Category Archives: Quantum Computing
Oxford University’s Research Paves the Way for Secure, Cloud-Based Quantum Computing – yTech
Summary: A breakthrough in quantum computing research at Oxford University could revolutionize how individual users utilize quantum computing through cloud services over fiber optic connections. The study addresses the pivotal concern of maintaining data privacy and security in such a sensitive computational environment.
In an era where supercomputers and personal devices have dominated computational tasks, the potential for quantum computing to surpass these capacities is within reach. Notably, tech giants like Google, Amazon, and IBM are already incorporating aspects of quantum technology in their operations. The inherent challenge that arises with quantum computing is the delicate nature of quantum interactionswhere minor disturbances may lead to the collapse of the quantum state, a hurdle that must be overcome to fully harness its capabilities.
Oxford Universitys Physics Department has made a significant advance in this field, targeting the crucial aspect of secure quantum computing. As the findings in the Physics Review Letters journal suggest, the future might see the introduction of devices that connect to personal laptops, safeguarding data during the use of quantum cloud computing services.
The research introduces a novel concept of blind quantum computing. This involves a secured connection between a quantum computing server and an independent client device via a fiber network, ensuring complete data privacy and the ability to verify the accuracy and integrity of the information. The system employs an apparatus capable of detecting photons, which plays a key role in achieving the desired security during computations that depend on real-time corrections.
Under the guidance of Professor David Lucas, the Oxford team successfully demonstrated the practical application of cloud-accessible quantum computing, holding promises of full data security, privacy, and authenticity verification. This advance also opens up potential opportunities for telecom providers to support the infrastructure required for quantum networks.
Quantum Computing Industry Overview
The quantum computing field is experiencing rapid growth, fueled by its potential to solve complex problems far beyond the capacity of classical computers. Leading tech companies such as Google, Amazon, and IBM are investing heavily in quantum technology, aiming to harness it for various applications including cryptography, drug discovery, financial modeling, and climate research.
Market Forecasts
Financially, the quantum computing industry is projected to expand substantially in the coming years. Market research forecasts that the global quantum computing market, which includes hardware, software, and services, could surpass tens of billions of dollars by the end of this decade. This growth is anticipated as advancements in the field unlock new commercial uses and as industry and government investments continue to pour into research and development.
Industry Issues
However, the industry faces several challenges, with data security and privacy ranking as critical concerns. Quantum computings ability to potentially break current encryption standards poses substantial risks to data security. The Oxford University breakthrough, which addresses security concerns, is a crucial step towards countering such threats.
The sensitivity of quantum states to external disturbances is another significant issue, often referred to as quantum decoherence. Achieving long-term stability of quantum information requires technological innovations to isolate qubits (quantum bits) from environmental interference, a feat that researchers across the globe are striving to accomplish.
Additionally, building a scalable quantum computing infrastructure involves creating new standards, protocols, and devices that can operate in extreme physical conditions, usually at near absolute zero temperatures. The real-world application of quantum computing also necessitates a skilled workforce proficient in quantum mechanics and its computational applications, signaling a need for focused education and training programs.
Potential Opportunities and Advancements
With the progress at Oxford University, the concept of blind quantum computing provides a promising avenue for secure quantum data processing. The potential expansion of cloud-based quantum computing services may necessitate updates to telecommunications infrastructure, presenting opportunities for telecom companies to facilitate quantum networks.
The development reported by Oxfords team not only captures the essence of these technological breakthroughs but also highlights the potential for wide-ranging impacts across sectors that depend on computing power. As research like this develops, companies and governments must collaborate to ensure responsible stewardship of quantum computing technology and address societal and ethical implications of its deployment.
The quantum computing revolution offers an array of possibilities across industries. By overcoming the intrinsic challenges related to security, coherence, and infrastructure, the industry stands poised to redefine our capabilities in data processing and technological innovation.
Roman Perkowski is a distinguished name in the field of space exploration technology, specifically known for his work on propulsion systems for interplanetary travel. His innovative research and designs have been crucial in advancing the efficiency and reliability of spacecraft engines. Perkowskis contributions are particularly significant in the development of sustainable and powerful propulsion methods, which are vital for long-duration space missions. His work not only pushes the boundaries of current space travel capabilities but also inspires future generations of scientists and engineers in the quest to explore the far reaches of our solar system and beyond.
