Quantum News Briefs, April 29, 2024: News from Rigetti Computing • China’s “Xiaohong” quantum computer • UK groups looking at genetic diversity • cryptography market projections • and quantum stocks
Quantum News Briefs: April 29, 2024: press release summaries below
Rigetti Computing Launches the Novera QPU Partner Program
Rigetti Computing, Inc. has recently launched the Novera QPU Partner Program, establishing an ecosystem of hardware, software, and service providers focused on quantum computing. This initiative allows customers to seamlessly integrate Novera QPU with technologies from partnered leaders in the field, ensuring compatibility and quality. Key founding members include Bluefors, Quantum Machines, Zurich Instruments, Q-CTRL, Strangeworks, Classiq, Horizon Quantum Computing, TreQ, ParTec AG, and Riverlane. The Novera QPU, crafted at Rigetti’s dedicated quantum device manufacturing facility, Fab-1, is a 9-qubit processor based on their Ankaa-class architecture. This launch complements Rigetti’s recent strides in quantum computing, including their Ankaa-2 system, which has shown significant improvements in gate fidelity and expanded quantum computing capabilities to government and academic sectors.
China launches 504-qubit quantum chip open to global users
Under the Chinese Academy of Sciences, the Center for Excellence in Quantum Information and Quantum Physics has made a significant advancement by delivering a 504-qubit superconducting quantum computing chip named “Xiaohong” to QuantumCTek Co., Ltd. This chip sets a new record for the number of qubits on a superconducting quantum chip in China. Developed to test QuantumCTek’s independently created kilo-qubit measurement and control system—a pivotal component in quantum computers—the chip aims to match international standards like those of IBM in terms of qubit lifespan, gate fidelity, and circuit depth. This development is part of China’s broader efforts to lead in quantum computing, which includes achievements such as the “Jiuzhang 2.0” and “Zuchongzhi 2.1” systems. China Telecom Quantum Group also plans to collaborate with QuantumCTek to utilize “Xiaohong” in a new quantum computing cloud platform, enhancing global access to advanced quantum computing resources.
In Other News: SingularityHub article: “How Quantum Computers Could Illuminate the Full Range of Human Genetic Diversity”
The integration of genomics and quantum computing is taking a significant leap forward with a pioneering project led by the University of Cambridge, the Wellcome Sanger Institute, and the European Molecular Biology Laboratory’s European Bioinformatics Institute highlights a recent SingularityHub article. This initiative aims to harness the capabilities of quantum computers to manage and analyze pangenomes—extensive collections of genetic sequences from various individuals that represent a wide array of human genetic diversity. The project seeks to overcome the challenges posed by the vast complexity and size of pangenomes, which traditional computing struggles to handle. By developing quantum algorithms specifically for pangenomic data, the researchers hope to dramatically enhance the accuracy and efficiency of genomic analyses, potentially revolutionizing fields such as personalized medicine and epidemiology. The initiative is still in its early stages, likened to the preparatory phases of the moon landings, focusing on foundational tasks such as creating suitable quantum representations for pangenomes. With a substantial funding of $3.5 million, the project represents a bold attempt to merge two cutting-edge scientific frontiers.
Visiongain Reports Ltd Show Quantum Cryptography market is projected to grow at a CAGR of 29.3% by 2034
Visiongain’s new report on the quantum cryptography market forecasts significant growth, projecting a compound annual growth rate (CAGR) of 29.3% from 2024 to 2034, starting from a market valuation of US$190.4 million in 2023. The surge in market interest is largely due to the increased recognition of the threats posed by quantum computing to traditional cryptographic methods, driving demand for quantum-resistant solutions. Quantum cryptography, known for its robust resistance to quantum attacks, is increasingly sought after for network security, data center security, and more across various industries, including government, defense, and healthcare. The report also notes the dual impact of the COVID-19 pandemic. While accelerating digital transformation and raising cybersecurity awareness, it has also strained the market with supply chain issues and economic uncertainties. Nonetheless, the ongoing prioritization of cybersecurity resilience is expected to sustain demand for quantum cryptography solutions, making it a pivotal area for future security technologies.
In Other News: Investor Place article: “3 Quantum Computing Stocks That Could Be Multibaggers in the Making: April Edition”
According to a recent Investor Place article, the quantum computing market is witnessing significant investor interest, highlighted by the promising outlook of stocks like Quantum Computing (QUBT), D-Wave Quantum (QBTS), and Rigetti Computing (RGTI). Each of these companies showcases unique strengths in the burgeoning field. Despite recent market fluctuations, QUBT, noted for its low-cost nanophotonics-based products and quantum optimization platforms, is positioned as a leader. D-Wave reported robust revenue growth and is enhancing its quantum capabilities with a prototype that supports over 1,200 qubits aimed at applications such as machine learning. Meanwhile, Rigetti’s recent achievements with its 84-qubit Ankaa-2 quantum computer demonstrate substantial improvements in operation accuracy, positioning it strongly in the market. These companies are set to potentially offer triple-digit growth prospects, attracting attention from investors looking for high returns in the cutting-edge technology sector of quantum computing.
