Category Archives: Quantum Computing

The race to deliver quantum computing solutions that shield users from the underlying complexity of quantum computing is heating up quickly. One example is Multiverse Computing, a European company, which today launched the second financial services product in its Singularity product group. The new offering, Fair Price, deliver[s] a higher accuracy in fair price calculations for financial institutions over current classical computing methods according to the company.

This is a product, says the company, thats now available and can be leased for 100,000 euros a year. Multiverse reports at least one bank is evaluating it for use in a production environment.

It does seem as if the financial services sector will be an early adopter of quantum computing and so-called quantum-inspired classical computing solutions. Caveat: These are still very early days for all of quantum computing. Multiverses product announcement is occurring even as the fundamental technology ecosystem of quantum processors, quantum networking, quantum storage, firmware, etc., is still developing.

Multiverses broad idea is to deliver quantum computing solutions that match the problem tackled with the most appropriate underlying quantum technology. Its a software company with extensive relationships within the quantum hardware community. The Fair Pricing product, for example, relies heavily on Monte Carlo simulation. For this application, Multiverse is leveraging IonQs trapped ion quantum computer. Portfolio optimization, the other product currently in the Singularity suite, has a different set of requirements. Multiverse uses D-Waves quantum annealing computer for this application.

Broadly, all of the quantum computing elements are hidden from the end user, explained Multiverse co-founder and CTO Sam Mugel during an interview with HPCwire. Half in jest, he said, Were quantum computing for the masses. Indeed, the whole quantum computing community is working feverishly to develop tools to abstract away the need to know much about the underlying quantum technology.

All thats needed to interface with Multiverse, says Mugel, is the ubiquitous Excel spreadsheet, a tool that is very familiar to quantitative financial analysts. Multiverse handles the under-the-hood quantum pieces. At least thats the idea.

Formed in 2019, with a headcount of roughly 35 and growing, Multiverse is one of many start-ups seeking to build on quantum research thats already done. They seek to act as a translating layer (for lack of a better term) to enable enterprises to use quantum computing. Like most quantum computing newcomers, Multiverses staff is dominated by Ph.D. mathematicians and quantum researchers. Mugels Ph.D., for example, was in cold atom quantum computing (link to founders).

Based in Spain, Multiverse is one of seven companies that recently formed a consortium (Amatech, BBVA, DAS Photonics, GMV, Multiverse computing, Qilimanjaro Quantum Tech y Repsol) and launched the CUCO Project to foster quantum computing research and development in Spain. The CUCO effort is another example of burgeoning state-funded efforts around the world; CUCO is aimed at implementing medium-term private-public quantum projects.

Mugel didnt dig deeply into how the Fair Pricing product works. Other companies are leveraging quantum computings ability to quickly and effectively generate random numbers for use in cryptography and Monte Carlo simulation; presumably this plays a role in Multiverses approach. As described by Mugel, Multiverse has built a tool that takes input data (e.g. parameters) from the client via an Excel spreadsheet interface.

The IonQ tool we built relies on quantum-accelerated Monte Carlo. This is an extremely hot topic at the moment and has stirred a lot of excitement in the finance community because Monte Carlo tools are so omnipresent. The motivation is that you have very well-known and well-defined bounds on how far you can push a Monte Carlo calculation. If you do so many samples, then youre going to reach this accuracy. We know that statistically, and you wont be able to exceed that classically, but you can go beyond that quantum mechanically, said Mugel.

Well run two calculations in parallel, or its an option to run two calculations in parallel. Weve got default settings that will shoot [the job in the correct format] to IonQ. Then well do a classical benchmarking in parallel and have a comparison of the two outputs essentially, he said.

The company says using trapped ion quantum computers from IonQ with common PC-based software tools, the Singularity Fair Price solution can reduce error rates by 43 percent without increasing the number of runs or runtime. Below is a chart from a Multiverse paper, Quantum Portfolio Value Forecasting.

The portfolio optimization tool works differently.

Monte Carlo can only be run on certain types of machines, which are universal quantum computers or gate model quantum computers. For optimization, were using analog quantum computing. Quantum annealing is a very specific type of architecture. What youre really looking to do is solve an optimization problem and theres are very efficient way of doing this quantum mechanically. We found theres a very nice correspondence between the portfolio optimization tool, and the problem thats natively solved by D-Wave. At the moment, we have a bank that has access to the code and is playing around with it and seeing if they want to put it into production, said Mugel.

