Billion-dollar quantum computing and AI fund announced by US

The US plans to invest $1 billion (£760 million) in quantum computing and artificial intelligence research, the White House has announced. The initiative will fund 12 hubs around the country and help the US in its bid to compete with China and Europe in two of the most promising next-generation technologies. US Chief Technology Officer Michael Kratsios described the investment as "unprecedented" and a "defining achievement" of the Trump administration. "Built upon the uniquely American free market approach to technological advancement, these institutes will be world-class hubs for accelerating American innovation and building the 21st century American workforce," he said in a statement. Governments around the world are investing heavily in the development of AI and quantum computers, as well as technology giants like Alphabet and Alibaba.