EIFO and the Novo Nordisk Foundation Acquire the World's Most Powerful Quantum Computer

EIFO, the export and investment fund of Denmark, and the Novo Nordisk Foundation, an independent Danish enterprise foundation, are investing €80 million in the establishment of a new Nordic quantum initiative, QuNorth, to advance the region's technological development. Microsoft and Atom Computing will bring to QuNorth the world's most powerful quantum computer and the first operational deployment of a machine powered by logical qubits.

COPENHAGEN, Denmark, July 17, 2025 /PRNewswire/ -- The commercial and geopolitical stakes in quantum technology are immense, and significant technological advances have been made over the past decade. Despite a historically strong position in quantum research, Denmark and the Nordic region risk losing ground in the global race due to the lack of access to next-generation quantum systems, the Level 2 quantum computers.

To address this, EIFO and the Novo Nordisk Foundation are investing €80 million to establish QuNorth, a new Nordic quantum initiative. QuNorth's primary mission is to acquire and operate the world's most powerful commercial quantum computer to date.

The computer will be named Magne, inspired by Norse mythology, where Magne, the son of Thor, is known for his immense strength. Magne is currently set to become the world's most powerful commercially available quantum computer as one of the very first Level 2 quantum systems globally which is characterized by performing calculations using so-called logical qubits. With Magne, Denmark and the Nordic region will gain unprecedented research and commercial potential, contributing to a global leadership position.

Morten Bødskov, Danish Minister of Industry, Business and Financial Affairs, commented:
"The world has changed, and the competition for critical technologies is fierce. 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. 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. Denmark and the EU must lead the race in developing new technologies."

Both EIFO and the Novo Nordisk Foundation have intensified their focus on quantum technology over the past year. With the investment in QuNorth and Magne, the two foundations aim to strengthen both the Danish and Nordic quantum ecosystems.

Peder Lundquist, CEO of EIFO, commented: 
"A quantum computer of Magne's caliber maximizes the likelihood that Denmark will be among tomorrow's winning nations. Having access to one of the world's very few Level 2 quantum computers will give Danish researchers and companies a unique advantage of national significance. With QuNorth, Denmark is taking a quantum leap into a future laid by the foundations of Niels Bohr's research."

Mads Krogsgaard Thomsen, CEO of the Novo Nordisk Foundation, commented:
"Today, the Nordic countries have limited access to the latest quantum computers on the market. This means our researchers and companies risk falling behind compared to other parts of the world. With the investment in QuNorth and Magne, we aim to provide a strong platform that prioritizes access for Nordic users."

QuNorth will work proactively to support researchers and industry in leveraging Magne – among other things by developing new applications across areas such as material science and chemistry related product development, and by helping to attract talent and new quantum investments to the Nordic region. QuNorth will collaborate closely with other stakeholders involved in the development and commercialization of quantum research in the Nordic region, which is expected to also provide a European competitive advantage.

Magne will be delivered by a partnership between Microsoft and Atom Computing – both are world-leading companies in the field of quantum technology and are already strongly rooted in the Danish ecosystem. Microsoft has invested significantly in building and expanding its global quantum innovation center just north of Copenhagen and will equip Magne with their specialized quantum software and applications powered by the recently unveiled Microsoft Discovery. Atom Computing decided last year to establish its European headquarters in Copenhagen as EIFO and a local pension fund invested in the company. Atom Computing has developed a "neutral atom" technology, currently considered the best performing quantum technology.

Jason Zander, Executive Vice President, Microsoft Corporation, commented:
"We are thrilled to deepen our collaboration with Denmark and the Nordics - key to Europe's quantum ambitions. Together with Atom Computing, we are striving to build the world's most powerful quantum computer that applies Microsoft's advanced error correction to Atom Computing's high-fidelity qubits. We are proud that this state-of-the-art system comes to life in Denmark, also home of our decades-long investment in advanced quantum fabrication and research. We welcome this era of collaboration with the Novo Nordisk Foundation, EIFO, and industry leaders, accelerating innovation across scientific breakthroughs, from drug discovery to disease modelling. Reliable quantum computing is now a reality."