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Oxford University's Research Paves the Way for Secure, Cloud-Based Quantum Computing - yTech
Denver and Boulder Emerge as Quantum Computing Innovators – yTech
Summarizing the recent focus on quantum computing in Colorado, CNBC has put a spotlight on Denver and Boulder with their Cities of Success: Denver & Boulder television special. This program, which explores the economic evolution of these cities since the 1980s, highlights their new status as quantum computing centers, alongside their existing strengths in technology, life sciences, and venture capital.
As economic challenges like housing affordability and homelessness persist, the special emphasizes how quantum technology could serve as a significant driver for economic growth and help navigate these socioeconomic issues. With a nod to local success stories and potential hurdles, the special is narrated by Carl Quintanilla, who grew up in the area and is now a CNBC anchor. He brings a personal perspective to the technological and economic transformation of his hometowns.
Interviews with local government officials and business leaders, such as Colorado Governor Jared Polis and Denver Mayor Mike Johnston, provide insights into how quantum computing could influence the local economy. The program also features dialogues with quantum experts Corban Tillemann-Dick from Maybell Quantum and Zachary Yerushalmi from Elevate Quantum, who discuss the future and importance of this cutting-edge technology for the region.
Elevate Quantum has been recognized as a TechHub by the US Department of Commerce Economic Development Administration, aiming to maintain Colorados prominence in quantum technology. Meanwhile, Maybell Quantums mission is to create widely accessible quantum solutions while fostering a skilled workforce and supply chain to support the U.S. as a leader in the quantum field.
Quantum Computing as an Economic Catalyst
Quantum computing has been identified as a potential major growth sector within the tech industry. As highlighted in the CNBC Cities of Success: Denver & Boulder television special, Colorado is positioning itself as a hub for this revolutionary technology. The focus on cities like Denver and Boulder as emerging centers of quantum computing comes amidst a backdrop of broader technological developments and market trends.
Industry Insights and Market Forecasts
The quantum computing industry is at a nascent stage but promises to revolutionize various fields, including cryptography, drug discovery, financial modeling, and optimization problems across different industries. The global quantum computing market is growing rapidly, with estimates suggesting it could be worth billions of dollars in the next decade. According to industry research firms, the anticipated compound annual growth rate (CAGR) is promising, reflecting significant investment and research in the sector.
Challenges and Developments
Despite the optimism, the quantum computing industry faces challenges that involve both technical intricacies and the need for a skilled workforce. Maintaining quantum coherence, error correction, and developing algorithms that can run on qubits, which are the basic units of quantum information, remain complex tasks. Furthermore, as quantum computing continues to develop, there is a pressing need for educational programs and job training to build a workforce capable of supporting this high-tech industry.
Additionally, the industry must navigate issues such as cybersecurity concerns due to quantum computers potential to break traditional encryption methods, necessitating the development of quantum-safe encryption technologies.
Local Economic Impact and Opportunities
Quantum computing could significantly impact Colorados economy by attracting investments, creating high-tech job opportunities, and fostering innovation across various sectors. Businesses like Maybell Quantum and Elevate Quantum underscore the local capability to shape a competitive quantum landscape nationally and internationally.
Importantly, the quantum computing sector has the potential to address broader socioeconomic issues through innovation that could lead to more efficient resource allocation, better data analysis for policy-making, and advanced technologies to manage challenges such as housing affordability and homelessness.
For those interested in learning more about the industry and related organizations leading the charge, below are a few indicative links:
IBM Quantum Google Quantum AI The National Quantum Initiative
The active engagement of government officials, such as Governor Jared Polis and Denver Mayor Mike Johnston, in promoting quantum technology underscores the commitment at the state and local levels to sustain and grow Colorados presence on the quantum computing map.
In summary, while quantum computing presents its set of challenges, Denver and Boulders proactive approach sets a blueprint for economic transformation powered by high-tech innovation. Their progress can serve as a model for other cities looking to harness the potential of cutting-edge technologies for economic growth and societal benefit.
Roman Perkowski is a distinguished name in the field of space exploration technology, specifically known for his work on propulsion systems for interplanetary travel. His innovative research and designs have been crucial in advancing the efficiency and reliability of spacecraft engines. Perkowskis contributions are particularly significant in the development of sustainable and powerful propulsion methods, which are vital for long-duration space missions. His work not only pushes the boundaries of current space travel capabilities but also inspires future generations of scientists and engineers in the quest to explore the far reaches of our solar system and beyond.