D-Wave, of course, is an early pioneer in analog quantum computing and a specialist in optimization problems. Its also one of very few vendors who have actually sold quantum systems as on-premise, stand-alone systems. Last fall, D-Wave expanded its efforts and started on a program to develop gate-based systems. The latter effort is in very early stages. (See HPCwire coverage, D-Wave Embraces Gate-Based Quantum Computing; Charts Path Forward)

Multiverse has published on its optimization work including this recent paper (Hybrid Quantum Investment Optimization with Minimal Holding Period) on arXiv on which Mugel was a lead author. Heres the abstract:

In this paper we propose a hybrid quantum-classical algorithm for dynamic portfolio optimization with minimal holding period. Our algorithm is based on sampling the near-optimal portfolios at each trading step using a quantum processor, and efficiently post-selecting to meet the minimal holding constraint. We found the optimal investment trajectory in a dataset of 50 assets spanning a one year trading period using the D-Wave 2000Q processor. Our method is remarkably efficient, and produces results much closer to the efficient frontier than typical portfolios. Moreover, we also show how our approach can easily produce trajectories adapted to different risk profiles, as typically offered in financial products. Our results are a clear example of how the combination of quantum and classical techniques can offer novel valuable tools to deal with real-life problems, beyond simple toy models, in current NISQ quantum processors.

As youd expect, Multiverse uses a blend of classical and quantum computing resources to obtain answers for collaborators and customers. Mugel declined to describe what specific types of classical system resources it uses, but did say much the work is done in the cloud. The figure below from the Multiverse website identifies its partners and they are certainly familiar names in the quantum community.

Core to Multiverses approach is matching problems with appropriate quantum technology; thats an interesting challenge given steady advances being made among widely-varying qubit technologies. Like most quantum observers, Mugel expects there to be diversity of options.

At least in the short- or medium-term, I believe that were going to continue seeing different platforms. For instance, take the Fair Pricing tool that we developed; we dont actually need that many qubits for it. What we do need is very high fidelity and fully-connected architectures. Its important that any qubit can talk to any other, and that we have many gates. We need very high [circuit] depths. Error rates really compound if youre not careful. In this case, ion trap architectures were a godsend. But if we tried to apply ion trap architectures to portfolio optimization, they might not work as well. In portfolio optimization, we need lots of qubits, so that we can look at lots of assets. It doesnt really matter if theres lots of errors because even a suboptimal portfolio is actually already really quite interesting, said Mugel.

The company is actively working with many qubit technologies.

Weve done lots of work with IBMs architecture, also in the portfolio optimizations domain. Were working a lot with ultra-cold atoms (companies). Im really partial to this because this is what my PhD is in, and also it scales incredibly well. The problem is interesting: you have access to many more qubits, but the error rates are higher, but theres also more connectivity. So potentially, these are more suited for certain types of problems like, for instance, hybrid calculations, like Variational calculations, he said.

Weve got a very ambitious project ongoing with CUCO on how to solve quantum machine learning types of calculations on ultra-cold atoms. Were also working with photonic architectures and are good friends and supporters of Xanadu. Were looking at applying their architecture to energy markets. This is quite interesting. A client from completely outside of finance came to us and said, Hey, weve got a problem thats actually quite similar to portfolio optimization, were in a different field giving forecasts of supply and demands of energy. How do we optimize energy management? And we said there might be a fit to solve this on like some injuries architecture was very well suited for complex network problems.

With so much activity going on in the broad quantum computing ecosystem, it will be interesting to watch how companies like Multiverse fare in trying to deliver quantum computings advantage to users while hiding its complexity. While Multiverses current products serve FS niches, the company has ambitions to work with many industry segments.

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Multiverse Targets 'Quantum Computing for the Masses' - HPCwire

For more than 15 years, researchers at Microsoft have been chasing the idea of building a better quantum computer, an ultrapowerful machine that promises to accelerate everything from drug discovery to the development of electric batteries.

Along the way, the company has suffered setbacks as it takes a noveland riskyapproach to developing the technology. Last year, for instance, a group of physicists that included a Microsoft researcher had to retract a paper related to quantum computing, an embarrassment that dampened morale. And even as it made progress with one method of controlling the building blocks of quantum computers, it turned away from its work on another, shutting down a project that had been underway for several years. The move resulted in several hundred people having to find new jobs within Microsoft, said a person with direct knowledge of the change.

