Quantum News Briefs: December 16, 2023: States Battle to Become Nation’s First Quantum Tech Hub; Chinese SpinQ ships “undisclosed” superconducting Quantum Processing Units (QPUs) to the Middle East market; 3 Stocks Leading the Quantum Computing Revolution
Quantum News Briefs: December 16, 2023:
States Battle to Become Nation’s First Quantum Tech Hub
Colorado is vying with Illinois to become a key hub for quantum technology under the CHIPS and Science Act, which directs significant federal funding to advanced technologies. Colorado’s bid, led by the Elevate Quantum coalition, is one of the selected candidates moving forward in the multi-phase selection process. This initiative could bring over $1 billion in federal support and substantial economic activity. The state’s quantum technology strengths, supported by local institutions and industry partnerships, aim to advance computing power and foster job creation and workforce diversity in the field. The final decision on funding allocations, which could significantly impact Colorado’s technological and economic landscape, is expected later this year.
Chinese SpinQ ships “undisclosed” superconducting Quantum Processing Units (QPUs) to the Middle East market
This week, SpinQ, a Shenzhen, China-based company, announced the shipment of its first domestically produced Quantum Processing Unit (QPU), named Shaowei, based on superconducting qubit technology. This marks SpinQ as the first Chinese company specializing in quantum technology to export its products outside China, indicating a new potential source of quantum processing chips on the global market, particularly for regions not easily served by Western providers. The Shaowei chips, which use a technology similar to IBM’s approach, have been shipped to a customer in the Middle East. Established in 2018, SpinQ has previously focused on producing simple, desktop-based quantum processing systems with one to three qubits for research and education. The new Shaowei QPU represents a significant advancement for the company, leveraging superconducting qubit technology to offer more substantial quantum computing capabilities potentially. SpinQ’s full-stack approach includes the quantum processing units and the accompanying electronics, control systems, and software development applications, aiming to establish a comprehensive quantum computing ecosystem. However, specific details about the Shaowei chip’s capabilities, such as qubit count and fidelity rates, remain undisclosed.
In Other News: Investor Place article: “3 Stocks Leading the Quantum Computing Revolution”
Investing in quantum computing stocks is increasingly appealing due to the technology’s potential to revolutionize various sectors, an Investor Place article states. Three leading companies in this field include IBM, Quantum Computing (QUBT), and Microsoft (MSFT). IBM, a significant player in cloud computing and AI has made strides in quantum computing with the IBM Quantum Network and recently introduced the IBM Quantum Heron processor and Quantum System Two computer. QUBT, a pure-play quantum computing stock, is advancing with its Quantum Reservoir Computer and Quantum Random Number Generator, aiming to provide accessible quantum solutions for business applications. Microsoft, known for its diverse product range, focuses on Azure Quantum to develop scalable quantum computers for practical applications. These companies represent key players in the evolving quantum computing landscape, each contributing uniquely to the field’s growth and potential applications in pharmaceuticals and financial services.