Category Archives: Quantum Computing
Multiverse Computing Named a 2022 Gartner Cool Vendor in Quantum Computing – Business Wire
SAN SEBASTIN, Spain--(BUSINESS WIRE)--Multiverse Computing, a global leader in delivering value-based quantum computing solutions in finance and beyond, today announced it has been named a Gartner 2022 Cool Vendor in Quantum Computing.
Gartner states, This report is designed to highlight interesting, new and innovative vendors, products and services.
In the key findings of its Cool Vendors in Quantum Computing report, Gartner noted, Innovation in quantum systems technologies continues to ramp up with significant improvements in devising, controlling and scaling quantum systems that offer the promise of increased resiliency and scalability of usable qubits.
The report further noted that advances in quantum software technologies and services enable integration of quantum solutions exploration in the financial services industry.
Multiverses Singularity, its flagship product for the financial industry, provides quantum solutions for investment portfolio optimization and other finance applications through a simple and intuitive Microsoft Excel frontend. Singularity is designed to enable financial professionals to access the power of quantum computing without requiring previous expertise or knowledge. A video of Multiverses Singularity can be seen here.
We are honored to be recognized as a 2022 Gartner Cool Vendor, said Enrique Lizaso Olmos, CEO of Multiverse Computing. Being recognized by the knowledgeable and independent analysts at Gartner validates our company mission to deliver real-world business value from quantum computing to clients as early as possible in this nascent industry.
The Gartner report can be found here.
Gartner Disclaimer
GARTNER and COOL VENDORS are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartners research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Multiverse Computing
Multiverse Computing is a leading quantum software company that applies quantum and quantum-inspired solutions to tackle complex problems in finance to deliver value today and enable a more resilient and prosperous economy. The companys expertise in quantum control and computational methods as well as finance means it can secure maximum results from current quantum devices. Its flagship product, Singularity, allows financial professionals to leverage quantum computing with common software tools. The company is targeting additional verticals as well, including mobility, energy, the life sciences and industry 4.0.
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Multiverse Computing Named a 2022 Gartner Cool Vendor in Quantum Computing - Business Wire
Global Quantum Computing Market is estimated to be US$ 4531.04 billion by 2030 with a CAGR of 28.2% during the forecast period – By PMI -…
Covina, June 22, 2022 (GLOBE NEWSWIRE) -- The discovery of potential COVID-19 therapeutics has a bright future due toquantum computing. New approaches to drug discovery are being investigated with funding from the Penn State Institute for Computational and Data Sciences, coordinated through the Penn State Huck Institutes of the Life Sciences. For businesses in the quantum computing market, these tendencies are turning into lucrative opportunities during forecast period. Research initiatives that are assisting in the screening of billions of chemical compounds to uncover suitable medication candidates have been made possible by the convergence of machine learning and quantum physics. Stakeholders in the quantum computing business are expanding the availability of supercomputers and growing R&D in artificial intelligence to support these studies (AI). The energy and electricity sector offers lucrative potential for businesses in the quantum computing market. As regard to whole assets, work overs, and infrastructure, this technology is assisting players in the energy and power sector in making crucial investment decisions. Budgetary considerations, resource constraints, and contractual commitments may all be factors in these issues that quantum computing can help to resolve.
Region Analysis:
North America is predicted to hold a large market share for quantum computing due to its early adoption of cutting-edge technology. Additionally, the existence of a competitive market and end-user acceptance of cutting-edge technology may promote market growth. Sales are anticipated to increase throughout Europe as a result of the rise of multiple startups, favourable legislative conditions, and the growing use of cloud technology. In addition, it is anticipated that leading companies' company expansion will accelerate market growth. The market is anticipated to grow in Asia Pacific as a result of the growing need for quantum computing solutions for simulation, optimization, and machine learning.
Key Highlights:
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Key Market Insights from the report:
Global Quantum Computing Market size accounted for US$ 387.3 billion in 2020 and is estimated to be US$ 4531.04 billion by 2030 and is anticipated to register a CAGR of 28.2%.The Global Quantum Computing Market is segmented based on component, application, end-user industry and region.
Competitive Landscape & their strategies of Quantum Computing Market:
Key players in the global quantum computing market include Wave Systems Corp, 1QB Information Technologies Inc, QC Ware, Corp, Google Inc, QxBranch LLC, Microsoft Corporation, International Business Machines Corporation, Huawei Technologies Co., Ltd, ID Quantique SA, and Atos SE.
Scope of the Report:
Global Quantum Computing Market, By Component, 2019 2029, (US$ Mn)
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Some Important Points Answered in this Market Report Are Given Below:
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Global Quantum Computing Market is estimated to be US$ 4531.04 billion by 2030 with a CAGR of 28.2% during the forecast period - By PMI -...
