Category Archives: Quantum Computing
A huge race is on to develop quantum technologies. The time to discuss risks is now – The Conversation
The United Nations has proclaimed 2025 as the International Year of Quantum Science and Technology. The goal is to recognise the importance of quantum science and the need for wider awareness of its past and future impact. But why quantum? Why now?
Quantum science is both complex and weird. Its not easy to wrap your head around concepts such as entanglement, light existing as both a wave and a particle, or a cat in a box that is both alive and dead (until observed).
The weirdness of quantum mechanics is now being channelled into the construction of the first quantum computers, communication systems and sensors. Further down the road, it could power the next generation of artificial intelligence (AI).
We are in the early stages of an expensive and resource-intensive quantum race among the worlds powers. The competition for quantum leadership is likely to play a major role in shaping Australias economic and national security policy for decades to come.
Big tech giants, major powers and top research universities are all in a race to build the first commercially viable quantum systems. While opinions differ on whether the quantum race is a marathon or a sprint, some big bets have already been placed.
By 2045, CSIRO estimates show the Australian quantum industry could bring in up to A$6 billion in annual revenue, and provide almost 20,000 jobs.
In 2023 Australia laid out its National Quantum Strategy to boost government support and make Australia a leader of the global quantum industry.
Over the past two years the Victorian government has invested $37 million into quantum startups. In April, the Commonwealth and Queensland governments committed to a joint $1 billion investment to build the worlds first utility-scale quantum computer. The same month, the University of Sydney was awarded an $18.4 million federal grant to establish a national hub for the quantum ecosystem in Australia.
But understanding the question of quantum is more than a matter of science and technology, or dollars and cents. As with just about every powerful new technology, the question is not if but when the next quantum wave will be weaponised.
Based on entangled quantum bits (qubits), quantum technology has the potential to exponentially increase computational power, transform communication networks and optimise the flow of goods, resources and money.
Commercial industries as diverse as telecommunications, pharmaceuticals, banking and mining of data as well as minerals will all be transformed.
However, it is the national security implications of quantum technology that have most interested our government, and others around the world.
Quantum radar, code, internet, sensors and GPS are being fast-tracked by militaries and defence industries in all corners of the globe. Who gets there first (the quantum haves) could produce new asymmetries of power and dangers for the rest (the quantum have-nots).
Quantum communications systems can deliver completely secure, unhackable lines of communication. A prototype network is already connecting several major cities over nearly 5,000km in China. On the other hand, quantum computers pose the risk of eventually being able to hack classically encrypted messages in seconds an eventuality known as Q-Day.
Quantum AI is being developed to improve the performance of lethal autonomous weapons. Do we really want swarms of drones operating in a networked battlespace without any human in the loop?
Quantum sensors, already in use today, are able to make ultra-sensitive measurements of magnetic and gravitational fields. This means pinpointing metals and large objects underground as well as underwater.
New breakthroughs in quantum sensing technology would have serious implications for the resilience and reliability of Australias new fleet of nuclear submarines. Its an important consideration for the single largest military investment in our nations history.
Just about every new complex technology has generated unintended consequences and unexpected disasters. Chernobyl, Three Mile Island and Fukushima all bear witness to the risks inherent in an earlier wave of nuclear technologies resulting from breakthroughs in quantum science.
Given the potential speed and networked power of quantum machine learning and cloud computing, a glitch in quantum artificial intelligence could start as a local incident but quickly cascade into a global crisis.
The blockbuster film Oppenheimer showed how an earlier wave of quantum research enabled the atomic bomb, and forever changed the international order.
The first use of nuclear weapons also spurred a deep and engaged global discussion about disarmament, led by more than a few of the scientists who had helped build the bomb. But their voices were drowned out by a politics of fear and the Cold War, resulting in a costly arms race and nuclear brinksmanship that continues to this day.
When asked about President Lyndon Johnsons effort to initiate arms control talks in the 1960s, Oppenheimer replied:
Its twenty years too late it should have been done the day after Trinity [the first nuclear detonation].
We had best not wait to start asking the hard questions about how the next generation of quantum technologies will impact the prospects for global war and peace in years ahead.
Project Q: War, Peace, and Quantum Mechanics is screening at the Melbourne Documentary Film Festival on July 20.
New quantum computer smashes ‘quantum supremacy’ record by a factor of 100 and it consumes 30,000 times less power – Livescience.com
A new quantum computer has broken a world record in "quantum supremacy," topping the performance of benchmarking set by Google's Sycamore machine by 100-fold.
Using the new 56-qubit H2-1 computer, scientists at quantum computing company Quantinuum ran various experiments to benchmark the machine's performance levels and the quality of the qubits used. They published their results June 4 in a study uploaded to the preprint database arXiv. The study has not been peer-reviewed yet.
To demonstrate the potential of the quantum computer, the scientists at Quantinuum used a well-known algorithm to measure how noisy, or error-prone, qubits were.
Quantum computers can perform calculations in parallel thanks to the laws of quantum mechanics and entanglement between qubits, meaning the fates of different qubits can instantly change each other. Classical computers, by contrast, can work only in sequence.
Adding more qubits to a system also scales up the power of a machine exponentially; scientists predict that quantum computers will one day perform complex calculations in seconds that a classical supercomputer would have taken thousands of years to solve.