Still, Chetan Nayak, a distinguished engineer at the company and one of Microsofts top quantum computing researchers, told The Information in an interview that the company is making technical progress. A breakthrough just before the holidays gave him more faith in its efforts, he said. While Nayak wouldnt go into much detail, he said Microsoft conducted simulations that made him confident the companys approach wasnt a dead end. He was so enthusiastic about the results that he told his wife he didnt need a Christmas gift.

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Microsoft Quantum Computing Executive Sees Progress After Lagging Rivals - The Information

A year ago French president Emmanuel Macron announced plans to provide a framework for his nation's industrial and research forces to make the country a key player in the development of quantum technology. The "Quantum Plan" included an investment of 1.8 billion ($2 billion) over five yearsa significant increase that placed France third after the United States and China.

That included nearly 800 million for computers alone.

Thesector has already experienced significant growth, with patent filings doubling between 2018 and 2020, according to data and analytics company GlobalData. It is believed that the technology could potentially revolutionize areas of defense such as artificial intelligence (AI), enabling autonomous vehicles and improved targeting for precision weapons systems.

Quantum Leap Forward

Quantum computers are not just improved computers. Rather the machinesonce fully developedcould utilize the properties of quantum physics to store data and perform computations. Theoretically, a single quantum computer could complete in seconds tasks that would take classical computers thousands or even millions of years.

The first nation to achieve quantum computing could have a significant advantage, especially as the technology could render current encryption obsolete.

According to a new report from GlobalData, "Quantum Technologies in Defense," this is why many countries are concerned about falling behind in the quantum race due to the potential for the technology to revolutionize communications. Communication is a critical area for the defense sector, with quantum key distribution (QKD) having the potential to completely prevent adversaries from accessing secure communications.

Per the report: "As the existing quantum workforce is extremely small, with only a limited number of people having the capability to design and build quantum computers, countries are pushing to develop an industrial and skills base that will enable them to utilize quantum technologies."

Part of France's spending will initially be to create a platform that will allow traditional computers to access quantum processing power. "Quantum computers are expensive and extremely complex to build, so a remote platform is critical for providing the defense industry with access to quantum tools," explained William Davies, associate defense analyst at GlobalData, in an email.

"The technology is an important investment for the future of the French defense industry, and is a good move for the country to keep up with its peers," Davies continued. "Allies such as the U.S. and the UK are also investing, as well as adversaries such as China, largely to benefit their own defense interests. Further, IQM, a European quantum computer company, is opening an office in Paris in 2022 as a direct response to France increasing investment in quantum. This businessinvestment will provide opportunities for France to expand its domestic quantum base and increase the amount of trained personnel in the sector."

Along with hypersonic weapons, stealth technology, and high-energy weapons, quantum computing could be a significant game changer. Clearly France intends not to be left behind.

Peter Suciu is a Michigan-based writer who has contributed to more than four dozen magazines, newspapers and websites. He regularly writes about military small arms, and is the author of several books on military headgear including A Gallery of Military Headdress, which is available on Amazon.com.

Image: Reuters.

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How France Is Becoming a Quantum Computing Power - The National Interest

In todays China, behemoths like Alibaba Group Holding Ltd. and Tencent Holdings Ltd. are out of favor, but little giants are on the rise.

Thats the designation for a new generation of startups that have been selected under an ambitious government program aimed at fostering a technology industry that can compete with Silicon Valley. These often-obscure companies have demonstrated theyre doing something innovative and unique, and theyre targeting strategically important sectors like robotics, quantum computing and semiconductors.

Wu Gansha won the little giants title for his autonomous driving startup after a government review of his technology. That gave the Beijing company, Uisee, an extra dose of credibility and financial benefits. Last year, it raised more than 1 billion yuan ($157 million), including money from a state-owned fund. Its also become a unicorn, with a valuation of at least $1 billion.

Its an honor to wear the little giant label, Wu said. The essence of the project is that the companies must possess some specialty that others dont have.

The program has been around for more than a decade, but it has taken on new prominence after Beijing launched a sweeping crackdown against leading companies like Alibaba and Tencent. The little giants label has become a valued measure of government endorsement, a signal for investors and employees that the companies are insulated from regulatory punishment. Chinese President Xi Jinping has given his personal blessing to the program.

This is helpful to startups in many ways: Its a subsidy. Its a grant. Its an honor. Its a stamp of approval, said Lee Kai-Fu, founding managing director of the venture firm Sinovation.

