Category Archives: Quantum Computing
University of Strathclyde Will Lead Two Quantum Programs with a Total Budget of 960000 ($1.3M USD) – Quantum Computing Report
University of Strathclyde Will Lead Two Quantum Programs with a Total Budget of 960,000 ($1.3M USD)
The first program is anInternational Network in Space Quantum Technologies which will include a consortium of 37 members in 13 countries, including four industrial partners, to develop satellite-enabled quantum-secure communication and Earth observation. It will tackle the technical challenges of putting quantum technology into space including the radiation environment in space, autonomous and remote operation and the limited size, weight and power constraints of satellites. This program will be funded by the UKsEngineering and Physical Sciences Research Council (EPSRC), part of UK Research and Innovation (UKRI) with a budget of 480,000. The second program is anInternational Network for Microfabrication of Atomic Quantum Sensors. This program will develop the next generation of miniaturized quantum sensors, with potential applications in healthcare, navigation, finance, communication and security. It is also funded by UKRI with a budget of 480,000. Additional information about these two quantum related awards is available in a news release on the University of Strathclyde website here.
February 14, 2022
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University of Strathclyde Will Lead Two Quantum Programs with a Total Budget of 960000 ($1.3M USD) - Quantum Computing Report
Sollensys Corp Quantum Computing Threat: The Best Offense is an Even Better Defense – Digital Journal
Sollensys Corp. has announced the completion of a preliminary validation test of a blockchain verification algorithm which is resistant to an attack by even the most sophisticated quantum computer
PALM BAY, FL / ACCESSWIRE / February 15, 2022 / Sollensys Corp (OTC PINK:SOLS), one of the first cybersecurity companys using blockchain, has announced the completion of a preliminary validation test of a blockchain verification algorithm which is resistant to an attack by even the most sophisticated quantum computer. The validation test, which utilized a form of lattice-based cryptography, was performed using a Sollensys Blockchain Archive ServerTM to secure a data cache of the size typically generated on a daily basis by a large banking corporation.
Read the Sollensys white paper, The Impending Threat of Quantum Computing on Blockchain Security, now.
Although quantum computing is not yet developed to a high technology readiness level, neither are the defenses against the algorithms that quantum computation promises. Recent advances in quantum computer hardware capabilities suggest a rapidly shifting landscape in which quantum computing poses a systemic threat to blockchain integrity and security viability.
Today the Sollensys double blockchain technology represents the industry-leading approach for data security. Period. However, the rapidly evolving capability posed by quantum computers, especially if exploited by nefarious actors, is an emerging and salient threat for tomorrow, said Don Beavers, CEO of Sollensys Corp. In order to proactively thwart such vulnerabilities, Sollensys is developing a portfolio of algorithms which are verifiably resistant to an attack by a quantum computer. These new capabilities will seamlessly integrate into our double blockchain protocols as an option for our clients who continue to require the highest levels of ongoing data security. Further, the development of cryptographic algorithms which are quantum resistant has been determined to be a national priority and Sollensys intends to be a leader in this space.
The new suite of quantum resistant cryptographic algorithms will be offered as an option on other Sollensys data security products.
ABOUT SOLLENSYS CORP
Sollensys Corp is a math, science, technology, and engineering solutions company offering products that ensure its clients data integrity through collection, storage, and transmission. Our innovative flagship product is the Blockchain Archive Server, a turnkey, off-the-shelf, blockchain solution that works with virtually any hardware and software combinations currently used in commerce, without the need to replace or eliminate any part of the clients data security that is being utilized. The Company recently introduced its second product offering-the Regional Service Center-which offers small businesses the same state of the art technology previously available only to large or very well-funded companies.
The Blockchain Archive Server encrypts, fragments and distributes data across thousands of secure nodes every day, which makes it virtually impossible for hackers to compromise. Using blockchain technology, the Blockchain Archive Server maintains a redundant, secure and immutable backup of data. Redundant backups and the blockchain work together to assure not only the physical security of the database but also the integrity of the information held within.
The Blockchain Archive Server protects client data from ransomware-malicious software that infects your computer and displays messages demanding a fee to be paid for your system to work again. Blockchain technology is a leading-edge tool for data security, providing an added layer of security against data loss due to all types of software specifically designed to disrupt, damage, or gain unauthorized access to a computer system (i.e., malware).