The point where quantum computers overtake classical ones is known as "quantum supremacy," but achieving this milestone in a practical way would need a quantum computer with millions of qubits. The largest machine today has only about 1,000 qubits.
Related: Quantum computing breakthrough could happen with just hundreds, not millions, of qubits using new error-correction system
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The reason we would need so many qubits for "quantum supremacy" is that they are inherently prone to error, so many would be needed to correct those errors. That's why many researchers are now focusing on building more reliable qubits, rather than simply adding more qubits to machines.
The team tested the fidelity of H2-1's output using what's known as the linear cross entropy benchmark (XEB). XEB spits out results between 0 (none of the output is error-free) and 1 (completely error-free), Quantinuum representatives said in a statement.
Scientists at Google first tested the company's Sycamore quantum computer using XEB in 2019, demonstrating that it could complete a calculation in 200 seconds that would have taken the most powerful supercomputer at the time 10,000 years to finish. They registered an XEB result of approximately 0.002 with the 53 superconducting qubits built into Sycamore.
But in the new study, Quantinuum scientists in partnership with JPMorgan, Caltech and Argonne National Laboratory achieved an XEB score of approximately 0.35. This means the H2 quantum computer can produce results without producing an error 35% of the time.
"We are entirely focused on the path to universal fault tolerant quantum computers," Ilyas Khan, chief product officer at Quantinuum and founder of Cambridge Quantum Computing, said in the statement. "This objective has not changed, but what has changed in the past few months is clear evidence of the advances that have been made possible due to the work and the investment that has been made over many, many years."
Quantinuum previously collaborated with Microsoft to demonstrate "logical qubits" that had an error rate 800 times lower than physical qubits.
In the study, published in April, scientists demonstrated they could run experiments with the logical qubits with an error rate of just 1 in 100,000 which is much stronger than the 1-in-100 error rate of physical qubits, Microsoft representatives said.
"These results show that whilst the full benefits of fault tolerant quantum computers have not changed in nature, they may be reachable earlier than was originally expected," added Khan.
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New quantum computer smashes 'quantum supremacy' record by a factor of 100 and it consumes 30,000 times less power - Livescience.com
The 3 Smartest Quantum Computing Stocks to Buy With $5K Right Now – InvestorPlace
Quantum computing stocks present a thrilling frontier for investors. The industrys promise to exponentially accelerate problem-solving capabilities across various sectors, such as cryptography, drug discovery, and optimization problems, is increasingly appealing. This transformative potential has poised quantum computing stocks as pivotal investments for those looking to capitalize on next-generation technology.
As per McKinsey, public investments in quantum technology have grown significantly, increasing by over 50% since 2022, totaling approximately $42 billion globally. This increase is driven by countries like Germany, the UK, and South Korea, indicating a strong governmental interest in quantum technology.
For investors ready to engage with this high-potential market, the current moment offers a strategic entry point. In this context, here are three quantum computing stocks to buy for significant rewards in the future.
Source: Shutterstock
Rigetti Computing (NASDAQ:RGTI) stands out in the burgeoning field of quantum computing. Founded in 2013, Rigetti made significant strides in developing full-stack quantum computing services, offering them through its cloud-based platform, Forest.
The company reported generating over $3 million in revenue in Q1, marking a 39% year-over-year (YOY) growth. This growth primarily stems from its technology development contracts and quantum processing unit (QPU) sales. Despite ongoing operating losses, Rigettis financial health shows signs of improvement, with a narrowed net loss and a robust liquidity position of over $102 million in cash and short-term investments by the end of Q1.
Rigettis dedication to innovation is evident in its recent launch of the Novera QPU partnership program. This initiative advances quantum computing by fostering collaboration and technological integration across various aspects of the quantum stack.
The company has already secured partnerships with notable firms such as Riverlane in the UK for error correction and Quantum Machines in Israel for control systems. These collaborations are expected to enhance Rigettis market position and drive future QPU sales.
Source: Amin Van / Shutterstock.com
IonQ (NYSE:IONQ) is a pioneering force in the quantum computing industry. Despite being a relatively young player, IonQ has made remarkable strides in advancing quantum computing technology, especially with its unique approach using trapped ion technology.
IonQ has carved out a niche in the quantum computing sector with its trapped ion technology, which is considered to have several advantages over other quantum systems, such as superconducting qubits. This technology offers longer coherence times and potentially more scalable solutions. These features are pivotal for solving complex computational problems currently beyond the reach of classical supercomputers.
In 2023, IonQ announced significant advancements, including the development of next-generation quantum systems such as the IonQ Forte and the upcoming Tempo system. Moreover, the company has been proactive in forming strategic alliances across various sectors, including finance, automotive, and aerospace. Partnerships with notable companies like Airbus and Hyundai aim to explore quantum computings utility in optimizing logistics and material sciences. These collaborations not only validate IonQs technology but also enhance its credibility and market presence.
Source: josefkubes / Shutterstock.com
Honeywell (NASDAQ:HON) stands out as a pivotal player in the diversified industrial sector. The company has positioned itself as a significant player in the rapidly evolving field of quantum computing through its dedicated unit, Honeywell Quantum Solutions. This division focuses on developing advanced quantum computing technologies that utilize trapped ion technology.