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Denver and Boulder Emerge as Quantum Computing Innovators - yTech
11 quantum computing startups that VCs are watching in Europe – Sifted
European quantum startups are on the rise. Last year, while many VC-backed companies in the region were struggling to raise funds, Europes quantum startups actually saw investments grow by 3% to reach $781m more than three times the amount raised in the sector in North America ($240m).
It also made Europe the only region to see funding for quantum startups increase, while investments in North America dropped by 80%, and by 17% in Asia-Pacific.
With strong support from governments the UK has committed $4.3bn to quantum technologies, while Germany has pledged over $3.7bn and burgeoning interest from VCs, Europes quantum scene is growing steadily.
And although quantum technologies cover a number of applications, including high-quality sensors and secure communications, quantum computers often take the spotlight, especially as some made-in-Europe companies in the field start to make a name for themselves globally.
These are the quantum computing startups that investors are currently keeping an eye on, that arent featured in their portfolios.
OpenOcean is a Finnish early-stage VC firm that focuses on deeptech startups across Europe, with a particular focus on data infrastructure technologies.
Multiverse Computing is applying quantum computing to business use cases in sectors like finance and cybersecurity. It recently won a competition for a contract with the UK government to explore the use of quantum computing in the public sector. What really stands out is its acquisition of a contract outside their home geography in Spain, says Almasque. This underscores the practical, immediate utility of their quantum solutions and the crucial role that the government is taking to turbocharge this sector.
Riverlane builds the components and software needed to correct the errors made by quantum computers, which stem from the high instability of qubits and are currently holding back the performance of the devices. Riverlane is in a great position to link cutting-edge research and commercial viability, says Almasque.
Terra Quantum provides various quantum computing services to customers through the cloud. They include access to a library of hybrid algorithms which blend quantum and classical computing approaches as well as to the companys computing capabilities, which simulate quantum processors. I was impressed by its partnership with NVIDIA to develop hybrid quantum algorithms and assemble one of the worlds largest libraries of quantum algorithms, says Almasque. If we are to successfully commercialise quantum computing, we cannot neglect quantum software and libraries.
Pasqal builds quantum computers based on neutral atoms. In 2022, the company merged with quantum software startup Qu&Co to expand the application of its hardware to specific use cases. It is making significant strides towards achieving practical quantum advantage, focusing on solving real-world problems, says Almasque.
Runa Capital is an early-stage VC firm based in Luxembourg that invests in deeptech, enterprise software and fintech infrastructure.
A spinout of RWTH Aachen University, Arque Systems builds and commercialises quantum computers based on silicon-spin qubits. At the moment, the silicon platform is less mature than the others but is very promising due to compatibility with existing semiconductor fabrication technologies and its ability to scale to millions of qubits, says Galperin. The technology is developing at a canter and several startups worldwide are working hard to try and leverage it.
Orange Quantum Systems is developing equipment that analyses the performance of superconducting chips for quantum computers a slow and complex process that requires cooling to chips to temperatures lower than -150 degrees Celsius. Testing quantum chips is unlikely to gather as many headlines as those startups that are building quantum computers, but this is nevertheless a very important part of the production process, says Galperin. Orange Quantum Systems is attempting to automate this process.
Redstone is a multi-fund VC firm based in Germany, and its quantum fund focuses on investing worldwide in quantum technologies computing, communication and sensing as well as quantum-adjacent and enhanced AI technology, targeting pre-seed to series A stage companies.
With a distributed team across the UK, Switzerland and Ukraine, Haiqu develops software to mitigate noise and errors, says Decaroli. Error mitigation is crucial in being able to extract as much value as possible out of today's and tomorrow's quantum computers, and to be able to reduce the resources needed to run quantum algorithms.
Alice&Bob is building a quantum computer based on cat qubits a type of superconducting circuit that by design is more resilient to noise. Only a few players focus on this kind of architecture today, including AWS, says Decaroli.
Pixel Photonic builds single-photon detectors, which can be used to generate the photonic qubits that form the basis of some quantum computers. The technology also has applications outside of quantum computing, for imaging, light detection and in quantum communications.
Algorithmiq develops quantum algorithms for applications in the life sciences, such as molecular structure prediction, drug discovery and drug design. The company says that its algorithms are designed to work on near-term quantum computers. They also focus on proprietary error mitigation techniques and believe quantum advantage is within reach thanks to their methods, says Decaroli.