Uniquely, the Blockchain Archive Server is a turn-key solution that can stand alone or seamlessly integrate into an existing data infrastructure to quickly recover from a cyber-attack. The Blockchain Archive Server is a server that comes pre-loaded with the blockchain-powered cybersecurity software, which can be delivered, installed and integrated into a clients computer systems with ease.
For more information please visit: https://www.sollensys.com.
Forward-Looking Statements: Certain information in this press release contains forward-looking statements. All statements other than statements of historical facts included herein are forward-looking statements. In some cases, forward-looking statements can be identified by words such as believe, expect, anticipate, plan, potential, continue or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in the Companys filings with the Securities and Exchange Commission (the SEC). You should carefully consider these factors, risks and uncertainties described in, and other information contained in, the reports we file with or furnish to the SEC before making any investment decision with respect to our securities. Readers should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Companys control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Companys current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company is under no obligation (and expressly disclaim any such obligation) to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Investor Relations:
Sollensys Corp866.438.7657www.sollensys.com[emailprotected]https://business.facebook.com/Sollensys/https://www.linkedin.com/company/sollensys-corp/
SOURCE: Sollensys Corp
View source version on accesswire.com: https://www.accesswire.com/688818/Sollensys-Corp-Quantum-Computing-Threat-The-Best-Offense-is-an-Even-Better-Defense
Quantum and the art of noise – ComputerWeekly.com
Noise, huh, whats it good for? Absolutely nothin. Apart from the geniuses trying to further the advancement of noisy intermediate quantum computing (Nisq), noise means errors. Lowering the error rate in this emerging area of computing requires significantly more physical qubits for every useful logical qubit.
Computer Weekly recently spoke to a number of experts in the field of quantum computing and a picture is emerging of quantum computing, which illustrates the efforts going into making something practical, out of a technology that few truly understand. It promises so much. Imagine being able to solve problems in a way that is simply impossible with existing high performance computing. By being able to simulate chemistry at the quantum level, a quantum computer opens up huge opportunities in material science and a way to control chemical reactions in industrial processes to achieve outcomes such as reducing harmful emissions and waste or improving yield.
One of the new companies trying to make the most of existing tech is Algorithmiq. Its co-founder and CEO Sabrina Maniscalco, believes that full tolerance in quantum computing will require technical advances in manufacturing and may even require fundamental principles to be discovered because, as she says: The science doesnt exist yet. Her company has just received funding to help it develop algorithms for the pharmaceutical sector that can cope with todays noisy quantum computers.
Many of the labs running quantum computing systems, need to operate at close to absolute zero (-273 degrees celsius) to form superconducting qubits. But this level of cooling is not particularly scalable, so one of the on-going areas of research is how to achieve quantum computing at room temperature. This is the realm of the trapped ion quantum computer, and requires an entirely different approach. Winfried Hensinger, chief scientist at Universal Quantum, a spin out from Sussex University, believes that trapped ion quantum computers are more resilient to noise. He says: The ion is naturally much better isolated from the environment as it just levitates above a chip.
Another startup, Quantum Motion, spun out of UCL, is looking at how to industrialise quantum computing by being able to measure the quantum state of a single electron in a silicon transistor. Significantly, this transistor can be manufactured using the same chip fabrication techniques that are used in the manufacture of microprocessors.
These three examples represent a snapshot of the level of ingenuity that is being poured into quantum computer research. A universal quantum computer may be years off, but something usable and scalable is almost within earshot.
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Quantum and the art of noise - ComputerWeekly.com
Mark Zuckerbergs metaverse will require computing tech no one knows how to build – Protocol
Hello, and welcome to Protocol Enterprise! Today: Building Mark Zuckerbergs metaverse will require every chip to be an order of magnitude faster, Intel is in talks to buy Tower Semi, and the latest funding deals in enterprise tech.
Unicorns arent so rare in cybersecurity anymore. Thirty cybersecurity companies achieved valuations of more than $1 billion last year, up from just six in 2020, according to a new report from Momentum Cyber. And investors invested $29.3 billion in venture funding in 2021, up from $12.4 billion the year before.
