Novo Nordisk Foundation to buy “world’s most powerful” quantum computer from Microsoft

The foundation behind Novo Nordisk, which makes weight-loss drugs Ozempic and Wegovy, will invest €80 million ($93 million) in Microsoft’s quantum computer along with the Danish government.

The computer, to be named Magne after Thor’s son in Norse mythology, is expected to carry out its first tasks in 2027 and will be operated by a newly established company, QuNorth.

The project aims to drive technological advancement in the Nordic region and the rest of Europe, according to a joint statement from the Novo Nordisk Foundation and Denmark’s Export and Investment Fund (EIFO), which will each invest €40 million.

The computer, described as the world’s most powerful, will give Europe a competitive edge in the global quantum race, said Danish Industry Minister Morten Bødskov.

“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,” Bødskov said.

Magne will be delivered by Microsoft and California-based startup Atom Computing, a pioneer in “neural atom” technology, currently considered the most advanced in quantum computing.

Additionally, Microsoft will expand its quantum innovation center in Copenhagen, while Atom Computing announced last year it was establishing its European headquarters in the Danish capital.

“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,” said Jason Zander, executive vice president at Microsoft.

Strategic shift

The computer will be made available for researchers and companies to develop products in industries as varied as pharmaceuticals, finance, and logistics.

Last year, Novo Holdings, which is owned by Novo Nordisk Foundation and is the controlling shareholder of Novo Nordisk, said it would invest 1.5 billion Danish krone, or more than $214 million, over 12 years to build “a full-scale generally applicable quantum computer.”

Novo Nordisk’s push into quantum comes as it is increasingly challenged by rivals in the booming weight-loss market that it helped pioneer and which turned it into one of Europe’s most valuable companies.

The move also aligns with the EU’s broader drive for digital and technological sovereignty, as the bloc seeks to reduce its reliance on countries like the US.

Earlier this month, the European Commission announced the Quantum Strategy aimed at building a “sovereign quantum ecosystem” and making Europe a “global leader” in the field by 2030.