One of the later joiners to the quantum computing hardware sector, planqc was founded in 2022 in Munich. The company, like Pasqal, builds quantum computers based on neutral atoms. It was recently awarded a 29m contract to deploy a quantum computer at the German Aerospace Centre.
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11 quantum computing startups that VCs are watching in Europe - Sifted
Microsoft says it’s cracked the code on an important quantum computing problem – The Verge
Microsoft says its figured out how to improve error rates in quantum computing, bringing quantum computing closer to a commercial state.
The company worked in collaboration with quantum computing hardware maker Quantinuum to improve the performance of the qubit the very basic unit of quantum computing. Qubits work by holding two different phases at once (instead of just a one and a zero, its both), but they arent very stable, making it easy for them to lose data. Researchers can now create several logical qubits, or qubits that are more stable while holding these different states.
Krysta Svore, vice president of advanced quantum development at Microsoft, told The Verge in an interview that because qubits are prone to errors, researchers needed to find a way to stabilize them.
We need reliable quantum computing, and not just in theory; we need to demonstrate that it can work in practice, Svore says. I like to think of it as putting noise-cancelling headphones on the qubits.
She says that these more reliable qubits help quantum computing graduate from level one, the more foundational level with qubits prone to mistakes and are usually referred to as noisy, to the next level, where scientists can run more calculations correctly and scale up the technology for more commercial use.
Other quantum computing experts welcomed Microsoft and Quantinuums advancement. Henry Yuen, associate professor of computer science at Columbia and a theoretical computer scientist, tells the Verge via email this may just be the beginning of more discoveries that make quantum computing easier.
Were far from the final destination, but the signposts are getting more frequent and are indicating that some major milestones are coming up soon, Yuen says. Im sure there will be bigger and better demonstrations of quantum fault tolerance coming soon.
Microsoft brought its qubit-virtualization system, which Svore says abstracts groups of physical qubits together, to Quantiuums quantum computer to create virtual logical qubits.
With it, users could create qubits with a longer fault tolerance, or time without encountering an error. The team created four reliable logical qubits from only 30 physical qubits. Previously, the scientific consensus was that hundreds of physical qubits were needed to make a couple of logical qubits that didnt fail, and they would have taken decades to create.
The teams ran 14,000 calculations without losing the quantum state and found they improved the error rate by a factor of 800 over physical qubits. Svore says the system could detect and fix errors without destroying the logical qubit and keeping the string of calculations going.
Microsoft is now figuring out how to bring this capability to Azure Quantum Elements, its platform for scientists to use AI, high-performance computing, and quantum computing to run scientific experiments.
Yuen says that while he thinks the term quantum virtualization may be Microsofts branding for error-correcting code, its findings could be scalable for other quantum computing companies to try on their own.
Quantum computing has always seemed like far into the future innovation, despite the idea and experimentation being around for decades. Companies such as IBM, Microsoft, and Google have been trying to make quantum computing reliable, safe, cost-effective, and, more importantly, useful for years.
Quantinuum chief product officer Ilyas Khan and senior director of offering management Jenni Strabley said in a blog post that they plan to continue improving the system to create more reliable logical qubits.
In the short term with a hybrid supercomputer powered by a hundred reliable logical qubits, we believe that organizations will be able to start to see scientific advantages and will be able to accelerate valuable progress toward some of the most important problems that mankind faces such as modeling the materials used in batteries and hydrogen fuel cells or accelerating the development of meaning-aware AI language models, Quantinuum said in its post.
Now, with Microsoft and Quantiuums work, its up to others to see if they can replicate the same thing.
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Microsoft says it's cracked the code on an important quantum computing problem - The Verge
New bill would greatly expand Defense Department quantum efforts – Defense One
Republican lawmakers will introduce a new bill Wednesday to accelerate the Defense Departments use of quantum information science, from sensing and navigation to more ambitious goals of quantum computing for advanced artificial intelligence applications.
Rep. Elise Stefanik, R-N.Y., and Sen. Marsha Blackburn, R-Tenn., will introduce the Defense Quantum Acceleration Act. The legislation would direct the Defense Department to establish a new quantum advisor role and stand up a center of excellence to explore and identify [quantum information science] technologies that have demonstrated value in advancing the priorities and missions of the Department, according to the text of the bill, viewed exclusively by Defense One.