Quantum computing: D-Wave shows off prototype of its next quantum annealing computer – ZDNet
Image: Wacomka/Shutterstock
Quantum-computing outfit D-Wave has announced commercial access to an "experimental prototype" of its Advantage2 quantum annealing computer.
D-Wave is beating its own path to qubit processors with its quantum annealing approach. According to D-Wave, the Advantage2 prototype available today features over 500 qubits. It's a preview of a much larger Advantage2 it hopes to be available by 2024 with 7,000 qubits.
Access to the Advantage2 prototype is restricted to customers who have a D-Wave's Leap cloud service subscription, but developers interested in trying D-Wave's quantum cloud can sign up to get "one minute of free use of the actual quantum processing units (QPUs) and quantum hybrid solvers" that run on its earlier Advantage QPU.
The Advantage2 prototype is built with D-Wave's Zephyr connection technology that it claims offers higher connectivity between qubits than its predecessor topology called Pegasus, which is used in its Advantage QPU.
D-Wave says the Zephyr design enables shorter chains in its Advantage2 quantum chips, which can make them friendlier for calculations that require extra precision.
SEE:What is quantum computing? Everything you need to know about the strange world of quantum computers
"The Advantage2 prototype is designed to share what we're learning and gain feedback from the community as we continue to build towards the full Advantage2 system," says Emile Hoskinson, director of quantum annealing products at D-Wave.
"With Advantage2, we're pushing that envelope again demonstrating that connectivity and reduction in noise can be a delivery vehicle for even greater performance once the full system is available. The Advantage2 prototype is an opportunity for us to share our excitement and give a sneak peek into the future for customers bringing quantum into their applications."
While quantum computing is still experimental, senior execs are priming up for it as a business disruptor by 2030, according to a survey by consultancy EY. The firm found found that 81% of senior UK executives expect quantum computing to play a significant role in their industry by 2030.
Fellow consultancy McKinsey this month noted funding for quantum technology startups doubled in the past two years, from $700 million in 2020 to $1.4 billion in 2021. McKinsey sees quantum computing shaking up pharmaceuticals, chemicals, automotive, and finance industries, enabling players to "capture nearly $700 billion in value as early as 2035" through improved simulation and better machine learning. It expects revenues from quantum computing to exceed $90 billion by 2040.
D-Wave's investors include PSP Investments, Goldman Sachs, BDC Capital, NEC Corp, Aegis Group Partners, and the CIA's VC firm, In-Q-Tel.
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Quantum computing: D-Wave shows off prototype of its next quantum annealing computer - ZDNet
McKinsey thinks quantum computing could create $80b in revenue … eventually – The Register
In the hype-tastic world of quantum computing, consulting giant McKinsey & Company claims that the still-nascent field has the potential to create $80 billion in new revenue for businesses across industries.
It's a claim McKinsey has repeated nearly two dozen times on Twitter since March to promote its growing collection of research diving into various aspects of quantum computing, from startup and government funding to use cases and its potential impact on a range of industries.
The consulting giant believes this $80 billion figure represents the "value at stake" for quantum computing players but not the actual value that use cases could create [PDF]. This includes companies working in all aspects of quantum computing, from component makers to service providers.
Despite wildly optimistic numbers, McKinsey does ground the report in a few practical realities. For instance, in a Wednesday report, the firm says the hardware for quantum systems "remains too immature to enable a significant number of use cases," which, in turn, limits the "opportunities for fledgling software players." The authors add that this is likely one of the reasons why the rate of new quantum startups entering the market has begun to slow.
Even the top of McKinsey's page for quantum computing admits that capable systems won't be ready until 2030, which is in line with what various industry players, including Intel, are expecting. Like fusion, it's always a decade or so away.
McKinsey, like all companies navigating if quantum computing has any real-world value, is trying to walk a fine line, exploring the possibilities of quantum computing while showing the ways the tech is still disconnected from ordinary enterprise reality.
"While quantum computing promises to help businesses solve problems that are beyond the reach and speed of conventional high-performance computers, use cases are largely experimental and hypothetical at this early stage. Indeed, experts are still debating the most foundational topics for the field," McKinsey wrote in a December 2021 article about how use cases "are getting real."
One could argue the report is something of a metaphor for the quantum industry in 2022. Wildl optimism about future ecosystem profitability without really understanding what the tech will mean and to whom--and at what scale.
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McKinsey thinks quantum computing could create $80b in revenue ... eventually - The Register
Chicago Quantum Exchange takes first steps toward a future that could revolutionize computing, medicine and cybersecurity – Chicago Tribune
Flashes of what may become a transformative new technology are coursing through a network of optic fibers under Chicago.
Researchers have created one of the worlds largest networks for sharing quantum information a field of science that depends on paradoxes so strange that Albert Einstein didnt believe them.