The program is key to the Chinese Communist Partys ambitious strategy to reposition the countrys technology industry. For two decades, China largely followed the Silicon Valley model, allowing entrepreneurs to pursue their ambitions with little government oversight. That led to enormous successes, including e-commerce pioneer Alibaba, social media giant Tencent and ByteDance Ltd., creator of the hit TikTok short-video app.

Kai-Fu Lee, chairman and chief executive officer of Sinovation Ventures, center, speaks during a panel discussion at the Bloomberg New Economy Forum in Beijing in 2019. | BLOOMBERG

But in a series of regulatory moves over the past year, Beijing made clear the technology industry must realign to conform with government priorities. Alibaba and Tencent were quickly forced to eliminate anti-competitive practices, while games companies had to limit minors to three hours of online play per week. More broadly, the government has signaled softer internet services are out of favor.

Instead, Beijing aims to shift resources to strategically important technologies like chips and enterprise software. The Ministry of Industry and Information Technology has named 4,762 little giants since 2019, many in semiconductors, machinery and pharmaceutical industries. The designation typically comes with lucrative incentives from the central government or provincial authorities, including tax cuts, generous loans and favorable talent acquisition policies.

What the country is trying to promote is more hardcore technology, said Yipin Ng, founding partner of Yunqi Partners, a venture fund that is investing in little giants. In that sense, this is more in line with what they are trying to promote things that makes China more competitive.

Governments from the U.S. to Africa have established programs to support smaller enterprises, but Chinas efforts dwarf those in terms of scale, resources and ambition. Xi, the countrys most powerful leader since Mao, has instituted a half dozen programs that will collectively disburse trillions of dollars in pursuit of economic might, social stability and technological independence.

The U.S. trade war has stiffened the Chinese Communist Partys resolve to build a self-sufficient industry. The countrys vulnerability was exposed when former U.S. President Donald Trumps administration blacklisted national champions like Huawei Technologies Co. and Semiconductor Manufacturing International Corp. That prevented them from buying U.S. components such as chipsets and industrial software, crippling operations.

The little giants concept dates back to at least 2005, when the local government in Hunan province instituted policies to support small enterprises. The central governments powerful MIIT endorsed the Hunan campaign, which included land grants and financial support, as a model for developing the private sector. Local governments in places like Tianjin began their own initiatives.

It was in 2018, with the trade war, that the central government began to seriously push the program. MIIT announced a plan to create about 600 little giants that would develop core technologies. The procedure for winning the designation was designed to foster competition and identify the most promising companies.

Smartphones display the TikTok logo in front of the ByteDance logo in this illustration from 2019. | REUTERS

Candidates apply with a six-page form detailing financial status, number of patents and research accomplishments. In the first round of selection, each province could nominate no more than a dozen companies. The countrys top three tech hubs Beijing, Shenzhen and Shanghai had a combined quota of only 17 candidates.

Guan Yaxin, chief operating officer of Beijing-based ForwardX Robotics, said the process was relatively smooth for her company because it has proven innovations, with 121 patents globally, including 25 in the U.S.

This government endorsement is very helpful when I expand the business because the clients will understand we are not just a random startup, she said.

MIIT has since expanded the program to thousands of companies, with about 1,000 priority little giants at the top of the hierarchy. Members of this rarefied club, which includes Wus Uisee, receive direct funding from the central government. In January, the Finance Ministry set aside at least 10 billion yuan to fund small and mid-sized enterprises until 2025, with the lions share directly financing the priority startups research. The goal is to create 10,000 little giants by 2025.

Its quite clear that this is a selection of companies very much subordinate to Chinas specific industrial policy and needs, said Barry Naughton, a professor and China economist at the University of California, San Diego. They were partially picked because they are good firms, but an equally important criteria is they fit the urgent policy needs of the government right now.

There are substantial risks. The success of Chinas technology industry over the past 10 years came from giving entrepreneurs like Alibabas Jack Ma and ByteDances Zhang Yiming free rein to build their businesses. Flipping the model to focus on the governments priorities risks leading to waste and failure, Naughton said.

These are small companies that are being nurtured because they can potentially be alternative suppliers. How do you nurture them? You throw money at them, he said.

The little giants have become popular targets for venture capitalists, many of whom lost money on portfolio companies during Beijings crackdown. One VC said that some startups in the program have been able to raise capital in the last six months while boosting their valuations by 50% to 75%. Another VC reportedly invests only in companies identified as little giants by the government.

Signs of Alibaba Group and Ant Group are seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, in Nov., 2020. | REUTERS

Zhang Hui, co-founder of Guizhou Changtong Electric Ltd., applied for the program in Guizhou province in 2020 and received the award last year, based on his companys power equipment technology. The startup soon landed more than 100 million yuan from state-backed funds, and other investors have been knocking on his door to offer additional capital.