A disconnect has formed between the way corporate America is talking about the dawning concept of the metaverse and its plausibility based on the nature of the computing power that will be necessary to achieve it. To get there will require immense innovation, similar to the multidecade effort to shrink personal computers to the size of an iPhone. No one knows how or where to start, let alone whether the devices will still be semiconductors.
The metaverse may forever remain science fiction.
The metaverse will likely only become a reality with a generational leap in computing. Yet nobody can describe the system requirements specifically, because it will be a sharp departure from prior shifts in computing.
Quantum computing is probably not the solution but it could be. The tech is largely theoretical today, and decades from practical applications.
Chip manufacturing technology will also need to leap forward. Companies such as TSMC and Intel are already pushing the boundaries of physics with extreme ultraviolet lithography machines to print the most advanced chips.
Max A. Cherney (email | twitter)
Intel is in talks to acquire the Israeli chip manufacturing business Tower Semiconductor for nearly $6 billion, The Wall Street Journal reported late Monday.
If the deal closes, it would boost Intels manufacturing capacity for older, less advanced chips. Intel has historically focused on the most advanced processors, or leading edge chips, and sold off older equipment to other companies. The Journal said the acquisition could be made public as early as this week.
But last year, under newly appointed CEO Pat Gelsinger, Intel said that it was creating a contract manufacturing unit to make chips designed by other companies, such as Qualcomm. Adding Tower Semis group of factories to Intels existing infrastructure would likely expand the companys range of manufacturing offerings to include some of the less advanced chips used in autos, defense, and medical devices.
Dataiku is the only AI platform that connects data and doers, enabling anyone to transform data into real business results from the mundane to the moonshot. Because AI can do so much, but there's no soul in the machine, only in front of it. Without you, it's just data.
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Branch was valued at $4 billion after raising $300 million for its enterprise marketing tech platform.
Starburst was valued at $3.35 billion after a $250 million funding round for its analytics engine.
Salt Security reached a valuation of $1.4 billion after raising $140 million for its API protection platform.
Xpressbees hit a valuation of $1.2 billion after raising $300 million for its logistics platform.
The World Economic Forum is hosting a Web3 briefing on digital privacy moderated by our very own Kate Kaye. Register and tune in Tuesday at 10 a.m. ET.
Dinobabies at IBM: Documents in an age-discrimination lawsuit show high-level discussions at the company to phase out older employees, according to The New York Times.
Taiwan-based Foxconn has formed a joint venture with Vedanta to make chips in India amid the global shortage, Reuters reported.
Dataiku is the only AI platform that connects data and doers, enabling anyone to transform data into real business results from the mundane to the moonshot. Because AI can do so much, but there's no soul in the machine, only in front of it. Without you, it's just data.
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Mark Zuckerbergs metaverse will require computing tech no one knows how to build - Protocol
Duke University and IonQ Develop New Quantum Computing Gate – HPCwire
DURHAM, N.C. & COLLEGE PARK, Md., Feb. 10, 2022 Today, the Duke Quantum Center (DQC) at Duke University and IonQ announced the invention of a new quantum computing operation with the potential to accelerate several key quantum computing techniques and contribute to scaling quantum algorithms. The new quantum gate is a novel way to operate on many connected qubits at once and leverages the multi-qubit communication bus available only on IonQ and DQC quantum computers. Full details of the gate technique can be found on the preprint archive arXiv at arXiv:2202.04230.
The new gate family includes the N-qubit Toffoli gate, which flips a select qubit if and only if all the other qubits are in a particular state. Unlike standard two-qubit quantum computing gates, the N-qubit Toffoli gate acts on many qubits at once, leading to more efficient operations. The gate appears naturally in many common quantum algorithms.
IonQ and Dukes discovery may lead to significant efficiency gains in solving fundamental quantum algorithms, such as Grovers search algorithm, variational quantum eigensolvers (VQEs), and arithmetic operations like addition and multiplication. These use cases are ubiquitous across quantum computing applications, and are core to IonQs work in quantum chemistry, quantum finance, and quantum machine learning. They are also key components of commonly accepted industry benchmarks for quantum computers, which have alreadyshown IonQs computers to be industry leaders.