The network, which connects the University of Chicago with Argonne National Laboratory in Lemont, is a rudimentary version of what scientists hope someday to become the internet of the future. For now, its opened up to businesses and researchers to test fundamentals of quantum information sharing.
The network was announced this week by the Chicago Quantum Exchange which also involves Fermi National Accelerator Laboratory, Northwestern University, the University of Illinois and the University of Wisconsin.
People work in the Pritzker Nanofabrication Facility, June 15, 2022, inside the William Eckhardt Research Center at the University of Chicago. The Chicago Quantum Exchange is expanding its quantum network to make it available to more researchers and companies. Quantum computing is a pioneering, secure format said to be hacker-proof and of possible use by banks, the health care industry, and others for secure communications. (Erin Hooley / Chicago Tribune)
With a $500 million federal investment in recent years and $200 million from the state, Chicago, Urbana-Champaign, and Madison form a leading region for quantum information research.
Why does this matter to the average person? Because quantum information has the potential to help crack currently unsolvable problems, both threaten and protect private information, and lead to breakthroughs in agriculture, medicine and climate change.
While classical computing uses bits of information containing either a 1 or zero, quantum bits, or qubits, are like a coin flipped in the air they contain both a 1 and zero, to be determined once its observed.
That quality of being in two or more states at once, called superposition, is one of the many paradoxes of quantum mechanics how particles behave at the atomic and subatomic level. Its also a potentially crucial advantage, because it can handle exponentially more complex problems.
Another key aspect is the property of entanglement, in which qubits separated by great distances can still be correlated, so a measurement in one place reveals a measurement far away.
The newly expanded Chicago network, created in collaboration with Toshiba, distributes particles of light, called photons. Trying to intercept the photons destroys them and the information they contain making it far more difficult to hack.
The new network allows researchers to push the boundaries of what is currently possible, said University of Chicago professor David Awschalom, director of the Chicago Quantum Exchange.
Fourth-year graduate student Cyrus Zeledon, left, and postdoctoral student Leah Weiss, right, show senior undergraduate Tiarna Wise around one of the quantum science laboratories, June 15, 2022, inside the William Eckhardt Research Center at the University of Chicago. (Erin Hooley / Chicago Tribune)
However, researchers must solve many practical problems before large-scale quantum computing and networking are possible.
For instance, researchers at Argonne are working on creating a foundry where dependable qubits could be forged. One example is a diamond membrane with tiny pockets to hold and process qubits of information. Researchers at Argonne also have created a qubit by freezing neon to hold a single electron.
Because quantum phenomena are extremely sensitive to any disturbance, they might also be used as tiny sensors for medical or other applications but theyd also have to be made more durable.
The quantum network was launched at Argonne in 2020, but has now expanded to Hyde Park and opened for use by businesses and researchers to test new communication devices, security protocols and algorithms. Any venture that depends on secure information, such as banks financial records of hospital medical records, would potentially use such a system.
Quantum computers, while in development now, may someday be able to perform far more complex calculations than current computers, such as folding proteins, which could be useful in developing drugs to treat diseases such as Alzheimers.
In addition to driving research, the quantum field is stimulating economic development in the region. A hardware company, EeroQ, announced in January that its moving its headquarters to Chicago. Another local software company, Super.tech, was recently acquired, and several others are starting up in the region.
Because quantum computing could be used to hack into traditional encryption, it has also attracted the bipartisan attention of federal lawmakers. The National Quantum Initiative Act was signed into law by President Donald Trump in 2018 to accelerate quantum development for national security purposes.
In May, President Joe Biden directed federal agency to migrate to quantum-resistant cryptography on its most critical defense and intelligence systems.
Ironically, basic mathematical problems, such as 5+5=10, are somewhat difficult through quantum computing. Quantum information is likely to be used for high-end applications, while classical computing will likely continue to be practical for many daily uses.
Renowned physicist Einstein famously scoffed at the paradoxes and uncertainties of quantum mechanics, saying that God does not play dice with the universe. But quantum theories have been proven correct in applications from nuclear energy to MRIs.
Stephen Gray, senior scientist at Argonne, who works on algorithms to run on quantum computers, said quantum work is very difficult, and that no one understands it fully.
But there have been significant developments in the field over the past 30 years, leading to what some scientists jokingly called Quantum 2.0, with practical advances expected over the next decade.
Were betting in the next five to 10 years therell be a true quantum advantage (over classical computing), Gray said. Were not there yet. Some naysayers shake their canes and say its never going to happen. But were positive.
Just as early work on conventional computers eventually led to cellphones, its hard to predict where quantum research will lead, said Brian DeMarco, professor of physics at the University of Illinois at Urbana-Champaign, who works with the Chicago Quantum Exchange.