In the Q1 2024 earnings call, the company exceeded its adjusted earnings-per-share (EPS) guidance and achieved healthy organic sales growth. Honeywells Q1 revenue was $9.11 billion, a 2.72% YOY increase, with an EPS of $2.25, surpassing estimates by $0.07.
Honeywells Quantum Solutions division has set records in quantum volume, indicating strong performance and scalability of its quantum systems. Strategic collaborations, such as with Microsoft on quantum computing experiments, demonstrate Honeywells commitment to innovation and the commercialization of quantum technologies.
The company plans to monetize its quantum business around 2025, leveraging advancements and market readiness.
On the date of publication, Mohammed Saqib did not hold (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Mohammed Saqib is a research analyst with experience in equity research and financial modeling. He has extensively covered stocks listed in the tech sector using fundamental analysis as the cornerstone of his approach. Currently pursuing a masters degree in finance, Saqib is dedicated to obtaining the CFA charter to augment his expertise in the field further.
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The 3 Smartest Quantum Computing Stocks to Buy With $5K Right Now - InvestorPlace
Why every quantum computer will need a powerful classical computer – Ars Technica
Enlarge / A single logical qubit is built from a large collection of hardware qubits.
One of the more striking things about quantum computing is that the field, despite not having proven itself especially useful, has already spawned a collection of startups that are focused on building something other than qubits. It might be easy to dismiss this as opportunismtrying to cash in on the hype surrounding quantum computing. But it can be useful to look at the things these startups are targeting, because they can be an indication of hard problems in quantum computing that haven't yet been solved by any one of the big companies involved in that spacecompanies like Amazon, Google, IBM, or Intel.
In the case of a UK-based company called Riverlane, the unsolved piece that is being addressed is the huge amount of classical computations that are going to be necessary to make the quantum hardware work. Specifically, it's targeting the huge amount of data processing that will be needed for a key part of quantum error correction: recognizing when an error has occurred.
All qubits are fragile, tending to lose their state during operations, or simply over time. No matter what the technologycold atoms, superconducting transmons, whateverthese error rates put a hard limit on the amount of computation that can be done before an error is inevitable. That rules out doing almost every useful computation operating directly on existing hardware qubits.
The generally accepted solution to this is to work with what are called logical qubits. These involve linking multiple hardware qubits together and spreading the quantum information among them. Additional hardware qubits are linked in so that they can be measured to monitor errors affecting the data, allowing them to be corrected. It can take dozens of hardware qubits to make a single logical qubit, meaning even the largest existing systems can only support about 50 robust logical qubits.
Riverlane's founder and CEO, Steve Brierley, told Ars that error correction doesn't only stress the qubit hardware; it stresses the classical portion of the system as well. Each of the measurements of the qubits used for monitoring the system needs to be processed to detect and interpret any errors. We'll need roughly 100 logical qubits to do some of the simplest interesting calculations, meaning monitoring thousands of hardware qubits. Doing more sophisticated calculations may mean thousands of logical qubits.
That error-correction data (termed syndrome data in the field) needs to be read between each operation, which makes for a lot of data. "At scale, we're talking a hundred terabytes per second," said Brierley. "At a million physical qubits, we'll be processing about a hundred terabytes per second, which is Netflix global streaming."
It also has to be processed in real time, otherwise computations will get held up waiting for error correction to happen. To avoid that, errors must be detected in real time. For transmon-based qubits, syndrome data is generated roughly every microsecond, so real time means completing the processing of the datapossibly Terabytes of itwith a frequency of around a Megahertz. And Riverlane was founded to provide hardware that's capable of handling it.
The system the company has developed is described in a paper that it has posted on the arXiv. It's designed to handle syndrome data after other hardware has already converted the analog signals into digital form. This allows Riverlane's hardware to sit outside any low-temperature hardware that's needed for some forms of physical qubits.
That data is run through an algorithm the paper terms a "Collision Clustering decoder," which handles the error detection. To demonstrate its effectiveness, they implement it based on a typical Field Programmable Gate Array from Xilinx, where it occupies only about 5 percent of the chip but can handle a logical qubit built from nearly 900 hardware qubits (simulated, in this case).
The company also demonstrated a custom chip that handled an even larger logical qubit, while only occupying a tiny fraction of a square millimeter and consuming just 8 milliwatts of power.
Both of these versions are highly specialized; they simply feed the error information for other parts of the system to act on. So, it is a highly focused solution. But it's also quite flexible in that it works with various error-correction codes. Critically, it also integrates with systems designed to control a qubit based on very different physics, including cold atoms, trapped ions, and transmons.
"I think early on it was a bit of a puzzle," Brierley said. "You've got all these different types of physics; how are we going to do this?" It turned out not to be a major challenge. "One of our engineers was in Oxford working with the superconducting qubits, and in the afternoon he was working with the ion trap qubits. He came back to Cambridge and he was all excited. He was like, 'They're using the same control electronics.'" It turns out that, regardless of the physics involved in controlling the qubits, everybody had borrowed the same hardware from a different field (Brierley said it was a Xilinx radiofrequency system-on-a-chip built for 5G base stationed prototyping.) That makes it relatively easy to integrate Riverlane's custom hardware with a variety of systems.