Of course, venture investors will chase little giants for investment, he said. It would be a surprise if they didnt.

Venture investments in China hit a record last year despite the crackdown. The value of deals rose about 50% in 2021 to $130.6 billion, according to the research firm Preqin.

EcoFlow Inc., a portable battery startup in Shenzhen, announced a 100 million yuan fundraising led by Sequoia as the company won the little giant label from MIIT. The four-year-old firm now plans an initial public offering in its hometown city within three years.

The government is also making it easier for these startups to go public, another incentive for entrepreneurs and venture investors. China set up a dedicated stock exchange in Beijing last year to help small enterprises raise capital.

Guan of ForwardX Robotics pointed out that founders retain control over their companies even if they participate in such government programs. Her company, which makes mobile robots used in manufacturing and logistics, has about 300 employees and plans to expand into Japan and the U.S. She sees the governments support as a big benefit as little giants try to grow.

Many of them are very small now compared with multinationals, she said. But the government sees the potential for them to become a real giants one day.

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China's 'little giants' are its latest weapon in tech war with U.S. - The Japan Times

IBM has announced that LG Electronics has joined the IBM Quantum Network to advance the industry applications of quantum computing. By joining the IBM Quantum Network, IBM will provide LG Electronics access to IBM's quantum computing systems, as well as to IBM's quantum expertise and Qiskit, IBM's open source quantum information software development kit.

LG Electronics aims to explore applications of quantum computing in industry to support big data, artificial intelligence, connected cars, digital transformation, IoT, and robotics applications?all of which require processing a large amount of data.

With IBM Quantum, IBM says, LG can leverage quantum computing hardware and software advances and applications as they emerge, in accordance with IBM'squantum roadmap. By leveraging IBM Quantum technology, LG will provide workforce training to its employees, permitting LG to investigate how potential breakthroughs can be applied to its industry.

"We're happy to welcome LG Electronics to a growing quantum computing ecosystem in Korea at an exciting time for the region," saidJay Gambetta, IBM fellow and VP, quantum computing, at IBM. "The relationship between IBM and LG Electronics will permit LG to explore new types of problems associated with emerging technologies and will help strengthen the quantum capabilities in Korea."

At the IBM Quantum Summit inNovember 2021, IBM recentlyunveiledits new 'Eagle' quantum computing processor with 127 qubits, a major step forward in IBM's roadmap to reach Quantum Advantage.

There are more than 170 clients, including LG Electronics, Fortune 500 companies, start-ups, academic institutions and research labs working with IBM Quantum technology to advance quantum computing and explore practical applications.

For more information about IBM's quantum computing efforts, visitwww.ibm.com/quantum-computing.

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LG Electronics Joins the IBM Quantum Network - Database Trends and Applications

CompanyDate initiatedAreaTechnologyAffiliate University or Research InstituteHeadquartersAccenture[1]June 14, 2017ComputingAEGIQ[2]2019Computing/CommunicationPhotonics and Integrated Photonics, Quantum Dots, CryptographySheffield, UKAlice&Bob2020ComputingSuperconductingParis, FranceAliro Quantum2019Computing/NetworkingQuantum Development Environment, Quantum Network Simulation/EmulationSpun out of Narang Lab, HarvardBoston, MAAlpine Quantum Technologies[3]2018ComputingTrapped IonUniversity of Innsbruck and the Institute for Quantum Optics and Quantum Information (IQOQI)Innsbruck, AustriaAmazon[4][5]2021ComputingSuperconductingCalifornia Institute of TechnologyPasadena, CaliforniaAmberFlux2019Computing/CommunicationsQuantum Programming, Classical Simulation, Optimization, Algorithms, Quantum Financial ServicesHyderabad, IndiaAirbus[6]2015ComputingAlgorithmsBlagnac, FranceAT&T[7]2011CommunicationCalifornia Institute of Technology, Fermilab[8]Dallas, TX, USAAliyun (Alibaba Cloud)[9]July 30, 2015Computing/Communication[9][10]SuperconductingChinese Academy of Sciences[10][11][12]Hangzhou, ChinaAtos[13][14]Computing/CommunicationQuantum Programming, Classical Simulation, CryptographyBezons, FranceAUREA Technology2010Quantum Communication, Quantum Cryptography, Quantum EntanglementSingle-photon source, Photon counting, Quantum key distribution, Photonics, Single-photon avalanche diodeBesancon, FranceBaidu[15]2018ComputingAlgorithmsUniversity of Technology Sydney[15]Beijing, ChinaBOLTZ.AI[16]2020ApplicationsQuantum Algorithms|Quantum programming|Quantum ConsultingUniversity of Toronto[15]Toronto, CanadaBooz Allen Hamilton[17]ComputingTysons Corner, VA, USABoxcat Inc.[18]2017ComputingQuantum Algorithms, Quantum Rendering, Quantum Image Processing, Super-Resolution, Quantum Machine LearningUniversity of Toronto, UFRN[19]Toronto, CanadaBT[20]CommunicationLondon, UKCarl Zeiss AG[21]University College LondonOberkochen, GermanyCambridge Quantum Computing[22]2014ComputingQuantum Algorithms Quantum CybersecurityUniversity of CambridgeCambridge, UK London, UKClassiq[23]2019ComputingQuantum Algorithms Quantum SoftwareTechnion Israel Institute of TechnologyTel-Aviv, IsraelCogniFrame Inc[24][25]2019ComputingQuantum Algorithms Quantum and Near Quantum Solutions to solve NP Hard, Optimization, Simulation & Machine Learning problems. 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Quantum Computing Software

