dougfinke

Rigetti Computing has announced its Q2 2024 financial results. A quick summary of some key financial metrics comparing Q2 2024 versus Q1 2024 and the year ago quarter of Q2 2023 is shown in the chart below. From a financial standpoint, the company reported a relatively flat quarter with about $3.1 million in revenue for the quarter. But a notable difference is that source of that revenue has changed significantly from the year ago quarter. In Q2 2024, about 99.8% of the revenue came from collaborative research, professional services and materials,and sales of quantum computers while the remainder of the revenue, or [...]

D-Wave has announced its Q2 2024 financial results. A quick summary of some key financial metrics comparing Q2 2024 versus Q1 2024 and the year ago quarter of Q2 2023 is shown in the chart below. The company reported continued Year-over-Year growth in the second quarter. However, there was no sequential growth from the previous quarter as the quantum market, in general, is still in its early phases and quite lumpy. Of the $2.2 million in revenue this quarter, 81% came from QCaaS (Quantum Computing as a Service) and 16% came from Professional Services. The company reiterated their full 2024 year outlook [...]

IonQ has announced its Q2 2024 financial results. A quick summary of some key financial metrics comparing Q2 2024 versus Q1 2024 and the year ago quarter of Q2 2023 is shown in the chart below. IonQ had a strong second quarter with revenues of $11.4 million, substantially above their previous forecast of $7.6 to $9.2 million. They also showed $9.0 million in bookings. Their previous forecast for bookings was $75 to $95 million for the full year. So far, they have achieved $9.3 million for the first half, so they will need strong bookings in the second half of 2024 to [...]

We have reported recently on many developments in fault tolerant computer research with many different codes such as the surface code and q-LDPC (Quantum Low Density Parity Check) being researched. But a big concern about many of these error correction codes is the large overhead they will require in order to achieve a low enough error rate for a usable quantum advantage. For example, several proposed implementations of the surface code would require 1000 physical qubits to create one logical qubit with an acceptable error rate. Recently, we have started see a few efforts to develop codes or technologies that have [...]

The Applied Research Laboratory for Intelligence and Security (ARLIS), based at the University of Maryland has awarded an initial $5.7 million contract to IonQ to design a networked quantum computing system for the Department of Defense (DOD) to enable studying cybersecurity of multi-party quantum computation. This initial award is only for first phase design work on such a system and ARLIS indicates that a potential award of up to $12 million could be awarded in the future for construction, delivery, and maintenance of these systems. This award is funded by the Secretary of the Air Force Concepts, Development, and Management Office [...]

A question we often hear at GQI is “When will we start witnessing quantum advantage where users are regularly relying on quantum technology for commercial use?” The answer to that question relies on two factors. The first is how quickly will the quantum hardware improve? The second is how will quantum algorithms get smarter and more efficient? When those two meet, we will start seeing end users run quantum computing for production applications. A Plethora of QRE Approaches The good news is that we are starting to see more detailed roadmaps from the quantum providers that give us an idea of [...]

At GQI we see a lot of roadmaps from the quantum providers and fully expect that there will be continuing advances in the capabilities of both quantum hardware and quantum software over the next several years. In fact, we believe that we will soon start seeing organizations utilizing quantum technology for production purposes within the next few years. (Some call that Quantum Advantage while others call it Quantum Utility, but in this article we will call it Quantum Production to distinguish it from one-off proof-of-concept experiments versus those running the use cases on a repeated, regular basis.) Although we initially did [...]

In his role as Chief Analyst at Global Quantum Intelligence, David Shaw combines a PhD in physics with years of advising executives in tech, healthcare, energy, and financial services. This understanding of quantum mechanics and the technology life cycle gives him a unique perspective on quantum hardware. In this episode, he explains how many “chips” it will take to build a quantum computer, how far we are from modularity, and why quantum sensing should get more attention. Transcript Veronica: Hello, and welcome to The Quantum Spin by HKA. I’m Veronica Combs. I’m a writer and an editor here at the agency. I [...]

Preeti Chalsani has been named the first Chief Quantum Officer at Intersect Illinois, starting August 14, 2024. Intersect Illinois a statewide economic development organization in the state of Illinois focused on bringing new businesses, jobs, and investment to Illinois. With the announcement of the Quantum Proving Ground with DARPA and the selection by PsiQuantum to locate a U.S. quantum data center in Chicago, the state government has a strong interest in attracting more quantum business development activity in the state. Dr. Chalsani will be leading this effort and will work with government, industry partners, quantum startups, researchers and others to help [...]