Thats why its an exciting time, he said. The most important applications are yet to be discovered.
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Chicago Quantum Exchange takes first steps toward a future that could revolutionize computing, medicine and cybersecurity - Chicago Tribune
Businesses brace for quantum computing disruption by end of decade – The Register
While business leaders expect quantum computing to play a significant role in industry by 2030, some experts don't believe the tech is going to be ready for production deployment in the near future.
The findings, from a survey titled "2022 Quantum Readiness" commissioned by consultancy EY, refer to UK businesses, although it is likely that the conclusions are equally applicable to global organizations.
According to EY, 81 percent of senior UK executives expect quantum computing to have a significant impact in their industry within seven and a half years, with almost half (48 percent) believing that quantum technology will begin to transform industries as soon as 2025.
As for the naysayers who say quantum tech won't be ready for live deployment any time soon, the industry also suffers from a hype problem, with capabilities being exaggerated and even some accusations flying around of alleged falsification, as with the example of quantum startup IonQ that was recently accused by Scorpion Capital of misleading investors about the effectiveness of its quantum hardware.
Joseph Reger, Fujitsu Fellow, CTO of Central and Eastern Europe and Member of Quantum Computing Council of World Economic Forum, told The Register he is getting some "heat" for saying quantum is not nearly a thing yet.
"There are impressive advantages that pre-quantum or quantum-inspired technologies provide. They are less sexy, but very powerful."
He added: "Some companies are exaggerating the time scales. If quantum computing gets overhyped, we are likely to face the first quantum winter."
Fujitsu is itself developing quantum systems, and announced earlier this year that it was working to integrate quantum computing with traditional HPC technology. The company also unveiled a high performance quantum simulator based on its PRIMEHPC FX 700 systems that it said will serve as an important bridge towards the development of quantum computing applications in future.
Meanwhile, EY claims that respondents were "almost unanimous" in their belief that quantum computing will create a moderate or high level of disruption for their own organization, industry sector, and the broader economy in the next five years.
Despite this, the survey finds that strategic planning for quantum computing is still at an embryonic stage for most organizations, with only 33 percent involved in strategic planning for how quantum will affect them and only a quarter have appointed specialist leaders or set up pilot teams.
The survey conducted in February-March 2022 covered 501 UK-based executives, all with senior roles in their organisations, who had to demonstrate at least a moderate (but preferably a high) level of understanding of quantum computing. EY said they originally approached 1,516 executives, but only 501 met this requirement, which in and of itself tells a tale.
EY's Quantum Computing Leader, Piers Clinton-Tarestad, said the survey reveals a disconnect between the pace at which some industry leaders expect quantum to start affecting business and their preparedness for those impacts.
"Maximizing the potential of quantum technologies will require early planning to build responsive and adaptable organisational capabilities," he said, adding that this is a challenge because the progress of quantum has accelerated, but it is "not following a steady trajectory."
For example, companies with quantum processors have increased the power of their hardware dramatically over the past several years, from just a handful of qubits to over a hundred in the case of IBM, which expects to deliver a 4,158-qubit system by 2025. Yet despite these advances, quantum computers remain a curiosity, with most operational systems deployed in research laboratories or made available via a cloud service for developers to experiment with.
Clinton-Tarestad said "quantum readiness" is "not so much a gap to be assessed as a road to be walked," with the next steps in the process being regularly revisited as the landscape evolves. He warned businesses that expect to see disruption in their industry within the next three or five years need to act now.
According to EY's report, executives in consumer and retail markets are those most likely to believe that quantum will play a significant role by 2025, with just over half of technology, media and telecommunications (TMT) executives expecting an impact within the same time frame. Most respondents among health and life sciences companies think this is more likely to happen later, between 2026 and 2035.
Most organizations surveyed expect to start their quantum preparations within the next two years, with 72 percent aiming to start by 2024.
However, only a quarter of organizations have got as far as recruiting people with the necessary skills to lead quantum computing efforts, although 68 percent said they are aiming to set up pilot teams to explore the potential of quantum for their business by 2024.
Fear of falling behind because rival companies are working to develop their own quantum capabilities is driving some respondents to start quantum projects, while the applications of quantum computing anticipated by industry leaders would advance operations involving AI and machine learning, especially among financial services, automotive and manufacturing companies. TMT respondents cited potential applications in cryptography and encryption as being the most likely use of quantum computing.
While the EY report warns about companies potentially losing out to rivals on the benefits of quantum computing, there are also dangers that organizations should be preparing for now, as Intel warned about during its Intel Vision conference last month.
One of these is that quantum computers could be used to break current cryptographic algorithms, meaning that the confidentiality of both personal and enterprise data could be at risk. This is not a far-off threat, but something that organizations need to consider right now, according to Sridhar Iyengar, VP of Intel Labs and Director of Security and Privacy Research.