Quantum Random Number Generator

Orquestra Quantum Operating Environment[84]

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List of companies involved in quantum computing or ...

Maria LepskayaContributor

Market trends are the best indicators we have to judge the maturity of the quantum industry. While they dont perfectly reflect technological progress, they showcase investors willingness to write checks for the industry.

In the next three to five years, quantum computers manufacturers are expected to generate revenue of $5 billion to $10 billion, according to Boston Consulting Group. McKinsey expects the chemical and pharma industries to be the first potential users of quantum computing, enabling the accurate simulation of larger numbers of atoms and molecules, which is not possible today using classical supercomputers.

Although many VCs seem to be new to quantum technologies, some investors foresaw this movement several years ago and are now making their first quantum exits.

Take IonQ, a U.S.-based manufacturer of ion-trapped quantum computers, for instance. The company was founded in 2015, and it went public in 2021 through a SPAC at a $2 billion valuation. Berkeley-based Rigetti will also go public through a SPAC this year, raising $458 million at a $1.5 billion valuation. The company is developing a superconducting quantum computer, which already could scale up to 80 qubits.

IonQ and Rigettis IPOs set the valuation benchmarks for the whole industry, which impact the valuations of all quantum deals. More importantly, these IPOs show venture capitalists could make money from the quantum industry without significant commercialization of the technology.

Today, a quantum processor is a complicated device requiring a lab environment. This makes cloud access to quantum processors preferable, which was not possible during the emergence of classical computers. As a result, quantum hardware manufacturers develop their own cloud-based operating systems. Right now, it is hard to imagine someone would build a large quantum OS company as Microsoft did in the 1980s.

Although technology maturity will still take many years, the future winners in the quantum computing market will be determined in the next two years. We are expecting a first consolidation phase led by the 10 leading full-stack quantum hardware players, said Benno Broer, CEO at Qu&Co. This is a path the quantum industry may follow, collecting pieces of the stack via acquisitions.

Quantum startups map, as of October 2021. Image Credits: Runa Capital

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Will quantum computing remain the domain of the specialist VC? - TechCrunch

IonQ, a leader in trapped-ion quantum computing, and Hyundai Motor Company today announced a partnership to develop new variational quantum eigensolver (VQE) algorithms to study lithium compounds and their chemical reactions involved in battery chemistry

IonQ, a leader in trapped-ion quantum computing, and Hyundai Motor Company today announced a partnership to develop new variational quantum eigensolver (VQE) algorithms to study lithium compounds and their chemical reactions involved in battery chemistry.

Quantum-powered chemistry simulation is expected to significantly enhance the quality of next-generation lithium batteries by making improvements to the devices charge and discharge cycles, as well as their durability, capacity and safety.

The partnership pairs IonQs expertise in quantum computing and Hyundais expertise in lithium batteries. Together, the teams are creating the most advanced battery chemistry model yet developed on quantum computers, measured by the number of qubits and quantum gates.

IonQ and Hyundai are laying the foundation to create better quality batteries by more precisely simulating and controlling their chemical reactions. This research has the potential to lead to new types of source material that save time, cost, and effort in the years to come a critical advancement as batteries are typically the most expensive component of an electric vehicle (EV).