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Why every quantum computer will need a powerful classical computer - Ars Technica
Quantinuum and STFC Hartree Centre Partner to Advance Quantum Research in the UK – HPCwire
LONDON and BROOMFIELD, Colo., July 11, 2024 Quantinuum has signed a Joint Statement of Endeavor with the STFC Hartree Centre, one of Europes largest supercomputing centers dedicated to industry engagement. The partnership will provide UK industrial and scientific users access to Quantinuums H-Series, the worlds highest-performing trapped-ion quantum computers, via the cloud and on-premise.
Research and scientific discovery are central to our culture at Quantinuum, and we are proud to support the pioneers at the Hartree Centre, said Raj Hazra, CEO of Quantinuum. As we accelerate quantum computing, the Hartree Centre and the UK quantum ecosystem will be on the forefront of building solutions powered by quantum computers at scale.
Both organizations aim to support UK businesses and research organizations in exploring quantum advantage in quantum chemistry, computational biology, quantum artificial intelligence and quantum-augmented cybersecurity. The UK has a strong global reputation in each domain, and quantum computing is expected to accelerate development in the coming years.
Quantinuums H-Series hardware will benefit scientists across various areas of research, including exascale computing algorithms, fusion energy development, climate resilience and more, said Kate Royse, Director of the STFC Hartree Centre. This partnership also furthers our five-year plan to unlock the high growth potential of advanced digital technologies for UK industry.
The Hartree Centre is part of the Science and Technology Facilities Council (STFC) within UK Research and Innovation building on a wealth of established scientific heritage and a network of international expertise. The centers experts collaborate with industry and the research community to explore the latest technologies, upskill teams and apply practical digital solutions across supercomputing, data science and AI.
Quantinuums H-Series quantum computers are the highest-performing in the world, having consistently held the world record for quantum volume, a widely used benchmark for quantum computing performance, for over three years and currently standing at 220.
In April 2024, Quantinuum and Microsoft reported a breakthrough demonstration of four reliable logical qubits using quantum error correction an important technology necessary for practical quantum computing. During the same month, Quantinuum extended its industry leadership with its H-Series computer becoming the first to achieve three 9s 99.9% two-qubit gate fidelity across all qubit pairs in a production device, a critical milestone that enables fault-tolerant quantum computing.
This achievement was immediately available to Quantinuum customers, who depend on using the very best quantum hardware and software, enabling them to push the boundaries on new solutions in areas such as materials development, drug discovery, machine learning, cybersecurity, and financial services.
Quantinuum formerly known as Cambridge Quantum prior to its 2021 combination with Honeywell Quantum Solutions was one of the UK governments delivery partners, following the 2014 launch of the National Quantum Technologies Programme. Cambridge Quantum ran the Quantum Readiness Programme for several years to inspire UK business and industry to invest in quantum computing to explore the potential use cases of this revolutionary technology.
Earlier this year, Quantinuum was selected as a winner in the 15m SBRI Quantum Catalyst Fund, to support the UK Government in delivering the benefits of quantum technologies, with an initial focus on simulating actinide chemistry using quantum computers.
About Quantinuum
Quantinuum, the worlds largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Quantinuums technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
About The STFC Hartree Centre
The Hartree Centre helps UK businesses and organizations of any size to explore and adopt supercomputing, data analytics and artificial intelligence (AI) technologies for enhanced productivity, smarter innovation and economic growth. Backed by significant UK government funding and strategic partnerships with industry leaders such as the University of Liverpool, the Hartree Centre is home to some of the most advanced digital technologies and experts in the UK. In 2021, the Hartree National Centre for Digital Innovation (HNCDI) program was established to provide a safe and supportive environment for UK businesses and public sector organizations to acquire the skills needed to adopt AI, develop proofs-of-concept and de-risk investment into emerging digital technologies such as quantum computing. The Hartree Centre is part of the Science and Technology Facilities Council (STFC).
Source: Quantinuum
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Quantinuum and STFC Hartree Centre Partner to Advance Quantum Research in the UK - HPCwire
Kipu Quantum Acquires Quantum Computing Platform Built by Anaqor AG to Accelerate Development of Industrially Relevant Quantum Solutions – PR Newswire
KARLSRUHE, Germany, July 11, 2024 /PRNewswire/ -- Kipu Quantum, the worldwide leading quantum software company, announced today the strategic acquisition of PlanQK, the German quantum computing platform successfully built and commercialized by Anaqor AG. Along with its platform, key members of its team of experts joined Kipu Quantum to lead the way in making useful quantum computing accessible to organizations of all sizes, including industrial, academic, and governmental ones. This shrewd movefollows Kipu Quantum's successful 11.4million second closing of the seed funding round led by HV Capital and DTCF in late 2023.
The well-established and industry-recognized PlanQK platform with a constantly growing quantum ecosystem of more than 100 organizations enhances accessibility to quantum computing across various sectors, serving a broad range of users from leading companies such as BASF, DB Systel GmbH, T-LABS and TRUMPF.
The acquisition will drastically acceleratethe commercialization of Kipu's application- and hardware-specific algorithms, as services through the PlanQK platform, enabling frictionlessaccess fororganizations to integrate quantum solutions into their existing processes.