"Adversaries could be harvesting encrypted data right now, so that they can decrypt it later when quantum computers are available. This could be sensitive data, such as your social security number or health records, which are required to be protected for a long period of time," Iyengar told us.
Organizations may want to address threats like this by taking steps such as evaluating post-quantum cryptography algorithms and increasing the key sizes for current crypto algorithms like AES.
Or they may simply decide to adopt a wait and see attitude. EY will no doubt be on hand to sell consultancy services to help clarify their thinking.
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Businesses brace for quantum computing disruption by end of decade - The Register
Quantum computing can solve EVs safety woes – Times of India
Recent incidents of electric vehicle (EV) catching fire has shocked the Indian ecosystem and hindered the broad adoption of these vehicles. Before March of this year, there has been a substantial rise in the demand for electric vehicles and rapid advances in innovation and technology. Improvements in the battery technology, through increased efficiency and range, have made the EVs more accessible to the mass public, as the sector is currently dominated by two-wheelers and three-wheelers in India. According to Mordor Intelligence, Indias electric vehicle market was valued at $1.4 trillion in 2021, and it is expected to reach $15.4 trillion by 2027, recording a CAGR of 47.09% over the forecast period (2022-2027). Since March, the challenge in EV has shifted from affordability, charging, and range anxiety to safety. Safety has been of prime importance and an EV catching fire has led to dire consequences and even fatal.
The question is, why is this happening?
A report by the Defence Research and Development Organisations (DRDO) Centre for Fire Explosive and Environment Safety points it to the EV batteries. The issues highlighted includes poor quality cells, lack of fuse, issues with thermal management, and battery management system (BMS).
The highlighted issues cause the batteries to experience Thermal Runaway problem, leading to the fires. This phenomenon occurs when an increase in temperature changes the conditions in a manner that causes further increase in temperature, often leading to a destructive result. The issue highlighted by the DRDO report are all potential causes of thermal runaway. Lets explain why.
Local atmospheric temperature directly affects the operating temperature of battery. For efficient performance, batterys operating temperature should be around 20-35 C. To keep the battery at this temperature, EVs need battery thermal management system (BTMS). Now, with rising temperatures in our cities, the BTMS are being challenged and possibly due to the poor thermal management system of EV batteries, thermal runaway is being caused.
Another cause for the thermal runaway, is possibly due to the rapid battery charging. With the evolution of battery technology, charging technology is also advancing. While the fast charging can greatly improve the convenience of EVs, it increases the risks related to batteries. Fast charging an EV can overheat the battery system, enough to melt the electrical wires and cause short circuits, leading to explosive consequences, as already seen by several charging-related incidents.
While hot weather conditions and inadequate thermal management systems of the battery can negatively impact performance and shorten life, they alone cannot cause thermal runaway. As mentioned by DRDO report, inefficient, or even absence of, fuse as a fail-safe mechanism is a missing component causing thermal runaway.
The causes of thermal runaway highlighted above could be due to either inefficient design or not enough testing by EV manufacturers. But the manufacturers cannot spend more time on increased testing due to time-to-market constraints.
Whats the solution?
As stated, design and testing phase are very important phases of any product manufacturing. Since the era of industry 4.0, all design and testing have moved digitally and carried out on large-scale powerful computers through what is called Engineering Simulations (referred to as Simulations hereafter). Simulations can be of various types some of which are thermal (studying the effect of heat and temperature on object), structural (studying effect of objects strength, stress, and failure), fluid (studying effect of flow in and around an object), and electrochemical (studying effect of chemistry on electricity). Thermal runaway is a complex engineering problem, entailing all the types of simulations mentioned above. With the right simulation tools, simulations allow to mimic every possible physical condition, rising temperature, fast charging, or fuse placement and find areas of problem. After identifying, it can also aid in testing different solutions and hence avoid thermal runaway all together.
The question then becomes why are we seeing the news at all?
Biggest issue EV manufactures have with performing numerous simulations is the duration of time. To run a series of simulations, it can take months to obtain results with minimal flaws and defects (high accuracy simulations). Manufacturers cannot afford this as it greatly hampers the time to market. Thus, companies opt for simulations that can provide solutions but with several minor flaws and defects (low accuracy simulations) to them, leading to large mishaps like EV explosions, system failures, and affecting human lives. In addition, if the companies do find some time to perform these simulations with minimum flaws and defects (high accuracy simulations), the cost that manufacturers incur is very high due to the need for supercomputers whether on-premises (setup and maintenance cost) or on cloud (due high duration time of the computing).
