Quantum Computing Gains a Moment

The promise of quantum computing has been swirling for decades. But as it gets closer to reality, more investors, the government and several industries seem to notice.

This month alone has provided great news for quantum technology and computing — a level of computing that is much faster and at a higher level than modern computers in that, unlike classic computers, it can perform many calculations at once.

Last week, the White House announced several means to support quantum technology, including signing an order that puts the National Quantum Initiative Advisory Committee directly under the authority of the White House to ensure the president has the latest information on the technology.

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After that this week IBMthe chief executive of Arvind Krishna said in an interview that his company will have more than 4,000 quantum computers ready by 2025 — a significant increase in its current hardware with 127 quits.

While the idea of ​​quantum computing has existed since the 1980s, those in the industry and those who invest see the promise of getting closer to reality and the excitement and money-building.

Great computing equals big dollars

Last year, VC-backed start-ups saw a record more than $ 823 million enter the sector. That’s higher than a 70 percent increase from 2020. That’s also a significant increase from previous years as funding struggled to reach $ 200 million, according to Crunchbase data.

Numbers are declining this year with less than $ 200 million invested so far. That does not include SandboxAQ‘s funding that was reported in March. AlphabetSandboxAQ’s 6-year-old quantum technical group was recently released and raised an unspecified “nine-digit” round. Those participating in the round are included Breyer Capitaliama Google CEO Eric Schmidt, Tomaso Tull, First Light Capital Groupfinances and accounts advised by T. Rowe Price Associates, Guggenheim Investments, Time Ventures, Section 32, Parkway Venture Capital and other finance and investors.

“Investor interest has certainly increased,” he said Matt Kinsellamanaging director at Maverick Ventures– an early investor in a Colorado-based quantum technology company ColdQuanta. “Quantity will be an important part of our future.”

Last year saw monstrous circles. This included Palo Alto-based PsiQuantum‘s $ 450 million Series D in July – which gave the company a $ 3.1 billion valuation – and Toronto-based Xanadudesigner of quantum silicon photonic chips that closed $ 100 million Series B last May

In addition to the unknown SandBoxAQ circle, major circles this year include:

  • In January, Switzerland-based Terra Quantum announced $ 60 million Series A and then expanded it to $ 75 million in March.
  • In February, Israel-based Classiq-which has developed a quantum algorithm platform – closed $ 33 million Series B.

“Two years ago we didn’t go out for big money and saw investors enthusiastic,” he said Yehuda Naveh, CTO and co-founder at Classiq. “Now, investors have been much more mature and experienced.”

Just as investors have matured, so has the sector. Naveh said IBM’s timeline is a “reasonable estimate” and added quantum computing can be a game-changing technology.

“This is something completely different,” Naveh said, adding the ability of quantum to do chemical simulations and solve optimization problems will greatly change some industries such as the automotive and supply chain sectors.

More uses and some problems

Kinsella also sees quantum as a “tectonic change in our world.”

While many people are focusing on what quantum might mean in areas such as financial services, chemistry and life sciences, Kinsella said quantum technology like it is applied to sensing and navigation and even clocks could have significant implications.

“The United States (government) is very committed to quantification,” Kinsella said, pointing to President Joe Bidenthe recent measurements of.

Kinsella said quantum navigation could be huge if the Global Positioning System is disconnected. Quantum can do for computing what 5G has done for mobile and fiber optic for internet.

There could also be additional security issues related to quantum. Part of the recent White House initiative included a national security memorandum outlining the administration’s plan to address the security risks posed by quantum technology. Because quantum computers are expected to run millions of times faster than today’s computers, they will also be able to break the cryptography that secures much of our technology infrastructure.

“That’s probably years away, but something you have to watch out for,” Kinsella said. “Companies could appear to protect against that threat.”

Illustration: Dom Guzman

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