Combining their strengths, Kipu Quantum and the PlanQK team are set to greatly enhance quantum computing accessibility across various industries, including pharmaceuticals, chemicals, logistics, and finance, accelerating these sectors towards achieving quantum advantage.
Strategic Integration for Accelerated Growth
Kipu Quantum's CEO, Daniel Volz, stated, "Kipu Quantum's massively compressed algorithms enable the use of today's quantum processors across multiple industries to solve industrially sizedproblems, without waiting a decade for massive quantum computers. Our work with customers such as BASF, DLR, and MasOrangehas demonstrated that this is feasible. Making our world-leading algorithm services accessible through the PlanQK platform will make our capabilitiesavailable to a much wider audience."
MichaelFalkenthal, lead architect of the PlanQK platform stated, "By merging our deep technical expertise and strengths with Kipu Quantum, we aim to deliver unparalleled value and accelerate access to quantum computing capabilities sooner than anticipated. PlanQK will remain an open, community-driven platform, enhanced by our partnerships and research initiatives to support all quantum innovators. Together, we will facilitate seamless integration of quantum solutions into existing organizational processes, significantly broadening the reach and application of advanced quantum technologies."
Enrique Solano, co-founder andChief Visionary Officer of Kipu Quantum emphasized,"We are delighted to welcome the elite team of PlanQK, bolstering our capabilities. We share the mission to achieve a first demonstration of quantum advantage. We appreciate the unique qualities and talents our new colleagues bring to achieve this mission by 2026. Together, we are here to make history and make useful quantum computing as soon as possible."
Era of Useful Quantum Computing
Alexandra Beckstein, CEO and co-founder of QAI Ventures, whose Swiss-based accelerator program KIPU graduated in 2023, commented, "We highly appreciate the strategic move in acquiring the PlanQK platform.This confirms Kipu's commitment to the era of useful quantum computing and positions the company as a frontrunner. Their innovative methods will enhance the ability to deliver high-impact quantum solutions and drive significant advancements in complex real-life computational processes. We will continue to support their journey towards business-relevant quantum computing."
About Kipu
Kipu Quantum is a German company that operates at the intersection of quantum computer hardware and application software layers, developing disruptive application- and hardware-specific quantum algorithms for a wide range of industries. These algorithms are based on a one-of-a-kind compression technology that requires orders of magnitude less quantum processor resources to solve a given problem than comparable approaches. Kipu Quantum's technology has the potential to solve industry-relevant problems in the order of 1,000 physical qubits and is compatible with any leading quantum hardware. The company is currently testing its technology with customers in the pharmaceutical, chemical, logistics and financial industries.
About PlanQK
PlanQK is the first open community-powered platform and ecosystem for quantum applications, connecting developers, industrial users, researchers, and quantum hardware providers with a platform for the integration, deployment, development, and monetization of quantum services. With over 30 successfully tested use cases and more than 100 partners, PlanQK, is a pioneer in the field of quantum platforms. Initiated in 2019 and supported through a research grant by the German Federal Ministry of Economic Affairs and Climate Affairs it has been continuously developed in collaboration with leading universities and companies.
Press contact: Joanna Folberth [emailprotected] +49 1523 4621 156
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Kipu Quantum Acquires Quantum Computing Platform Built by Anaqor AG to Accelerate Development of Industrially Relevant Quantum Solutions - PR Newswire
Worlds highest performing quantum chip unveiled by Oxford Ionics – Interesting Engineering
A new high-performance quantum chip built by Oxford Ionics, a spinoff from the University of Oxford, has broken previous records in the quantum computing domain. The achievement is commendable since error correction was not used during the process, and the chip can also be manufactured at existing semiconductor fabs. The company expects a useful quantum computer to be available to the world in the next three years.
Quantum computing is the next frontier of computing, where computers will be able to rapidly compute results by consuming information that would take todays fastest supercomputers years to process.
Research institutes and private enterprises are now locked in a race to build the worlds first usable quantum computer. However, the basic data storage unit or quantum bit (quantum bit) can only be worked with in highly specialized conditions. Researchers need to find simpler ways to process qubits to make the technology more mainstream.
Founded in 2019 by eminent Oxford scientists, Oxford Ionics uses a trapped ion approach to quantum computing. Compared to other approaches, trapped ions can help in precise measurements while staying in superposition for longer durations.
Controlling trapped ions for computation is typically achieved with lasers. However, Oxford Ionics has eliminated the use of lasers and developed an electronic way to achieve the same effect. They call it Electronic Qubit Control.
The team at Oxford Ionics has integrated everything needed to control the trapped ions onto a silicon chip. This chip can be manufactured at any existing semiconductor fabrication facility, making it possible to scale trapped-ion-based quantum computers.
In a press release sent to Interesting Engineering, Oxford Ionics confirmed that it achieved industry records in two-qubit and single-qubit gate performance.
The industrys biggest players have taken different paths towards the goal of making quantum computing a reality, said Chris Ballance, co-founder and CEO of Oxford Ionics, in the statement.
From the outset, we have taken a rocket ship approach focusing on building robust technology by solving the really difficult challenges first. This has meant using novel physics and smart engineering to develop scalable, high-performance qubit chips that do not need error correction to get to useful applications and can be controlled on a classic semiconductor chip, Ballance added.