This discovery is an example of us continuing to build on the leading technical architecture weve established. It adds to the unique and powerful capabilities we are developing for quantum computing applications, said Peter Chapman, CEO at IonQ.
This research, conducted at Duke by Dr. Or Katz, Prof. Marko Cetina, and IonQ co-Founder and Chief Scientist Prof. Christopher Monroe, will be integrated into IonQs quantum computing operating system for the general public to use. Monroe notes that, no other available quantum computing architecturesnot even other ion-based quantum computersare able to utilize this new family of N-qubit gates. This is because IonQs quantum computers uniquely feature full connectivity and a wide communication bus that allows all qubits to talk to each other simultaneously.
This discovery follows a series of announcements around IonQs research efforts and preparations for scale. In December, IonQ announced that itplans to use barium ions as qubitsin its systems, bringing about a wave of advantages it believes will enable advanced quantum computing architectures. Last year, the team also debuted the industrys firstReconfigurable Multicore Quantum Architecture and Evaporated Glass Trap technology, both of which are expected to contribute to scaling the number of qubits in IonQs quantum computers.
About IonQ
IonQ, Inc. is a leader in quantum computing, with a proven track record of innovation and deployment. IonQs next-generation quantum computer is the worlds most powerful trapped-ion quantum computer, and IonQ has defined what it believes is the best path forward to scale.
IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as through direct API access. IonQ was founded in 2015 by Christopher Monroe and Jungsang Kim based on 25 years of pioneering research. To learn more, visitwww.ionq.com.
Source: IonQ
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Duke University and IonQ Develop New Quantum Computing Gate - HPCwire
Quantum computing venture backed by Jeff Bezos will leap into public trading with $1.2B valuation – GeekWire
A team member at D-Wave Systems, based in Burnaby, B.C.,, works on the dilution refrigerator system that cools the processors in the companys quantum computer. (D-Wave Systems Photo / Larry Goldstein)
Burnaby, B.C.-based D-Wave Systems, the quantum computing company that counts Jeff Bezos among its investors and NASA among its customers, has struck a deal to go public with a $1.2 billion valuation.
The deal involves a combination with DPMC Capital, a publicly traded special-purpose acquisition company, or SPAC. Its expected to bring in $300 million in gross proceeds from DPMCs trust account, plus $40 million in gross proceeds from investors participating in a PIPE arrangement. (PIPE stands for private investment in public equity.)
Quantum computing takes advantage of phenomena at the quantum level, processing qubits that can represent multiple values simultaneously as opposed to the one-or-zero paradigm of classical computing. The approach is theoretically capable of solving some types of problems much faster than classical computers.
Founded in 1999, D-Wave has focused on a type of technology called quantum annealing, which uses quantum computing principles and hardware to tackle tasks relating to network optimization and probabilistic sampling.
Physicists have debated whether D-Waves Advantage system should be considered an honest-to-goodness quantum computer, but the company says that question has been settled by research that, among other things, turned up signatures of quantum entanglement. D-Wave is included among the quantum resources offered by Amazon and Microsoft, and it also has its own cloud-based platform, known as Leap.
The SPAC deal has already been cleared by the boards of directors for D-Wave and DPCM Capital. If the transaction proceeds as expected, with approval by DPCMs stockholders, it should close by midyear. The result would be a combined company called D-Wave Quantum Inc. that would remain headquartered in Burnaby a suburb of Vancouver, B.C. and trade on the New York Stock Exchange under the QBTS stock symbol.
Today marks an inflection point signaling that quantum computing has moved beyond just theory and government-funded research to deliver commercial quantum solutions for business, D-Wave CEO Alan Baratz said in a news release.
Among the investors involved in the PIPE transaction are PSP Investments, NEC Corp., Goldman Sachs, Yorkville Advisors and Aegis Group Partners. Other longtime D-Wave investors include Bezos Expeditions as well as In-Q-Tel, a venture capital fund backed by the CIA and other intelligence agencies.
In what was described as an innovative move, the SPAC deal sets aside a bonus pool of 5 million shares for DPCMs non-redeeming public stockholders.
