France's quantum position fragile, needs more capital: Court of Auditors

France's standing in the global quantum computing race is precarious, lacking the substantial investment seen in the United States and China, the Court of Auditors warned in a report. The French court, typically reserved about public spending, stressed that securing the nation's future in this cutting-edge technology is a "major sovereignty issue."

The Court of Auditors' assessment, due Monday, highlights that France's current position in the quantum computing race remains "fragile." It urges the French government to "mobilize more private capital" and foster "European partnerships" to keep pace. The report, which provides an initial review of French support for quantum technology, emphasizes that "the mobilization of French and European capital is becoming essential to ensure the scaling up" of companies and research in this vital sector.

While France launched a national quantum strategy in 2021 with 1.8 billion euros, including 1.5 billion in public funds for 2021-2025, the Court finds it "no longer adapted to the acceleration of international competition and the scaling needs of the sector." Even President Emmanuel Macron's announced additional billion euros by 2030 falls short of previous investment levels, with its exact scope yet to be defined. The Court calls for "sustainable" government support, particularly by enhancing leverage on private funding and through public procurement.

The report also points to a significant gap in the market, noting that "none of the 11 publicly traded quantum computing companies are European." This underscores the weakness of European capital markets, especially as the global quantum computing market, projected to reach between 8.7 and 13 billion euros by 2035 from an estimated 1.1 billion euros in early 2025, offers immense potential.