Dr. Ben Bloom, CEO at Atom Computing, commented:
"The team at Atom Computing is excited to deliver its cutting-edge technology into the hands of a broad range of users, as Atom's hardware integrates advanced compute capabilities that enable deep technical research into novel logical qubit algorithms and quantum error correction. On top of that, together with Microsoft, the system provides a full-stack solution that empowers quantum innovation and applications for academia and industry. We believe that together with Microsoft and QuNorth, the Danish and Nordic quantum ecosystems will take a global leadership position for years to come."

Construction of Magne will begin in autumn 2025, and the computer is expected to be ready for its first tasks by the new year 2026/27. The selection of Microsoft and Atom Computing in making Magne possible is the result of a thorough evaluation of various quantum platform's current technological strengths and benefits, as well as the solution's overall contribution to the Nordic quantum ecosystem, including access for researchers to the physical hardware.

Magne will be 100% Danish-owned, with EIFO and the Novo Nordisk Foundation each investing approximately €40 million in the establishment of QuNorth. Search for a CEO for the new company will now begin, and QuNorth plans to build a small organization of around 10 employees, whose primary task will be to ensure optimal utilization of Magne across commercial and academic users in the Nordic region. In addition, QuNorth will establish four PhD/postdoc roles in collaboration with Microsoft.

QuNorth will present its commercial and academic program at a Nordic quantum event to be held in autumn 2025. Both Magne and QuNorth will be based in Copenhagen.

Facts

About QuNorth, www.qunorth.com 

• QuNorth is a new joint venture established to procure and operate the world's most powerful commercial quantum computer to date
• QuNorth is owned 50/50 by EIFO and the Novo Nordisk Foundation and will have around 10 specialized employees
• QuNorth will be based in Innovation District Copenhagen, with its board and management expected to be in place by autumn 2025

About Magne

• Magne will be the world's first commercially available level 2 quantum computer, consisting of 50 logical qubits and over 1,200 physical qubits
• It is a complete full-stack quantum computer. This means it includes not only the hardware that contains the qubits, but also algorithms, software, operating system, compiler, and control electronics
• Atom Computing will build and deliver the quantum hardware for Magne, while Microsoft will integrate, among other things, its Azure software, which will be tailored to Atom Computing's neutral atom technology

About quantum technology and level 2 computers

The three levels of quantum computing are:

• Level 1 (NISQ): Error-prone quantum computers based on physical qubits, which have been commercially or cloud-accessible since 2016. This type of quantum computer is only used for simple and narrowly defined tasks and has not yet proven superior to classical computers in solving real-world challenges
• Level 2 (Logical qubits): More stable and reliable quantum computers with error correction. Quantum computers of this type are expected to offer a real advantage over classical computers in a range of applications. Magne will be a level 2 quantum computer – the most powerful in the world to date and the first commercial quantum computer of its kind
• Level 3 (Fault-tolerant quantum computing): Larger quantum chips, advanced quantum networks, and error correction algorithms enable high-quality logical qubits that are practically fault-tolerant. This opens up a new and still unrealized paradigm with vastly increased computational power and the potential to solve problems that are currently unsolvable. The large quantum computer under development by the Novo Nordisk Foundation Quantum Computing Programme and Quantum Foundry Copenhagen belongs in this category

About EIFO, www.eifo.dk 

• EIFO is Denmark's national promotional bank and export credit agency, providing risk-tolerant financing across five strategic priority areas: Defence and Security, Technological Innovation, Green Transition, Entrepreneurship and Growth, and Internationalisation
• EIFO's total business volume amounts to approx. €24 billion, with engagements in more than 3,000 companies
• EIFO's focus on quantum technology includes several strategic investments in, for example, Danish company Sparrow Quantum, Atom Computing, and Kvantify, as well as the ongoing work to incubate Denmark's new national quantum fund

About Novo Nordisk Foundation, www.novonordiskfonden.dk

• The Novo Nordisk Foundation is an independent Danish business foundation that supports scientific, humanitarian, and social causes
• In 2022, the Novo Nordisk Foundation launched its largest initiative in the field of quantum technology to date: the Novo Nordisk Foundation Quantum Computing Programme and Quantum Foundry Copenhagen. The goal is to develop a so-called fault-tolerant level 3 quantum computer