D-Wave says it will use the fresh funding to accelerate its delivery of in-production quantum applications for its customers, and to build on a foundation of more than 200 U.S. patents. The company is aiming to widen its offerings beyond quantum annealing by developing more versatile gate-model quantum computers.
Emil Michael, DPMC Capitals CEO, said the total addressable market for quantum computing services could amount to more than $1 billion in the near term, and rise to $150 billion as applications mature.
While quantum computing is complex, its value and benefits are quite simple: finding solutions to problems that couldnt be previously solved, or solving problems faster with more optimal results, Michael said. D-Wave is at the forefront of developing this market, already delivering the significant benefits of quantum computing to major companies across the globe.
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Quantum computing venture backed by Jeff Bezos will leap into public trading with $1.2B valuation - GeekWire
Global $1.6 Billion Quantum Computing Technologies and Markets to 2026 – PRNewswire
DUBLIN, Feb. 10, 2022 /PRNewswire/ -- The "Quantum Computing: Technologies and Global Markets to 2026" report has been added to ResearchAndMarkets.com's offering.
The global quantum computing technologies market should reach $1.6 billion by 2026 from $390.7 million in 2021 at a compound annual growth rate (CAGR) of 33.2% for the forecast period of 2021 to 2026.
Report Scope
This report provides an overview of the global market for quantum computing and analyzes market trends. Using 2020 as the base year, the report provides estimated market data for the forecast period 2021 through 2026. Revenue forecasts for this period are segmented based on offering, deployment, technology, application, end-user industry and region.
Quantum computing is the gateway to the future. It can revolutionize computation by making certain types of classically stubborn problems solvable. Currently, no quantum computer is mature enough to perform calculations that traditional computers cannot, but great progress has been made in the last few years. Several large and small start-ups are using non-error-corrected quantum computers made up of dozens of qubits, some of which are even publicly accessible via the cloud. Quantum computing helps scientists accelerate their discoveries in related areas, such as machine learning and artificial intelligence.
Early adoption of quantum computers in the banking and financial industries, increased investment in quantum computing technology, and the rise of numerous strategic partnerships and collaborations are the main drivers behind the market growth.
The trend towards strategic approaches such as partnerships and collaborations is expected to continue. As quantum computer vendors move to quantum development, the consumer industries will seek to adopt current and new quantum technologies to gain a competitive advantage. The technological hurdles in the implementation of the quantum systems, as well as the lack of quantum skills, can limit the market growth. However, increasing adoption of quantum technology in healthcare, increasing demand for computing power, and the introduction of cloud-based quantum computing services are expected to open up new market opportunities during the forecast period.
Between 2021 and 2026, many companies with optimization problems may adopt a hybrid approach where some of the problems are handled by classical computing and the rest by quantum computers. The demand for quantum computers is expected to grow from multiple end-user industries, from finance to pharmaceuticals, automobiles to aerospace. Many industries, such as banks, are now using cloud-based quantum services.
There is no doubt that quantum computers will be expensive machines to develop and will be operated by a small number of key players. Companies like Google and IBM plan to double the performance of quantum computers each year. In addition, a small but important cohort of promising start-ups is steadily increasing the number of qubits a computer can process. This creates an immersive opportunity for the global quantum computing market growth in the coming years.
This report has divided the global quantum computing market based on offering, technology, deployment, application, end-user industry, and region. Based on offering, the market is segmented into systems and services. The services memory segment held the largest market share, and it is expected to register the highest CAGR during the forecast period. The services segment includes quantum computing as a service (QCaaS) and consulting services.
The report also focuses on the major trends and challenges that affect the market and the competitive landscape. It explains the current market trends and provides detailed profiles of the major players and the strategies they adopt to enhance their market presence. The report estimates the size of the global quantum computing market in 2020 and provides projections of the expected market size through 2026.