Quantum information science, which takes advantage of the unique properties of quantum mechanics, has many potential defense applications. Information thats encrypted on the quantum level cant be secretly intercepted because attempting to measure a quantum property changes it. Quantum sensors can relay information about location, making them a more secure means of navigation than GPS, which can be spoofed. Quantum computers, today in their infancy, could eventually process information exponentially more effectively than conventional computers. The National Academies of Sciences has said quantum computers are the only known model for computing that could offer exponential speedup over todays computers.
But China has outpaced the Defense Department in terms of investment in quantum technology, dedicating $15 billion over the next five yearsor $3 billion a yearas opposed to the $700 million yearly Defense Department investment.
The new bill doesnt push the Defense Department to match Chinas numbers, as private companies like IBM, Google, and Lockheed Martin are also heavily spending research and development dollars on next-generation quantum computing. But it does raise the profile of quantum technology within the Defense Department and, theoretically, would allow the Pentagon to start buying more quantum technologies faster, enabling quicker innovation from private companies.
Quantums impact on our national security will be considerable, and we must take immediate steps to ensure the United States is the first nation to reach quantum advantage. This bill will ensure the Department of Defense, led by the incredible work at [The U.S. Air Force Rome Laboratory in New York] is able to outpace our adversaries and rapidly develop and transition quantum technologies to our service members, Stefanik said in a statement.
The Defense Department already has a director of quantum science in the office of the undersecretary for research and engineering. Under the bill, the newly-established quantum advisor would have a much-expanded role, coordinating with combatant commands on where they might need or use quantum science, coordinating with allies like Australia to share knowledge and best practices, and specifically looking at the challenges the Defense Department faces to determine if quantum information science might help.
The bill would also direct the stand-up of a center to coordinate with businesses and academia and develop prototypes of more near-term quantum technologies for sensing and navigation, in addition to accelerating quantum computing research.
Chris Padilla, vice president of government and regulatory affairs at IBM, applauded the introduction of the act, which he said, helps ensure the Department of Defense embraces this revolutionary technology. For national defense and economic security reasons, the United States must maintain a leadership position in quantum computing, and this legislation supports that effort. IBM encourages Congress to pass it and the administration to begin deploying quantum-centric supercomputing.
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New bill would greatly expand Defense Department quantum efforts - Defense One
What’s after AI? The next watershed technology could be quantum computing – ABC News
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What's after AI? The next watershed technology could be quantum computing - ABC News
Grand opening of the IBM Quantum System One at Rensselaer – The Rensselaer Polytechnic
The night before the unveiling ceremony, CBS News Correspondent David Pogue arrived at EMPAC to deliver a piece on the quick and frightening progress of AI. Pogue discussed the growing capabilities of generative AIs, such as Dall-E, Sora, and, of course, ChatGPT. He emphasized that quantum computing would take AI to an unprecedented level and that no one could foresee all that AI would do. However, Pogue chose to address and assuage many fears and apprehensions surrounding AI, such as job loss and misinformation. The fear of job loss was something Pogue addressed as reasonable, and he chose to compare it to the 95%(40% - 2%) drop in jobs in agriculture in the last 100 years. While many jobs in a particular industry began to disappear, many new jobs that were inconceivable to people in the early 20th century popped up in its place. As for misinformation, Pogue highlighted that AI was still in its springtime and that improvement and betterment to avoid misinformation would surely come with more development. Pogue rounded out his speech with a piano and vocal performance of his hit iPhone parody of the song My Way by Frank Sinatra.
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Grand opening of the IBM Quantum System One at Rensselaer - The Rensselaer Polytechnic
Chicago’s Quantum Leap: A New Frontier in Computing and Jobs – yTech
Summary: Chicago emerges as a potential quantum computing giant as plans unfold for a new manufacturing plant spearheaded by PsiQuantum and state officials. In partnership with the University of Chicago, the plant aims to revitalize industrial sites, bring over a thousand jobs, and align with explosive market trends.
Chicago gears up to stake its claim in the burgeoning field of quantum computing, with state officials collaborating with PsiQuantum to develop a trailblazing quantum computing manufacturing facility. This bold move promises to repurpose abandoned industrial spaces into vibrant centers of technological growth, paving the way for the city to become a nexus of pioneering quantum research and innovation.
The convergence of academia and industry is at the epicenter of this development, with the University of Chicagos expertise in quantum studies playing a crucial role. Chicagos initiative is not a mere addition to its industrial landscape but signifies deeper dedication to economic rejuvenation and technological evolution. Through this effort, a broad spectrum of industries, from healthcare to artificial intelligence, may soon witness a transformative shift in their computational capabilities.