So the real issue is the computing technology bottleneck. This is where the next-generation computing technology of Quantum computers can step in and revolutionize the industries like EV and Battery Design. This new technology is much more powerful, enabling exponential abilities to these industries.
Prospect of Quantum-powered simulations
The power Quantum computers is showcased by its ability to perform the same simulations in much less time compared to classical supercomputers. Hence, this technology can significantly help EV manufacturers in their time to market.
Moreover, the ability to obtain high accuracy from simulations is vital in using them in the product development process. Since high accuracy simulations took lot of time before, making them prohibitive, quantum-powered simulations can now enable the manufacturers to perform accurate simulations at reasonable time, in hours instead of months. Added accuracy will not only help companies create more efficient designs and improve the reliability of their vehicles, but also help in saving something invaluable, i.e., Lives. In addition, the speedup from Quantum computations enables lower computing usages, decreasing the overall cost and making it affordable for EV manufacturers.
Whats next?
In the computing sphere, Quantum Computing is the revolutionizing system, changing our understanding of computations and shows tremendous potential as shown by various use cases. While the prospect of Quantum-powered simulations offers the advantage of Better, Faster, and Cheaper, the development is very challenging as the Quantum computers work in entirely different ways.
Good news is that companies are already developing & building Quantum-powered simulation software, which can solve problems of thermal runaway and optimization of BTMS. Quantum Computing is here and now!
Views expressed above are the author's own.
END OF ARTICLE
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Quantum computing can solve EVs safety woes - Times of India
JUPITER, the European Unions All-AMD post-exascale supercomputer, promises to access around a quintillion operations per second – Wccftech
The EuroHPC Joint Unit initiative in the European Union recently allowed for the deployment of LUMI, the continent's first pre-exascale system that will integrate next-gen technology from AMD. This initiative and involvement with AMD will allow for a quantum-ready system to be designed with carbon-negative manufacturing and enable the globe to move closer to post-exascale computing in the European Union.
Jlich's Supercomputing Centre in Germany will be the installation home for JUPITER, with over $522 million to be spent on installation, hardware, and infrastructure, with the European Union funding the costs. The expected completion and full operation timeframe will be in 2024 when the system begins to process over a trillion operations per second.
JUPITER will allow researchers to study climate modeling, engineering of materials, sustainable energy production, and biological simulations utilizing the latest in accelerated artificial intelligence. Due to the level of workloads, incredibly taxing computations, and memory alone, that is the reason the EU is investing a large number of finances towards the supercomputer.
The organizations involved have not officially stated the hardware used to be the backbone of the JUPITER supercomputer. In the press release for JUPITER, it is indicated that GPU-based accelerators will be significant to the processing power of the system. Using star-based architecture in the LUMI system, JUPITER will also house several supercomputing modules to process GPU visualization and use a universal CPU-based accelerator and high-powered GPU clusters. Also included in the system will be a quantum computing node and temperature-based storage clusters to maintain heat levels properly. It is also reported that JUPITER will utilize rare computational models that include a fully dedicated neuromorphic computing node.
JUPITER will have a power consumption level of 15 MW, 22% less than the top global supercomputer, Frontier, which averages 19 MW of consumption. Compared to Japan's Arm-based Fugaku, JUPITER reduces it to 50% less than the previous top supercomputer from 2020.
AMD will have the upper hand in rivaling Intel with this new endeavor. Intel only has contracts with five of ten supercomputing installations, with AMD having ten of twenty installations using the company's hardware for their supercomputers. However, Intel recently announced the Silicon Junction initiative, which will see $80 billion in the European Union's research, development, and manufacturing of next-gen semiconductors.
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JUPITER, the European Unions All-AMD post-exascale supercomputer, promises to access around a quintillion operations per second - Wccftech
Quantum Computing : Q1 reports initial revenue. We expect major acquisition of QPhoton to be positive for stock. Lowering P/T to $9. -…
Q1 initial revenue: Quantum recently (on May 23) reported its fiscal Q1 2022 (ending March) results. The company reported initial revenue of $0.03 million. EPS was $(0.24), compared to our estimate of $(0.16). There was no consensus estimates or company guidance.
Still very early stage: Quantum's recent financial performance is reflective of its developmental and early commercialization stage and has finally reported initial revenue. The company, having recently launched several of its initial products, is currently focusing on sales and marketing of its products. We believe investors should be focused on its commercialization of its software, which we believe within the next year, the company should grow revenue quickly.
Lowering estimates: We are lowering our 2022 estimates for revenue $1.0 million, from $1.5 million, and for EPS to$(0.73) from $(0.59). Our estimates do not reflect its pending acquisition.
To acquire QPhoton: In May, the company announced that it will be acquiring QPhoton, Inc. QPhoton is a privately held company that is a leading innovator in the quantum photonic technology space. Merger consideration will be paid in stock (~37 million shares). The deal is expected to close in 2H 2022.