Competitive Landscape
Company profiles of the key industry players include
Patent Analysis
For more information about this report visit https://www.researchandmarkets.com/r/o1td8j
Media Contact:
Research and Markets Laura Wood, Senior Manager [emailprotected]
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Global $1.6 Billion Quantum Computing Technologies and Markets to 2026 - PRNewswire
Postdoctoral Research Associate in Quantum Algorithms for Fluid Simulations job with DURHAM UNIVERSITY | 281136 – Times Higher Education (THE)
Department of Physics
Grade 7: - 34,304 - 36,382Fixed Term - Full TimeContract Duration: 24 monthContracted Hours per Week: 35Closing Date: 11-Mar-2022, 7:59:00 AM
The Department
The Department of Physics at Durham University is one of the leading UK Physics departments with an outstanding reputation for excellence in teaching, research and employability of our students.
The Department is committed to advancing equality and we aim to ensure that our culture is inclusive, and that our systems support flexible and family-friendly working, as recognized by our Juno Champion and Athena SWAN Silver awards. We recognise and value the benefits of diversity throughout our staff and students.
The Role
Applications are invited for a postdoctoral position to develop quantum algorithms for fluid simulations, to work as part of the EPSRC funded ExCALIBUR project on Quantum Enhanced and Verified Exascale Computing (QEVEC). The QEVEC project addresses the potential of quantum computing as a disruptor in exascale computing. Even at an early stage of development, if quantum computing can be deployed as a co-processor to tackle bottlenecks in existing and future exascale codes, it has the potential to provide a huge boost to the overall computational power.
There will be four PDRAS in the QEVEC team, each with different expertise, working to-gether to develop quantum computing for the main ExCALIBUR use cases (fluids simulations and materials simulations), and methods to validate the hybrid quantum-classical algorithms. This post specifically considers the important application area of quantum algorithms in com-putational fluid dynamics. The candidate will evaluate new and existing quantum algorithms for their suitability as quantum subroutines for exascale codes, including for lattice Boltz-mann, smooth particle hydrodynamics, and other computational fluid dynamics (CFD) meth-ods.
We are seeking an enthusiastic computational researcher in fluid dynamics who is interested in developing quantum computing skills, or a quantum computing researcher who is keen to investigate potential applications in fluid dynamics simulations. You need to be a good team worker and communicator to work closely with computational scientists across discipline boundaries.
The post is based in Durham, but the candidate is expected to collaborate closely with other members of the QEVEC team based in Strathclyde, UCL, Warwick and London Southbank. Where appropriate, the candidate will also engage with other ExCALIBUR projects, Collaborative Computational Projects (CCPs) and High End Consortiums (HECs), the National Quantum Computing Centre and the Quantum Computing and Simulation Hub.
The post is for 24 months, to commence in June 2022 or as soon as possible thereafter. We also welcome part time applications to this role.
Informal enquiries are welcome and should please be directed to Prof Halim Kusumaatmaja (halim.kusumaatmaja@durham.ac.uk) and/or Dr Alastair Basden (a.g.basden@durham.ac.uk). Further details on the QEVEC project can be found in the EXCALIBUR website (https://excalibur.ac.uk/projects/qevec/).
Responsibilities:
These posts are fixed term for 24 months.
The post-holder is employed to work on research/a research project which will be led by another colleague. Whilst this means that the post-holder will not be carrying out independent research in his/her own right, the expectation is that they will contribute to the advancement of the project, through the development of their own research ideas/adaptation and development of research protocols.
Successful applicants will ideally be in post by 1st June 2022.
The Requirements
Essential:
Desirable:
How to Apply
For informal enquiries please contact Prof Halim Kusumaatmaja at halim.kusumaatmaja@durham.ac.uk and/or Dr Alaistair Basden at a.g.basden@durham.ac.uk. All enquiries will be treated in the strictest confidence.
We prefer to receive applications online via the Durham University Vacancies Site. https://www.dur.ac.uk/jobs/. As part of the application process, you should provide details of 3 (preferably academic/research) referees and the details of your current line manager so that we may seek an employment reference.
Applications are particularly welcome from women and black and minority ethnic candidates, who are under-represented in academic posts in the University.
What to Submit
All applicants are asked to submit:
A CV and covering letter which details your experience, strengths and potential in the requirements set out above;, and clearly describes where you meet the essential and desirable criteria (for example, as a bullet
DBS Requirement:Not Applicable.