Facing the challenges unique to quantum technology, like the creation of a skilled workforce and overcoming key scientific obstacles, Chicago is plotting a trajectory that could define its future and bolster its economy.
The global industry is on the precipice of a quantum leap, and market analysts have predicted a rapid growth spurt in this sector, offering profound prospects for the citys technological ambitions.
As the wave of quantum technology innovations rises, Chicago is poised to ride atop this tide, seeking to reinforce its status as a dynamic hub of creativity and scientific advancement. This vision not only mirrors Chicagos resilient spirit but showcases its readiness to lead in a high-stakes tech revolution. For enthusiasts and industry watchers, advice remains to keep an eye out for updates in quantum computing news and research for a clearer picture of Chicagos role in transforming the global technological landscape.
Chicago Emerges as a Key Player in Quantum Computing
Chicago is making a strategic leap into the future with the announcement of a new quantum computing manufacturing plant, marking its territory in the high-tech industry. This initiative, fostered through a partnership between PsiQuantum and state officials, signifies a major push towards reinvigorating the citys industrial zones and generating significant employment opportunities, with over a thousand jobs on the horizon.
The University of Chicago: A Catalyst for Innovation
The University of Chicago plays a pivotal role in this endeavor, bringing its renowned research capabilities to a field where academia meets industry. The collaboration sets the stage for a symbiotic relationship, providing the crucial academic grounding needed to tackle the complexities of quantum computing.
Revolutionizing Various Industries
The repercussions of this development are far-reaching, with potential ripple effects across myriad sectors. Quantum computing has the transformative potential to enhance areas such as cybersecurity, material sciences, pharmaceuticals, and complex data analysis, essentially redefining the scope and speed at which problems can be tackled.
Market Forecasts and Economic Potential
Analysts are watching the quantum computing market closely, predicting explosive growth. According to several market forecasts, the industry is expected to expand significantly over the next decade, creating a lucrative opportunity for early adopters like Chicago.
Overcoming Challenges in Quantum Computing
Despite the promise, the nascent state of quantum technology presents unique hurdles. Developing a skilled workforce to navigate this complex field, along with surmounting scientific and technical barriers, remains a top priority for the industry.
Chicagos Technological Renaissance
Undeterred by these challenges, Chicagos initiative is a testament to the citys resurgence as an axis of technological prowess and economic dynamism. It stands on the cutting edge, well-poised to tap into the quantum computing revolution that is reshaping the technological landscape.
For those keen on following the latest trends and updates in quantum technology, keep an eye on industry news to see how Chicagos endeavors influence the global tech scene. To learn more about the industry at large, you can visit reputable sources such as IBM Quantum for ongoing developments and breakthroughs in the quantum computing space.
Leokadia Gogulska is an emerging figure in the field of environmental technology, known for her groundbreaking work in developing sustainable urban infrastructure solutions. Her research focuses on integrating green technologies in urban planning, aiming to reduce environmental impact while enhancing livability in cities. Gogulskas innovative approaches to renewable energy usage, waste management, and eco-friendly transportation systems have garnered attention for their practicality and effectiveness. Her contributions are increasingly influential in shaping policies and practices towards more sustainable and resilient urban environments.
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Chicago's Quantum Leap: A New Frontier in Computing and Jobs - yTech
Microsoft makes major quantum computing breakthrough development of most stable qubits might actually make the … – TechRadar
Unlike traditional computing that uses binary bits, quantum computing uses quantum bits or 'qubits', enabling simultaneous processing of vast amounts of data, potentially solving complex problems much faster than conventional computers.
In a major step forward for quantum computing, Microsoft and Quantinuum have unveiled the most reliable logical qubits to date, boasting an error rate 800 times lower than physical qubits.
This groundbreaking achievement involved running over 14,000 individual experiments without a single error, which could make quantum computing a viable technology for various industries.
Microsoft says the successful demonstration was made possible by applying its innovative qubit-virtualization system (coupled with error diagnostics and correction) to Quantinuum's ion-trap hardware. Jason Zander, EVP of Strategic Missions and Technologies at Microsoft, says, "This finally moves us out of the current noisy intermediate-scale quantum (NISQ) level to Level 2 Resilient quantum computing."
