Quantum News Briefs: March 12, 2024: Rolls-Royce, Riverlane, and Xanadu partner to win £400,000 Grant From Innovate UK; QMware Announces Collaboration with NVIDIA and Oracle to Advance Hybrid Quantum Computing for Enterprises; PASQAL Announces New Roadmap Focused on Business Utility and Scaling Beyond 1,000 Qubits Towards Fault Tolerance Era; AI, robotics, and quantum computing are in focus as China strives to develop new quality productive forces; “Investor Alert: Buy IONQ Stock Cheap Now or Expensive Later”; and MORE!
Quantum News Briefs: March 12, 2024
Rolls-Royce, Riverlane, and Xanadu partner to win £400,000 Grant From Innovate UK
Rolls-Royce, in collaboration with quantum error correction company Riverlane and quantum computing company Xanadu, has received over £400,000 in grant funding from Innovate UK and an additional CAD 500,000 from Canada’s NRC IRAP to expedite the development of quantum computing applications for modeling airflow through jet engines. The CATALYST project aims to develop a hybrid quantum-classical computing framework to drastically reduce the time needed to evaluate and implement new quantum algorithms from hours to minutes. This initiative marks a significant step towards industrializing quantum computing by focusing on error-corrected quantum computers, which are essential for achieving substantial quantum advantages. It is distinguished by being led by a major industry player, Rolls-Royce, rather than startups, emphasizing the collaboration’s potential to pioneer fault-tolerant computing and significantly enhance product design processes, aligning with the UK Government’s National Quantum Strategy Missions.
QMware Announces Collaboration with NVIDIA and Oracle to Advance Hybrid Quantum Computing for Enterprises
QMware, a hybrid quantum computing leader, announced a collaboration with NVIDIA and Oracle to harness Oracle Cloud Infrastructure powered by NVIDIA A100 Tensor Core GPU clusters and the NVIDIA CUDA Quantum platform for developing a cutting-edge hybrid quantum computing service aimed at enterprise customers. This service, which combines classical high-performance computing with quantum computing for unmatched processing power, will be showcased at Oracle CloudWorld London in March. The partnership signifies a milestone in making quantum computing practical for industrial applications, including AI and quantum machine learning. Using NVIDIA GPUs’ computational power and Oracle’s robust cloud infrastructure, QMware aims to simplify businesses’ access to quantum computing, fostering an ecosystem where developers and researchers can explore quantum computing’s potential to address real-world challenges. This initiative is a step towards integrating quantum computing into everyday business operations, supported by the rapid adoption trends illustrated by McKinsey’s Quantum Technology Monitor.
PASQAL Announces New Roadmap Focused on Business Utility and Scaling Beyond 1,000 Qubits Towards Fault Tolerance Era
PASQAL, a leading neutral atoms quantum computing company, has unveiled its latest technology roadmap, emphasizing its commitment to delivering practical quantum computing solutions to industries. By 2024, PASQAL is set to provide customers, including Fortune 500 partners, with quantum computers featuring over 100 qubits, facilitating the development of new use cases and software. The company aims to pioneer hardware-accelerated algorithms for applications in quantum materials, machine learning, and optimization, projecting the deployment of these innovations in production environments by 2025. Looking further ahead, PASQAL plans to achieve a milestone of 10,000 qubits by 2026, leveraging advancements in Quantum Error Correction to bring closer the era of fault-tolerant quantum computing. Additionally, PASQAL fosters international collaboration and community engagement through initiatives like the Quantum Community platform and Quantum Discovery, a cloud-based service designed to introduce enterprises to quantum computing. With expansions in manufacturing and global offices, including new locations in Saudi Arabia and South Korea, PASQAL is poised to meet the increasing demand for quantum computing solutions and drive significant advancements in the industry.
AI, robotics, and quantum computing are in focus as China strives to develop new quality productive forces
A new Global Times report explains that China has intensified its focus on developing new quality productive forces, a priority echoed in the Government Work Report and championed by President Xi Jinping since September 2023. This initiative aims to modernize China’s industrial system and accelerate sci-tech innovation, targeting high-quality economic development through strategic emerging industries like artificial intelligence, quantum computing, and new green energies. Highlighting the significance of adapting to local conditions, President Xi emphasizes the necessity of high-quality development, urging for innovation and advancing emerging industries. The concept of new quality productive forces reflects China’s commitment to leveraging technological breakthroughs to drive economic growth, supported by significant achievements such as increases in new-energy vehicle output and solar panel production. This approach is seen as essential for China to maintain its competitive edge in global industrial competition and capitalize on its vast market for testing and applying new technologies. Additionally, initiatives like AI Plus aim to integrate AI with manufacturing, enhancing productivity and fostering smart manufacturing despite facing supply capability, application, and standardization challenges.
In Other News: itWire article: “Why quantum computing isn’t going to replace classic CPUs anytime soon (but they will work together)”
Aruna Kolluru from Dell Technologies highlights in a recent itWire article that the burgeoning field of quantum computing, emphasizing its transformative potential across business, science, and technology. With investments projected to reach $US16.4 billion by 2027, quantum computing is set to revolutionize industries by solving complex problems beyond the capability of classical supercomputers. Utilizing qubits that can exist in multiple states simultaneously, quantum computers offer exponential processing power. Despite its complexity, quantum computing is viewed as an accelerator within technological transformation, complementing rather than replacing classical computing. Dell’s collaboration with IonQ on a hybrid classical-quantum platform showcases the practical integration of quantum capabilities into current computing infrastructures, aiming to enhance high-performance computing and enable advanced applications such as drug development. This blend of classical and quantum computing ensures that quantum technology will augment rather than supplant existing systems, marking a significant leap forward in computing capabilities while focusing on augmenting classical computing’s strengths.
In Other News: Investor Place article: “Investor Alert: Buy IONQ Stock Cheap Now or Expensive Later”
A new Investor Place article explains that IonQ has seen a significant uptick in its quarterly revenue, surpassing consensus expectations and signaling robust growth in the quantum computing sector. The company has made a historic stride by opening the first quantum computing manufacturing facility in the United States in Seattle, which aims to produce quantum computers for deployment in customer data centers. This move has garnered support from key political figures, highlighting the potential of quantum computing to revolutionize industries such as healthcare, energy, and agriculture. IonQ’s financial performance is equally promising, with a reported 60% year-over-year revenue increase to $6.106 million in the fourth quarter of 2023, exceeding the expected $5.8 million. Looking forward, IonQ projects further revenue growth, with estimates ranging between $6.5 million and $7.5 million for the current quarter, outpacing consensus forecasts. This financial and operational momentum underscores IonQ’s leading position in the quantum computing industry. It presents a compelling case for investors to consider IONQ stock as a strategic addition to their portfolios, reminiscent of the early opportunities in AI stocks.