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Postdoctoral Research Associate in Quantum Algorithms for Fluid Simulations job with DURHAM UNIVERSITY | 281136 - Times Higher Education (THE)
Why It’s Time to Think Differently About Honeywell – Motley Fool
As the headline says, it is time to start thinking differently about Honeywell International (NYSE:HON). The company is known as being one of the last great diversified industrial giants, and that definition still applies. However, what many investors might be missing is that Honeywell is an aggressive investor in cutting-edge technologies, and those businesses are going to significantly add to the value of the company in a few years.
Pause for a second and consider investing in a small company backed by substantive investors that's on track to grow its quantum computing-based revenue from $20 million in 2022 to around $2 billion in 2026.
Image source: Getty Images.
At the same time, the small company has a sustainable technology company (green fuels, feedstocks for recycled plastics, etc.) set to generate $700 million in revenue by 2025. Moreover, this is not any old start-up company with wide-eyed dreams; it's backed by a tried and tested management team with deep pockets.
Such a company would be valued at multiples equivalent to several times its sales. That's the sort of value that investors should start to price into Honeywell stock. The reason is that CEO Darius Adamczyk told investors to expect those revenue figures for two of Honeywell's highest-growth businesses in the coming years.
Of course, transitioning to this kind of thinking won't come easily, and the investments necessary to get there will hold back earnings and free cash flow (FCF) in the near term. However, that's the flip side of the coin, and investors thinking about Honeywell as a diversified industrial might stress over the lost earnings and cash flow.
To put some figures on the matter, management noted that its full-year 2022 earnings before interest, tax, depreciation and amortization (EBITDA) would be negatively affected by $150 million due to investment in its quantum computing business, Quantinuum. Moreover, capital investments made to support growth in Quantinuum will eat into FCF to the tune of $200 million to $300 million in 2022.
Image source: Getty Images.
To put that figure into context, Honeywell is currently valued at $132 billion, a figure equivalent to 23.2 times its trailing FCF. If investors price out the stock based on FCF, then the "lost" $300 million could cost the market cap around 23.2 multiplied by $300 million -- $6.95 billion in market cap.
If you are taking a glass-half-full approach and getting optimistic about the growth investments, then the news about the investments is a good thing. After all, investors put money in stocks because they feel confident that management can generate better returns on the money than they (investors) can.
On the other hand, the glass-half-empty approach laments that Honeywell's earnings and cash flow are being held back and downgrades the stock accordingly. This approach shaves off some of the market cap as outlined above.
Unfortunately, the bull and bear debate over the stock won't stop here. Not least because Honeywell, in line with many other industrial peers, is expecting a formula of first half affected by supply chain pressures and cost increases, followed by a better second half in 2022.
As such, investors looking at the stock as a diversified industrial will have to tolerate a mix of earnings and margin headwinds from the increased investments and the uncertainty from waiting until the second half for an acceleration in growth at Honeywell.
Image source: Getty Images.
Moreover, management prepared investors for a challenging first quarter, with organic growth forecast to be in the range of a 2% decline to an increase of 1%. Meanwhile, adjusted EPS is forecast to be in the range of $1.80 to $1.90, implying a decline of 6% to a decline of 1%.
In addition, CFO Greg Lewis told investors that "with the supply chain impacts that we have been facing, those will continue to drive higher inventory levels, dampening our cash generation in the short term."
It all adds up to a first quarter that's likely to look a little weak on a headline basis.
If you are looking at the stock purely as a diversified industrial, then the answer is probably "no." Despite the fall in the share price, Honeywell is still a highly rated stock, and the slightly disappointing 2022 guidance means the stock isn't quite at a level enticing enough for investors not taking the long view.
However, for investors looking for a back-door way to play quantum computing and sustainable technology trends, Honeywell may well represent a great way to do so without considering the nosebleed valuations and blue sky assumptions that usually come with such investments.
Whichever way you look at it, Honeywell's growth investments are changing the investment proposition over the stock.
This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium advisory service. Were motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
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Why It's Time to Think Differently About Honeywell - Motley Fool
Quantum Computing Market; Augmented IT Industry Revenue to – GlobeNewswire
Pune, India, Jan. 26, 2022 (GLOBE NEWSWIRE) -- The global Quantum Computing Market size is projected to bolster on account of the growing demand for faster data operations, secure data transfer, and communications would be likely to drive the quantum computing market during the forecast period, states Fortune Business Insights, in its report, titled, Quantum Computing Market, 2021-2028.