A major challenge in adopting quantum computers is how easily the system accumulates errors, given its fast computing rates. Researchers, therefore, use large numbers of qubits to build logical qubits that give more coherent answers and deploy error correction to the computations.
Oxford Ionics says its high-performance qubits eliminate the need for error correction, allowing commercial applications without the associated costs of error correction. The company is confident that, thanks to the scalability of its Electronic Qubit Control system, it can build a 256-qubit chip in the next few years.
When you build a quantum computer, performance is as important as size increasing the number of qubits means nothing if they do not produce accurate results, said Tom Harty, CTO at Oxford Ionics. We have now proven that our approach has delivered the highest level of performance in quantum computing to date, and is now at the level required to start unlocking the commercial impact of quantum computing.
This is an incredibly exciting moment for our team, and for the positive impact that quantum computing will have on society at large, Harty concluded.
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Ameya Paleja Ameya is a science writer based in Hyderabad, India. A Molecular Biologist at heart, he traded the micropipette to write about science during the pandemic and does not want to go back. He likes to write about genetics, microbes, technology, and public policy.
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Worlds highest performing quantum chip unveiled by Oxford Ionics - Interesting Engineering
Qubit Pharmaceuticals and Sorbonne University Reduce Number of Qubits Needed to Simulate Molecules – HPCwire
PARIS, July 11, 2024 Qubit Pharmaceuticals , a deeptech company specializing in the discovery of new drug candidates through molecular simulation and modeling accelerated by hybrid HPC and quantum computing, announced that it has drastically reduced the number of qubits needed to compute the properties of small molecules with its Hyperion-1 emulator, developed in partnership with Sorbonne Universit. This world first raises hopes of a near-term practical application of hybrid HPC quantum computing to drug discovery.
As a result of these advances, Qubit Pharmaceuticals and Sorbonne Universit are announcing that they have been awarded 8 million in funding under the France 2030 national plan for the further development of Hyperion-1.
At the end of 2023, we announced quantum chemistry calculations using 40 qubits, said Robert Marino, CEO of Qubit Pharmaceuticals. A few months later, weve managed to solve equations that would require 250 logic qubits. An extremely rapid development that confirms the near-term potential of hybrid HPC and quantum algorithms in the service of drug discovery.
By developing new hybrid HPC and quantum algorithms to leverage the computing power of quantum computers in the field of chemistry and drug discovery, Sorbonne Universit and Qubit Pharmaceuticals have succeeded, with just 32 logic qubits, in predicting the physico-chemical properties of nitrogen (N2), hydrogen fluoride (HF), lithium hydride and water molecules that would normally require more than 250 perfect qubits. The Hyperion-1 emulator uses Genci supercomputers, Nvidias SuperPod EOS, and one of Scaleways many GPU clusters.
With this first proof of concept, the teams have demonstrated that the routine use of quantum computers coupled with high-performance computing platforms for chemistry and drug discovery is much closer than previously thought. Nearly 5 years could be gained, bringing us significantly closer to the era when quantum computers (noisy or perfect) could be used in production within hybrid supercomputers combining HPC, AI and quantum. The use of these new computing powers will improve the precision, speed and carbon footprint of calculations.
To achieve this breakthrough, teams from Qubit Pharmaceuticals and Sorbonne University have developed new algorithms that break down a quantum calculation into its various components, some of which can be calculated precisely on conventional hardware. This strategy enables calculations to be distributed using the best hardware (quantum or classical), while automatically improving the complexity of the algorithms needed to calculate the molecules properties.
In this way, all calculations not enhanced by quantum computers are performed on classical GPUs. As the physics used allows the number of qubits required for the calculations, the team, by optimizing the approach to the extreme, has even managed to limit GPU requirements to a single card in some cases. As this hybrid classical/quantum approach is generalist, it can be applied to any type of quantum chemistry calculation, and is not restricted to molecules of pharmaceutical interest, but also to catalysts (chemistry, energy) or materials.
Next steps include deploying these algorithms on existing noisy machines to quantify the impact of noise, and compare performance with recent calculations by IBM and Google, and predicting the properties of molecules of pharmaceutical interest. To achieve this, the teams will deploy new software acceleration methods to reach regimes that would require more than 400 qubits with purely quantum approaches. In the short term, this hybrid approach will reduce the need for physical qubits on quantum machines.
These innovative approaches developed by Qubit Pharmaceuticals are an illustration of Sorbonne Universits commitment to serving society, said lisabeth Angel-Perez, Vice-President Research and Innovation at Sorbonne Universit. The precision and power of quantum computers offer major performance gains. With Qubit Pharmaceuticals, we measure the enormous potential of theoretical computing for quantum chemistry.
About Qubit Pharmaceuticals
Qubit Pharmaceuticals was founded in 2020 with the vision of co-developing new, more effective and safer drugs with pharmaceutical and biotech companies. A spin-off from the research work of five internationally renowned scientists Louis Lagardre (Sorbonne University and CNRS), Matthieu Montes (CNAM), Jean-Philip Piquemal (Sorbonne University and CNRS), Jay Ponder (Washington University in St Louis), Pengyu Ren (University of Texas at Austin) Qubit Pharmaceuticals leverages its Atlas platform to discover new drugs through simulation and molecular modeling accelerated by hybrid HPC and quantum computing. The multidisciplinary team, led by CEO Robert Marino, and the founders are based in France at the Paris Sant Cochin incubator and in the USA in Boston. Qubit Pharmaceuticals is supported and co-funded by the European Innovation Council and SMEs Executive Agency (EISMEA) European Innovation Council (EIC).
