Jacobs secures role in Australian quantum computer project

Published 19/03/2025, 12:54
Jacobs secures role in Australian quantum computer project

DALLAS - Engineering firm Jacobs (NYSE: J), a $15 billion market cap company with a track record of raising dividends for six consecutive years, has been chosen by PsiQuantum to provide key services for the development of one of the world’s first utility-scale, fault-tolerant quantum computers in Brisbane, Australia. According to InvestingPro data, the company currently trades near its Fair Value, suggesting a balanced market valuation. The project, adjacent to Brisbane Airport, includes a 540,000-square-foot facility that will house a main office, cryoplant, and Quantum Computing Center.

Construction is slated to begin later this year with completion targeted for the end of 2027. Jacobs, with over 30 years of experience in high-tech, mission-critical projects and maintaining a healthy current ratio of 1.25, will be responsible for master planning, schematic design, and serving as the owner’s engineer to ensure the facility is secure, scalable, and replicable.

PsiQuantum’s quantum computer is expected to tackle complex problems beyond the reach of current supercomputers and conventional AI, aligning with Australia’s National Quantum Strategy to foster a robust quantum industry. Quantum computing holds promise for breakthroughs in sectors like healthcare, pharmaceuticals, chemicals, energy, national defense, and food production.

Jacobs President of Global Operations, Patrick Hill, emphasized the company’s collaborative efforts with PsiQuantum in planning the facility. PsiQuantum’s COO, Fariba Danesh, also highlighted Jacobs’ pivotal role as the Owner’s Engineer in realizing the project.

Ranked No.1 in Data Centers, Design, Manufacturing, and Industrial Processes in 2024 by Engineering News-Record, Jacobs is a leader in delivering comprehensive services across various sectors. The company generated $11.6 billion in revenue over the last twelve months, with a solid gross profit margin of 25% and nearly 45,000 employees. InvestingPro analysis reveals 8 additional key insights about Jacobs’ financial health and growth prospects, available exclusively to subscribers through comprehensive Pro Research Reports covering 1,400+ top stocks.

The information in this article is based on a press release statement. Jacobs’ forward-looking statements in the press release are subject to a variety of factors that could cause actual results to differ materially from expectations. These include economic conditions, legislative changes, tax laws, and geopolitical tensions, among others. Jacobs does not undertake any duty to update forward-looking statements to reflect subsequent events or circumstances.

In other recent news, Jacobs has made significant strides in its financial and operational strategies. The company successfully reduced its outstanding debt by approximately $312 million through an equity-for-debt exchange involving its stake in Amentum Holdings, Inc. Additionally, Jacobs has been selected to support the Boise Airport’s expansion plan, reflecting its continued involvement in major infrastructure projects. In cybersecurity, Jacobs secured a $13.4 million contract with the Hampton Roads Sanitation District to enhance the security of its wastewater treatment infrastructure. The company also outlined its growth strategy and financial targets for 2025-2029, aiming for 6-8% organic adjusted net revenue growth and a 16%+ adjusted EBITDA margin by fiscal year 2029. Jacobs’ involvement in the City of Boynton Beach’s water treatment upgrade project further underscores its commitment to addressing environmental challenges, particularly the removal of per- and polyfluoroalkyl substances (PFAS) from groundwater. These developments highlight Jacobs’ strategic efforts to strengthen its market position and deliver value through diverse service offerings.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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