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As per our researchers, quantum computing is the utilization of quantum physics characteristics such as superposition theorem to execute computation and preserve the data. Quantum computing can be incorporated with machine learning (ML) to advance its usage.
List of Key Players Covered in the Quantum Computing Market Report
COVID-19 Impact: Booming IT Industry Set to Enhance Product Demand
The spread of the COVID-19 pandemic has radically disturbed every fragment of human routine especially comprising of the Indian IT segment. It has generated an unparalleled assessment on the IT sector. In various IT companies around the globe, workplaces are shut, and instead, work from the home system is observed to be employed. Moreover, globalization has decelerated substantially.
Over the past couple of years, the IT industry has in India has been a dominating sector and contributor towards economic growth. It plays an authoritative role in satisfying several middle-class visions of the company as well as achievement and ambitious professions. Nevertheless, according to industry experts, owing to the COVID-19 outbreak, companies in the IT services in India are estimated to witness a considerable strike in growth during the financial year of 2020-2021.
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Report Coverage
The report delivers a detailed study of the market fragments and a comprehensive analysis of the market overview. A thoughtful assessment of the contemporary market trends as well as the impending opportunities are offered in the report. It further reveals an extensive analysis of the regional dynamics and how they shape the market growth. The COVID-19 impacts have been mentioned in the report in order to assist stakeholders and business professionals comprehend the risks better. The report emphasizes the chief players and their key strategies to stay in the dominating position.
Segmentation
Based on Component, the global quantum computing market is segregated into Hardware and Software Services.
On the basis of Application, the market is categorized into Optimization, Machine Learning, and Material Simulation.
By End-Use, the global market is bifurcated into Space and Defense, Automotive, Healthcare, Banking and Finance, Chemicals, and Energy & Power.
In terms of Geography, the market is categorized into North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
Drivers and Restraints
Market Growth Set to Bolster Backed by Government Support
The support given by the government for the execution of quantum computing technology and its development is a prominent factor in the market. Abundant public businesses and private firms recognize the importance of a well synchronized finance approach that affirmatively affects market growth. For example, according to the National Quantum Initiative law, which was made legal in December 2018, the United States House of Representatives has encompassed USD 1.2 billion capital for the National Quantum Initiative Program. The funding is intended to enable quantum information science and technology applications for more than ten years by fixating its objectives and significance.
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Businesses involving banking, defence, space, public sectors, healthcare among others are estimated to make a significant contribution to the general quantum computing market. The growing necessity for protected data transfer and interactions, with the demand for quicker data tasks, is projected to augment the demand for quantum computing consulting solutions.
Regional Insights
North America is estimated to steer the market growth considerably owing to its remarkable investment collection in personal as well as public R&D activities. For example, the National Aeronautics and Space Administration (NASA), Los Alamos National Laboratory, and National Security Agency (NSA) are assured of quantum computing technology improvement.
Numerous communal, as well as private establishments across Europe, are participating actively for the development of quantum computing technology. The leading European countries including the United Kingdom, Russia, and Germany, and their substantial investments would probably drive the quantum computing market growth across Europe.
Asia Pacific is projected to grow exponentially during the forecast period. Large-scale expansions in computing, demonstrated by emerging Asian nations such as India, Japan, and South Korea, are estimated to thrust the market growth in the upcoming period.
Competitive Landscape
The global quantum computing market is displaying concentrated competition. Noteworthy market players emphasize on evolving presented technological developments and linked products that suffice most of the industry requirements. Most of the key retailers are committing their struggles towards research and development activities (R&D) to present an included product variety. The noticeable vendors in the global market concentrate on novel product unveilings and augmentations of their prevailing portfolio to elevate their market position.
Industry Development
November 2018:Rigetti & Co, Inc. introduction of a toolkit known as pyQuil 1.9 which is valid for forming and running quantum computing programs.
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Quantum Computing Market; Augmented IT Industry Revenue to - GlobeNewswire