About Sorbonne Universit
Sorbonne Universit is a world-class, multidisciplinary, research-intensive university covering the humanities, health, science and engineering. Anchored in the heart of Paris and with a regional presence, Sorbonne Universit has 55,000 students, 7,300 teaching and research staff, and over a hundred laboratories. Alongside its partners in the Sorbonne University Alliance, and via its institutes and multidisciplinary initiatives, it conducts and programs research and training activities to strengthen its collective contribution to the challenges of three major transitions: a global approach to health (One Health), resources for a sustainable planet (One Earth), and changing societies, languages and cultures (One Humanity). Sorbonne Universit is committed to innovation and deeptech with the Cit de linnovation Sorbonne Universit, over 15,000 m2 dedicated to innovation, incubation and the link between research and entrepreneurship, as well as the Sorbonne Center of Artificial Intelligence (SCAI), a house of AI in the heart of Paris, to organize and make visible multidisciplinary AI research. Sorbonne Universit is also a member of Alliance 4EU+, an innovative model for European universities that develops strategic international partnerships and promotes the openness of its community to the rest of the world.
Source: Qubit Pharmaceuticals
Treasure Hunt: 3 Quantum Computing Stocks Wall Street Hasnt Discovered Yet – InvestorPlace
Quantum computing is making notable strides, positioning itself as a compelling sector for investment. These advancements are expected to drive interest in quantum computing stocks, as the industry progresses from research and development.
For quantum computing stocks, last year was marked by some significant developments. In 2023, public funding for quantum technologies increased by more than 50%, with global investments reaching $42 billion. Private investment in quantum technology startups totaled $1.71 billion, despite a decrease from previous years.
Furthermore, there were 367,000 graduates in quantum technology-relevant fields in 2023, with a 10% increase in universities offering masters degrees in quantum technology.
So quantum computing stocks and the industry as a whole is rapidly making progress toward commercialization. Here are three companies that I feel will be in the best position moving forward to take advantage of these trends and emerge as long-term winners. Dont miss out on these opportunities.
Source: T. Schneider / Shutterstock
D-Wave Quantum (NYSE:QBTS) specializes in quantum annealing technology, which is used for optimization problems and has various industrial applications.
Despite its small size (~$200M market cap), D-Wave has established itself as an early leader in commercial quantum computing. The companys Q1 results show strong traction, with revenue up 56% year-over-year to $2.5 million and bookings up 54% to $4.5 million. D-Wave has also been steadily growing its customer base, especially among large enterprises. It currently has 128 total customers, including 25 Forbes Global 2000 companies.
Encouragingly, D-Wave has also been improving its financial profile. Gross margins expanded from 27% to 67% year-over-year in Q1 as revenue grew and operating efficiencies kicked in. Adjusted EBITDA loss narrowed by 24% to $12.9 million. While still unprofitable, D-Waves losses are moving in the right direction.
Analysts are quite bullish on the stock, with a consensus strong buy rating and an average price target of $2.80, representing 150% upside from current levels. The companys modest ~$200M enterprise value leaves ample room for appreciation if D-Wave can execute on its growth initiatives and maintain its early leadership among quantum computing stocks.
Source: Amin Van / Shutterstock.com
IonQ (NYSE: IONQ) focuses on trapped ion quantum computers, offering systems across major public cloud services. I think its definitely one of the quantum computing stocks for investors to consider.
IonQ delivered strong Q1 results, with revenue of $7.6 million coming in above the high end of guidance and representing 77% year-over-year growth. The companys systems are gaining traction with customers, as evidenced by recent announcements like DESY using IonQ Aria to optimize airport gate assignments and Oak Ridge National Lab leveraging IonQ to explore power grid optimization. IonQs technology is helping solve real-world problems today.
The company raised its full-year 2024 bookings guidance range to $75-$95 million, suggesting accelerating commercial momentum. IonQ also noted its sales pipeline is expanding significantly in deal size, volume and visibility. Analysts currently expect IonQs revenue to reach $321 million by 2027, representing a 106% CAGR from 2023 levels.
From a valuation perspective, IonQ trades at a more reasonable 50x forward sales multiple compared to some other early-stage, high-growth technology stocks. If IonQ can sustain its triple-digit revenue growth and make continued technical progress, the companys valuation could expand considerably in the coming years. Analysts average price target of $16.50 implies the stock could more than double from current levels over the next year.
Source: Shutterstock
Quantum Computing (NASDAQ:QUBT) develops hardware-agnostic quantum software solutions, enabling its software to run on various quantum machines.
QUBT reported a few encouraging data points in Q1. Operating expenses decreased 18% year-over-year to $6.4 million, driven by a 25% reduction in selling, general and administrative expenses. It also reported an increase in total assets and a decrease in total liabilities compared to year-end 2023. The company ended Q1 with $6.1 million in cash, up from $2.1 million at the end of 2023.