Investment in QPhoton: In February, the company announced a marketing agreement with QPhoton, to merge QCI's quantum software solution, Qatalyst, with QPhoton's advanced photonic quantum technologies for its application to QCI-specific solutions. As part of this agreement, Quantum will invest $2.5 million in QPhoton.
Focused on quantum computing: Quantum's flagship software solution, Qatalyst, is a ready-to-run quantum and classical software for optimization computations for faster, better, and more diverse business decisions. By being early in this rapidly growing industry, we believe Quantum is well-positioned to capture and drive a meaningful market share and industry growth.
The need for quantum computing: The rapid and widespread adoption of technologies such as the Internet, artificial intelligence, virtual and augmented reality, 3D imaging, and the Internet of Things (IoT), have served to exponentially increase the generation of data. This has driven up the demand for high-performance computing to process all this data.
Large market potential: As quantum computing hardware continues to advance, we expect a corresponding growth in demand for quantum software to run on these computers. The U.S. Government has committed $1.3 billion to funding quantum information science programs.
Balance sheet: In Q4, the company raised $8.5 million selling preferred stock. We believe the company has enough cash into 2023.
Positive high risks versus rewards: Overall, concerns outweighed by growth prospects and valuation. We believe the ~billion dollars market potentials presents high rewards for the risks.
Valuation attractive: We are maintaining our BUY rating, but lowering our 12-month price target to $9.00 from $10, based on a NPV analysis, representing significant upside from the current share price. We believe this valuation appropriately balances out the company's high risks with the company's high growth prospects and large upside opportunities.
To learn more about QCI and how Qatalyst can deliver results for your business today, go to http://www.quantumcomputinginc.com.
About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (NASDAQ: QUBT) is accelerating the value of quantum computing for real-world business solutions. The company's flagship product, Qatalyst, is the first software to bridge the power of classical and quantum computing, hiding complexity and empowering SMEs to solve complex computational problems today. QCI's expert team in finance, computing, security, mathematics and physics has over a century of experience with complex technologies; from leading edge supercomputing, to massively parallel programming, to the security that protects nations. Connect with QCI on LinkedIn and @QciQuantum on Twitter. For more information about QCI, visit http://www.quantumcomputinginc.com.
About QPhoton
QPhoton is a quantum photonics innovation company. It develops and commercializes powerful quantum nanophotonic technology and systems to transform critical areas of industry, including healthcare, cybersecurity, finance, environment, and computer vision. QPhoton maintains a growing and diverse portfolio of patented nanophotonic and quantum technology, covering quantum sensing, imaging, information privacy, authentication, data analytics, and quantum photonic computing.
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing Inc. (the "Company"), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," "aim to," or variations of these or similar words, identify forward-looking statements. Such statements include statements regarding the Company's ability to consummate its planned acquisition of QPhoton, the anticipated benefits of such acquisition, and the Company's ability to successfully develop, market and sell its products. Factors that could cause actual results to differ materially from those in the forward-looking statements contained in this press release include, but are not limited to, the parties' potential inability to consummate the proposed transaction, including as a result of a failure to satisfy closing conditions to the proposed transactions; risks that QPhoton will not be integrated successfully; failure to realize anticipated benefits of the combined operations; potential litigation relating to the proposed transaction and disruptions from the proposed transaction that could harm the Company's or QPhoton's business; ability to retain key personnel; the potential impact of announcement or consummation of the proposed transaction on relationships with third parties, including customers, employees and competitors; conditions in the capital markets; and those risks described in Item 1A in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company's filings with the SEC. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
Qatalyst is the trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.
Company Contact:
Robert Liscouski, CEO
Quantum Computing, Inc.
+1 (703) 436-2161
Email Contact
Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
+1 (949) 432-7566
Email Contact
Media Relations Contact:
Seth Menacker
Fusion Public Relations
+1 (201) 638-7561
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Quantum Computing : Q1 reports initial revenue. We expect major acquisition of QPhoton to be positive for stock. Lowering P/T to $9. -...
Singapore sets the pace for quantum computing in Southeast Asia – Tech Wire Asia
As innovation in the quantum computing industry continues, Singapore has committed itself to being part of the journey as well. Last week, the Singaporean government announced its increasing investments in the industry by setting up two new initiatives to boost talent development and provide better access to the technology.
The National Quantum Computing Hub in Singapore will pool expertise and resources from the Centre for Quantum Technologies and other institutions. Heng Swee Keat, Singapores Deputy Prime Minister also unveiled the National Quantum Fabless Foundry, which is expected to develop the components and materials needed to build quantum computers and devices.