The potential of this advancement is enormous. As Zander says, With a hybrid supercomputer powered by 100 reliable logical qubits, organizations would start to see the scientific advantage, while scaling closer to 1,000 reliable logical qubits would unlock commercial advantage.
Quantum computing holds enormous promise for solving some of society's most daunting challenges, including climate change, food shortages, and the energy crisis. These issues often boil down to complex chemistry and materials science problems, which classical computing struggles to handle but which would be far easier for Quantum computers to manage.
The task now, Microsoft says, is to continue improving the fidelity of qubits and enable fault-tolerant quantum computing. This will involve transitioning to reliable logical qubits, a feat achieved by merging multiple physical qubits to protect against noise and sustain resilient computation.
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While the technology's potential is immense, its widespread adoption will depend on its accessibility and cost-effectiveness. For now, though, Microsoft and Quantinuum's breakthrough marks a significant step towards making quantum computing a practical reality.
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The 3 Most Undervalued Quantum Computing Stocks to Buy in April 2024 – InvestorPlace
The quantum computing industry is still in its relatively early stages, which means many companies in this space could be trading at attractive valuations compared to their long-term growth potential. This provides opportunities for the most undervalued quantum computing stocks to buy in April.
One reason for undervaluation is the high degree of uncertainty surrounding the timeline for widespread commercialization and adoption of quantum computing. Some big brands, such as Microsoft (NASDAQ:MSFT) and IBM (NYSE:IBM), might not be considered undervalued given that they are blue-chips in their own right. Investors should explore more speculative names for the best bargains.
Additionally, many prominent quantum computing players are still pre-revenue or in the early stages of generating meaningful sales. Traditional valuation metrics like price-to-earnings may not yet be applicable, leaving investors to rely more on future growth projections, which can be difficult to assess accurately.
However, the most undervalued quantum computing stocks to buy in April could be long term winners. Here are three companies to consider.
IonQ (NYSE:IONQ) focuses exclusively on quantum computing, offering quantum computing systems across major public cloud services. With a market cap of around 1.9 billion, its also small enough to ride the ups and downs of the market while still being robust enough to withstand volatility. It also means there could be plenty of upside, which may make it undervalued.
For 2024, IONQ has set its revenue expectations between $37 million and $41 million, with bookings projected to range from $70 million to $90 million. However, the company anticipates an adjusted EBITDA loss of approximately $110.5 million. Its EBITDA loss helps make it undervalued. In the long term, its prospects are attractive.
In terms of valuation, it trades at a forward price-to-sales multiple of 47 times sales. Still, this is relatively low compared to analysts long-term revenue growth rate, which is another hint of trading below its intrinsic value.
Rigetti Computing (NASDAQ:RGTI) specializes in developing quantum integrated circuits and a cloud platform for quantum algorithms.
RGTI could be one of the most undervalued quantum computing stocks on this list, as its market cap is just 219 million at the time of writing, so theres substantial room for it to head higher. Its forward P/E ratio of 13 times sales underlines this undervalued nature.
Financially, theres also some evidence that RGTI could be undervalued, and the companys best is yet to come.
In the fourth quarter of 2023, RGTI reported revenues of $3.4 million, a decrease from $6.1 million in 2022. The gross margin stood at 75%, slightly declining from 87% in the fourth quarter of 2022. The net loss for Q4 2023 improved to $12.6 million, or $0.09 per share, from a net loss of $22.9 million, or $0.19 per share.
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Amazon (NASDAQ:AMZN), with its AWS Braket service, provides a platform for experimenting with quantum computing. I think that AMZN could be one of the most undervalued FAANG stocks and one of the most underappreciated quantum players in the quantum computing industry.
AWS Braket is designed to speed up scientific research and software development for quantum computing. It particularly stands out with the launch of IonQ Aria, the first Quantum Processing Unit (QPU) on Braket to feature built-in error mitigation techniques.
On the financial front, Amazon demonstrated robust performance in the fourth quarter, reporting record operating profits of $13.2 billion, a substantial increase from the previous years $2.7 billion. Amazons revenue also surged by 14% year-over-year to $169.9 billion.
With many developers already familiar with the tools provided by AWS and its related certifications, it gives it a significant leg up over its competitors, thus making it a strong contender for the top spot in the quantum computing industry.
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.
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.
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The 3 Most Undervalued Quantum Computing Stocks to Buy in April 2024 - InvestorPlace