This creative collaboration with IonQ is expected to provide innovation in the development of basic materials in virtual space for various parts of the future mobility, said TaeWon Lim, Executive Vice President and Head of Materials Research & Engineering Center at Hyundai Motor Group. Were excited to step into the upcoming quantum era and take advantage of the opportunities that await with more effective battery power.

Todays collaboration is a crucial component of Hyundais Strategy 2025 goals, which include the sale of 560,000 EVs per year and the introduction of more than 12 battery electric vehicle (BEV) models to consumers. Moreover, the partnership is also an important milestone for combating the threat of climate change as EVs play a critical role in meeting global sustainability targets.

We at IonQ believe in our mission to solve the worlds most complex problems through the ongoing development of our quantum computers, and we see global climate change as one such problem that we can help to tackle with quantum chemistry solutions, said Peter Chapman, President and CEO of IonQ. Battery efficiency is one of the most promising emerging areas where quantum computing can make a difference. We are thrilled to be working with Hyundai Motor Company on this project to make EVs a primary mode of transportation across the globe.

SOURCE: Hyundai

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IonQ and Hyundai Motor partner to use quantum computing to advance effectiveness of next-gen batteries - Automotive World

ELMSFORD, N.Y.--(BUSINESS WIRE)--SEEQC, the Digital Quantum Computing company, today announced the addition of a scientific advisory board to its leadership. This addition comes at a time when the company is unveiling a new brand identity and expanding its team internationally, including the appointment of Shu-Jen Han as its vice president of engineering.

Scientific Advisory Board

SEEQCs new scientific advisory board consists of leading academics from across the world, including Javad Shabani, assistant professor of physics at NYU, professors from the University of Napoli Federico II, Francesco Tafuri and Giovanni Piero Pepe, and Maxim Vavilov, professor at the University of Wisconsin.

The company instituted this board of quantum scientists to guide SEEQCs team as they continue their mission to solve quantum computings' most challenging problems. The board will help ensure that SEEQC bases its products, research and development on sound scientific data.

By integrating this team of scientists into SEEQCs product roadmap, the company can internally peer-review its research and development and receive feedback and scientific advice more quickly than other commercial entities. This ensures that the company is receiving proper oversight and quality consultation as it advances its technological discoveries expanding quantums reach from academia to real-world application.

The fact that half of my fellow board members work in foreign universities, and many of us have international backgrounds, should not be overlooked. SEEQC is an international company, and it is incorporating that element of itself at every level, said advisory board member, Francesco Tafuri. By bringing together this group of international scientists, SEEQC is getting access to even more experience than by engaging exclusively with American universities. These individuals bring a rich and diverse history of scientific research and experience to the company with them.

Appointing New Vice President of Engineering

In addition to expanding its leadership with the advisory board, SEEQC has also appointed industry veteran Dr. Shu-Jen Han as its vice president of engineering. Han brings more than a decade of experience in the nanotechnology and semiconductor industry to SEEQC, as well as world-class expertise in logic and memory chip-making a critical component of scaling the companys system-on-a-chip quantum design.

Han started his career at IBM working in the semiconductor sector after receiving his Ph.D. from Stanford University, later he managed the nanoscale device and technology group at IBMs T. J. Watson Research Center working on world-leading post-silicon transistor research. Han has valuable experience in advancing complex semiconductor chip technology from basic research to product qualification both as a director and later as senior director at HFC Semiconductors Advanced Memory Technology Division. He has authored over 90 technical publications, two book chapters and over 150 issued US patents.

Were thrilled to formally welcome Shu-Jen to SEEQC, and I am excited by the leadership and expertise hell bring to our global team of quantum engineers and researchers, said John Levy, CEO of SEEQC. Shu-Jen is one of the foremost minds in the semiconductor research and development world were grateful he chose to join SEEQC and our mission to bring scalable quantum computing to the enterprise world.

In his new role, Han will help build a scalable research and development organization, lead SEEQCs multi-disciplinary engineering groups and establish a clear roadmap for its commercialization. He also oversees the day-to-day operations of the companys newly renovated chip foundry, a fully operational chip manufacturing facility focusing on superconducting quantum and classic electronics.

Renewed Brand Commitment

As the company continues to evolve its technology and business model, it is also evolving its unique brand. Under the guidance of its creative director, Fredrik Carlstrm, SEEQC is rededicating itself to its original goal and mission statement under renewed branding and communication initiatives.