Quantum computing has already taken the world by storm in recent times, especially with more governments already announcing specific moves in the industry. While those involved in the development of quantum computing tend to see it more as a collective initiative to improve the technology, some governments see it as a means to be better than each other, giving them an upper edge.
Case in point, both China and the US continue to be competing with each other in the field. While there are many areas in quantum computing, both countries continue to find innovations in them as well. China claims to have the worlds fastest and most powerful quantum computer but the US is also claiming to have achieved these.
Singapore Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat talks during the opening of Asia Tech Summit in Singapore.(Photo by Roslan RAHMAN / AFP)
Last month, US President Joe Bidensigned a National Security Memorandum aimed at maintaining U.S. leadership in quantum information sciences and mitigating the risks of quantum computing to the Nations security. For the US, a quantum computer of sufficient size and sophistication also known as a cryptanalytically relevant quantum computer will be capable of breaking much of the public-key cryptography used on digital systems across the United States and the world.
Despite these concerns about the technology, scientists and engineers in the field are focused on bringing the best out of quantum computing. As such, the hub in Singapore, which will also host the countrys first quantum computer, will allow both government agencies and enterprises to access and test it out directly.
According to a report by Singapores Straits Times, both the hub and fabless foundry will be part of the National Research Foundations Quantum Engineering Programme (QEP). In February, Singapore also announced the National Quantum Safe-Network. The three initiatives will receive at least SG$23.5 million from the QEP for up to 3 years under Singapores Research, Innovation and Enterprise 2020 plan.
Dr Si-Hui Tan, Chief Science Officer at Horizon Quantum Computing
With all the hype and excitement in the industry, Tech Wire Asia caught up with Dr Si-Hui Tan, Chief Science Officer at Horizon Quantum Computing at the ATxSG summit to get her views on the industry, from the technology to the talent development in the field.
For Dr Tan, while Singapore and the rest of the world are getting hyped up about quantum computing and how it can change the planet, the reality is, that there is still a long way to go before any real-world use cases can be implemented.
While quantum computing is still a very nascent-state technology, the news in Singapore will see some acceleration in adoption in this area. When I say adoption, I still have to be very cautious on how we can use a quantum computer because we still do not have a real-world use case, with the existing limit of technology that we have, commented Dr Tan.
Dr Tan pointed out that nobody knows for sure how long the world is from seeing a real-world quantum computing use case. She added that while there is a report by some prominent physicists from across the world that tries to capture the belief about when the use of quantum computing will come about, she feels the real answer is no one knows for sure. For now, there are only some bits of the technology being used.
At the same time, the competition in quantum computing is not the main issue for her. Despite strategic interest from some nation-states, Dr Tan explained that since the technology is nascent, the resources of any one country or organization are not enough to get it going on its own agenda.
With that said, Dr Tan also highlighted the concerns about the cost of research and development for quantum computing, especially with some organizations feeling the technology can be costly to implement and maintain in the long run.
When you look at R&D, there will always be a cost. Once there is widespread adoption, commercialization will come in. For example, one of the applications of quantum computing is quantum communication. You can send information through fiber options at 1440 nanometres. If the current fiber optic network in the world uses that same wavelength, the network can use it for quantum computing with some tweaking. The cost is lowered as you are leveraging existing infra. This is one way of reducing costs and we will start to see similar trends in quantum computing, explained Dr Tan.
For enterprise use cases like high-performance computing (HPC), Dr Tan believes while the real-world application is not there yet, the technology could affect everything with HPC. Businesses that have not adopted the technology could find themselves losing out in the future.
Looking at the way things are moving, you may see more industry players come in to look at problems, to see how quantum computing can be used to solve them. This includes the possibility of having quantum computing as the new form of HPC, mentioned Dr Tan.
With Singapore looking to be a leader in this field, the next question that comes to everyone is whether the country has sufficient talent in the field. Interestingly, Dr Tan mentioned that while there is indeed a shortage globally in the field, the uptake of the course in universities and quantum computing research has been positive.
Its very encouraging. A lot of information is available on quantum computing today, especially in reaching out to youngsters. Researchers are producing and sharing content on YouTube for example. The availability of the information will see more interested in the industry, said Dr Tan.
The three national quantum platforms that were announced are also hosted across the National University of Singapore, Nanyang Technological University, Singapore, the Agency for Science, Technology and Research, and the National Supercomputing Centre (NSCC) Singapore. They will coordinate activities across research organizations and build public-private collaborations to put Singapore at the cutting edge in quantum technologies.
Aaron Raj
Aaron enjoys writing about enterprise technology in the region. He has attended and covered many local and international tech expos, events and forums, speaking to some of the biggest tech personalities in the industry. With over a decade of experience in the media, Aaron previously worked on politics, business, sports and entertainment news.
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Singapore sets the pace for quantum computing in Southeast Asia - Tech Wire Asia