On August 12, 2025, the Export and Investment Fund of Denmark (EIFO) and the Novo Nordisk Foundation announced a combined €80 million investment to establish QuNorth, a new Nordic quantum initiative. QuNorth’s primary mission is to acquire and operate Magne, described as the world’s most powerful commercially available quantum computer, according to the Novo Nordisk Foundation. Each organization invested approximately €40 million.
Magne will be a Level 2 quantum system performing calculations using logical qubits, built through a partnership between Atom Computing (hardware) and Microsoft (software). Construction was set to begin in autumn 2025, with the computer expected to be operational by late 2026 or early 2027. The system will be 100% Danish-owned through QuNorth.
Danish Minister of Industry Morten Bødskov said the investment represented “a solid shift in the global quantum race.” EIFO CEO Peder Lundquist said access to one of the world’s first Level 2 quantum computers would give Danish researchers and companies “a unique advantage of national significance.” QuNorth plans to employ approximately 10 people to ensure optimal utilization of Magne across commercial and academic users in the Nordic region.