Quantum News Briefs: January 4, 2023: Baidu to donate quantum computing lab, equipment to Beijing institute; From Diamonds in Your Computer to Safer Medications, NIST Researchers Look at What’s Next for 2024 and Beyond; New Qubit Paradigms, QAAS, Improved Fidelity: Quantum Hardware in 2024; and MORE!
Quantum News Briefs: January 4, 2023:
Baidu to donate quantum computing lab, equipment to Beijing institute
In a significant development in China’s quantum computing landscape, Baidu announced plans to donate a quantum computing laboratory and equipment to the Beijing Academy of Quantum Information Sciences (BAQIS), a government-backed entity. This move aligns with Baidu’s ongoing commitment to quantum research, having established its own quantum computing research center in 2018. The announcement follows a similar decision by Alibaba to donate its quantum computing lab and equipment to Zhejiang University amid a company restructuring. Baidu and BAQIS have collaborated, notably launching China’s first quantum computing industry intellectual property alliance in March last year. This gesture marks a notable step in fostering quantum computing research and collaboration in China.
In Other News: Yahoo Finance article: “Cloud-based Quantum Computing Market projected to reach USD 6,289.8 Million by 2030, growing at a CAGR of 35.5% during the forecast period of 2023-2030says MarketDigits in its latest study”
The Global Cloud-based Quantum Computing Market is experiencing rapid growth, with its value estimated to soar from USD 750 Million in 2023 to USD 6,289.8 Million by 2030, at a CAGR of 35.5% says a recent Yahoo Finance article. This market expansion is driven by increasing demand for advanced computational capabilities and the advent of cloud services that democratize access to quantum resources. Major tech companies like Accenture, AWS, Baidu, and IBM are key players in this market, contributing to its development through investments and innovations. Cloud-based quantum computing, enabling remote access to quantum processors, is revolutionizing diverse applications such as encryption, optimization, and simulation across various industries, including finance, healthcare, and logistics. North America, particularly the United States and Canada, is leading this market thanks to a strong tech ecosystem and significant R&D efforts. The research and academia sector is anticipated to hold the largest market share, benefiting from the accessible and collaborative nature of cloud-based platforms for quantum computing.
In Other News: NIST article: “From Diamonds in Your Computer to Safer Medications, NIST Researchers Look at What’s Next for 2024 and Beyond”
In a recent NIST blog article, NIST’s postdoctoral researchers shared their predictions for the future impacts of their work in various fields. Melinda Kleczynski is working on understanding the shapes and movements of antibodies, including artificial monoclonal antibodies, to improve drug development and treatment efficacy. Akash Dixit is involved in quantum computing research, exploring its potential for computation, communication, and encryption, with applications that could extend to fields like cosmic research and space-based technologies. William “Drew” Borders focuses on making computer chips more energy-efficient and AI-ready, utilizing magnetic tunnel junctions for processing AI operations directly on the chip’s memory. Trey Diulus is researching the use of lab-grown diamonds as an alternative to silicon in semiconductor devices, aiming to create more reliable and efficient electronic devices that can withstand extreme temperatures and open up new possibilities like clear touch-screen surfaces. These researchers at NIST are pushing the boundaries in their respective fields, with implications for advancements in medicine, computing, and electronic device manufacturing.
In Other News: IoT World Today: “New Qubit Paradigms, QAAS, Improved Fidelity: Quantum Hardware in 2024”
A recent IoT World Today article highlights the quantum industry achieving significant hardware breakthroughs, including a record number of qubits, enhanced error correction, and expanded cloud access to quantum-as-a-service (QaaS) and hybrid supercomputing platforms. This progress has intensified the race toward quantum supremacy, with researchers exploring new qubit technologies and their integration with classical supercomputers. LightSolver‘s CTO Chene Tradonsky highlighted the potential of laser-based solutions in high-performance computing, a sentiment echoed by Microsoft’s announcement of an all-optical computer. Philip Krantz from Keysight anticipates a rise in QaaS providers to alleviate the cost and resource burden of developing quantum labs. At the same time, Travis Humble of Oak Ridge National Laboratory expects continued advancements in the quantity and quality of quantum hardware. These improvements are set to enable new scientific and commercial applications and advance quantum error correction techniques, signaling a move beyond proof-of-concept demonstrations in quantum computing.
In Other News: Investor Place article: “3 Quantum Computing Stocks You’ll Regret Not Buying Soon”
The quantum computing industry is seeing remarkable growth, with three companies – Rigetti, Booz Allen Hamilton, and Quantum Computing Inc. – poised as strong investment opportunities, says a new Investor Place article. Rigetti (RGTI) has made strides with its 9-qubit Novera QPU and participation in DARPA’s Quantum Evaluation Program, despite a current financial loss. Booz Allen Hamilton (BAH) reported a 16.0% year-over-year increase in quarterly revenue, reaching $2.7 billion in Q2 fiscal 2024, and has secured significant contracts, including a $630 million deal with the U.S. Space Forces. Quantum Computing Inc. (QUBT) showed a revenue increase in Q3 2023 and is establishing a quantum photonic chip manufacturing plant in Arizona, indicating a strong commitment to technological development. These companies are at the forefront of quantum computing advancements, offering promising prospects for investors in this rapidly evolving sector.