SEEQC was built upon the premise of approaching quantum differently than its predecessors and counterparts, and its new brand reflects that. The brand takes into account SEEQCs unique team, the integrated process in which design, manufacturing and testing are all done in-house, resulting in a unique approach to building a scalable quantum computer.

The new brand reflects SEEQC at its core not only as a company name but as an acronym: Scalable, Energy-Efficient Quantum Computing. Other aspects of the companys brand portfolio have been updated to evince different aspects of the companys technology. SEEQCs visuals evoke a feeling of efficiency, purpose and a close relationship with nature, just as its end-product uses elements of nature to solve classically intractable problems and address the worlds greatest challenges.

The new design and communication are a mirror image of SEEQCs approach to building scalable, re-configurable quantum computers around a family of chips designed to support a host of high-value problems for clients today, said Carlstrm. We want the brand we put forward to show what were really about and to show our ethos in everything we do from the design of our hardware and software to our offices, facilities, website and brand identity.

Partnership with QuantWare

To further advance its technology, SEEQC has partnered with Dutch quantum startup QuantWare. With additional support from the University of Napoli Federico II, the companies will co-develop an advanced Quantum Processor Unit (QPU) with integrated cryogenic digital control logic. This partnership combines SEEQCs proprietary platform with QuantWares scalable QPU design, resulting in the worlds first commercially available platform, capable of overcoming key scalability engineering challenges.

About SEEQC:

SEEQC is developing the first fully digital quantum computing platform for global businesses. SEEQC combines classical and quantum technologies to address the efficiency, stability and cost issues endemic to quantum computing systems. The company applies classical and quantum technology through digital readout and control technology and a unique chip-scale architecture. SEEQCs quantum system provides the energy- and cost-efficiency, speed and digital control required to make quantum computing useful and bring the first commercially-scalable, problem-specific quantum computing applications to market.

The company is one of the first companies to have built a superconductor multi-layer commercial chip foundry and through this experience has the infrastructure in place for design, testing and manufacturing of quantum-ready superconductors. SEEQC is a spin-out of HYPRES, the worlds leading developer of superconductor electronics. SEEQCs team of executives and scientists have deep expertise and experience in commercial superconductive computing solutions and quantum computing. SEEQC is based in Elmsford, NY with facilities in London, UK and Naples, Italy.

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SEEQC Announces Addition of Scientific Advisory Board, Vice President of Engineering and Unveils New Brand Identity - Business Wire

An Australian firm has announced a partnership with a global leader in encryption technology to roll out the nation's first sovereign quantum encryption service.

AUCloud is one of a handful of companies trusted by governments worldwide to host secure sovereign cloud services.

To protect our private data and essential services such as hospitals, electricity and banking, the cloud provider on Wednesday announced a deal with Arqit to provide stronger, simpler encryption.

Genuine sovereign cloud services can protect citizens' data and the content of data centres from being handed over to foreign powers, and help secure critical infrastructure against nosy or malicious hackers.

The recent trilateral alliance between Australia, the United Kingdom and the United States, known as AUKUS, has defence innovation and technology at its heart and aims to lift the allies' game on cyber security, quantum computing, artificial intelligence (AI) and space technology.

"The world needs stronger, simpler encryption, and it is important that allied countries work together," Arqit founder David Williams said.

Arqit's Federated Quantum System (FQS) is designed for allied governments only.

The unique quantum encryption service makes the communications links of any networked device secure against current and future forms of attack - even from a quantum computer.

The market is every connected device, according to Arqit.

As one of Australia's sovereign cloud Infrastructure-as-a-Service (IaaS) providers, AUCloud already serves federal, state and local governments and critical national industries.

Phil Dawson, managing director and co-founder of AUCloud, said the partnership with Arqit would deliver an immediate capability to customers in these and other enterprise sectors, including financial services, intelligence and defence.

Listed on the Australian stock exchange as Sovereign Cloud Holdings (SOV), AUCloud is independently certified to meet Australian Signals Directorate information security standards and handle protected data.

The company is also a member of the Defence Industry Security Program and is "certified strategic" as a cloud provider by the Digital Transformation Agency.

A consortium of Australian government agencies, the Australia National University, and industry partners are working on the supply chain, technical aspects of deployment and planning for long-term funding of the full system across the country.

This first phase of work with Arqit was included in the "Space Bridge" agreement signed by then minister for Industry, Science and Technology Karen Andrews and British High Commissioner Vicki Treadell almost a year ago.

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Sovereign quantum encryption in the cloud - 7NEWS