dougfinke

Screenshot of GQI's Quantum Tech Investment Tracker By André König At Global Quantum Intelligence, LLC we have the privilege of working on investor due diligence for many quantum startups small and large; currently we have 13 live deals for a total fundraise of approx. $1.5B.This not only speaks to the expertise and quality of our team but also offers us a unique vantage point into the dynamics of raising capital in quantum tech.My takeaway: The obvious is now essential.1️⃣ We see a dramatic capital flight to quantum computing hardware and later stage rounds. While as recently as 18 months ago we [...]

After eight years of intensive review and analysis, the U.S. National Institute of Standards and Technology (NIST) has released the final, approved specifications for the first three Post Quantum Cryptography (PQC) algorithms. The effort start in 2016 with 82 algorithms initially submitted with 69 algorithms accepted for further review. And after three rounds of analysis, NIST has selected the first three algorithms for final approval. The three algorithms include the following: Specification NumberNameBased UponUsage TypeFIPS 203, Module-Lattice-Based Key-Encapsulation Mechanism StandardML-KEMCrystals-KyberKey EncapsulationFIPS 204, Module-Lattice-Based Digital Signature StandardML-DSACrystals-DilithiumDigital SignatureFIPS 205, Stateless Hash-Based Digital Signature StandardSLH-DSASPHINCS+Digital Signature For enterprise Chief Information Officers (CIO) and [...]

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 [...]