As for valuation, QUBTs current market cap of around $52 million looks quite steep for a pre-revenue company with consistent heavy losses. The stock trades at nearly 142x sales based on Q1s $27,000 revenue run-rate. Of course, this is not a meaningful valuation indicator given the tiny revenue base. But it does highlight how much future growth is baked into the stock price already.
The one analyst covering QUBT has a $8.75 price target, representing a staggering 1,426% upside from current levels. This price target is stale (from November 2023) and may not fully reflect market realities. Still, it could be one of those undiscovered quantum computing stocks that investors should look more into.
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Read More:Penny Stocks How to Profit Without Getting Scammed
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.
The rest is here:
Treasure Hunt: 3 Quantum Computing Stocks Wall Street Hasnt Discovered Yet - InvestorPlace
Colorado leads the world in quantum tech. Now its potential is growing. – Denver 7 Colorado News
BROOMFIELD, Colo. In an unassuming brick building in northern Colorados City of Broomfield, a new technology is harnessing the power of the very smallest particles and waves to solve our biggest problems.
On small golden chips, tiny particles known as quantum bits or qubits are trapped above the surface. Lasers and voltages move those qubits around, powering the computer of the future.
What will it mean?
Faster discovery, said Dr. Jenni Strabley who works with Quantinuum, the worlds biggest integrated quantum computing company.
Drew Smith, Denver7
Colorado already leads the world when it comes to quantum technology. Now, new investments in the Mountain Wests quantum tech hub are expanding its potential to transform everything from our health to our national security.
"If we want to live in the Jetsons Age, weve got to get this right, said Zachary Yerushalmi, chief executive and regional innovation officer for Elevate Quantum.
"The quantum community in Colorado has a gravity around it really unlike anywhere else on the planet," Yerushalmi said. "We have more organizations, more jobs, more Nobel Prizes than any other."
But to take these innovations to the next level, Yerushalmi said collaboration is key.
Local
5:26 AM, Oct 12, 2022
Elevate Quantum is the largest regional consortium of researchers and companies working together on quantum technology in the United States. And its set to keep growing. The Biden Administration recognized Elevate Quantum as a designated Tech Hub late last year, and the federal government will soon invest $40.5 million in funding through the Economic Development Administration.
On top of that, Colorado is investing $74 million in state support, including $44 million in refundable tax credits to help pay for a shared quantum research facility and $30 million to help smaller Colorado quantum companies access capital through a loan loss reserve.
Colorado Gov. Jared Polis expects these investments in quantum technology to create more than 10,000 jobs and $1 billion in economic impact statewide.
Drew Smith, Denver7
But what does quantum tech mean for the average person?
Quantum has been shaping our lives for a while, on an everyday basis, Yerushalmi said.
The atomic clock makes our internet connection and GPS systems possible.
With emerging quantum tech, literally any scientific promise that people think of is within reach, he said.
Quantum has the potential to help us cure diseases like cancer and Alzheimers, to create batteries that last an incredibly long time without needing to charge, to take artificial intelligence to the next level and even to upend our cybersecurity abilities.
"Us having these capabilities first is fundamental to national security, Yerushalmi said.
The job is to stay on top, he said, by staying together.
Looking at history, that's how it's been done. Whether it be the Manhattan Project, whether it be the Apollo Project. It was seen as, Look, guys, we just got to make it happen. So that's what we're doing, Yerushalmi said.
Drew Smith, Denver7
Quantinuum is one of the companies joining this collaboration.
This is a difficult technology to develop, said Quantinuums Dr. Strabley.
Quantum computers are expensive to fabricate and take skilled workers to operate, which is why the new investments will focus on making tech many researchers can share and training Coloradans who can fill these jobs.
Dr. Strabley said Quantinuum already shares its quantum computers capabilities by solving complex problems for clients.
You can think of scientific questions as a maze. A classic computer operates a lot like us it will look at the maze and take one path, then another, trying out every possible path until it solves the problem. But a quantum computer is so powerful, it can basically solve the whole maze all at once.
As the technology advances, Dr. Strabley said it will become faster and less energy-intensive to solve problems, including ones a classic computer cant handle at all.
She said almost all discoveries start with simulations or models. Since quantum computing will eventually be able to model things very quickly, new discoveries will come faster and faster.
Maybe it's chemistry, maybe it's machine learning, maybe it's AI, she said.
Drew Smith, Denver7
Dr. Brian Neyenhuis, another scientist at Quantinuum leading the team that operates their commercial quantum computers, said day to day, there's a lot of things going on here in Colorado.
In the control room, an array of screens help Dr. Neyenhuis and his team constantly monitor how their quantum computers are doing, so they can regulate everything from the temperature in the room to the lasers shining on the chips to manipulate the qubits.
For now, the computers fill a large room next door. The quantum chips are placed at the center of tables, surrounded by wires and hidden behind thick black curtains meant to protect scientists eyes from blinding laser beams. Someday, the technology might shrink down in size and grow in capability a lot like the computers we now hold in the palm of our hands.
"I've been dreaming about this stuff since I took my first physics classes in college, to be able to just take an individual atom and manipulate it. It's such a clean system, Dr. Neyenhuis said. That's quite beautiful.
Colorado leads the world in quantum tech. Now its potential is growing.
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Colorado leads the world in quantum tech. Now its potential is growing. - Denver 7 Colorado News