and then integrating them. It's a very big task.