dougfinke

Quantum Machines and QuEra Computing are two companies that are working on developing practical quantum computers. Quantum Machines provides quantum control solutions that can orchestrate quantum and classical operations, while QuEra Computing offers neutral atom quantum computing platforms that can solve various problems using a flexible programmable geometry approach. The two companies have received an innovation grant from the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation to jointly develop over a 24 month period a photonic control unit (PCU) that can significantly accelerate the computational power of quantum computers. The PCU is based on QuEra’s advanced photonic microchips and Quantum [...]

Rigetti Computing achieved revenue in Q3 of $3.1 million versus $3.3 million in Q2 2023 and $2.8 million in Q3 of 2022. Operating costs were $19.1 million in Q3 versus $18.9 million in Q2 and $33.3 million in Q3 of 2022. This year over year decrease was largely due to a reduction in stock compensation expense along with a company reduction in force implemented earlier this year. Loss from Operations was $16.8 million in Q3 versus $16.2 million in Q2 and $31.3 million in Q2 2022. The company ended the quarter with $110 million in cash, cash equivalents, and available-for-sale investments [...]

D-Wave Quantum Inc. has reported its Q3 results and said it achieved revenue of $2.56 million in Q3 compared to $1.71 million in Q2 and $1.69 million a year ago in Q2 2023. Operating expenses decreased to $19.9 million in Q3 from the $21.6 million the company had in Q2 and compared to $16.2 million in Q2 2023. Adjusted EBITDA loss was $11.6 million versus $4.9 million in Q2. The company ended the quarter with $53.3 million in cash, the highest balance ever held by the company. The company started the quarter with $7.5 million in cash but raise approximately $62 [...]

The UK quantum ecosystem met in London on 2 Nov for the UK Quantum Technology Showcase, its ninth such annual gathering. This vibrant event had much to tell about how the priorities of the influential and much copied UK National Quantum Technology Programme are evolving as it prepares for its second decade.  The increasing scale of the event (1200 delegates and 80 exhibitors, up from 1000 and 67 in 2022) was hosted this year in a notably more professional ‘trade show’ format [1]. Less emphasis now on physical lab demonstrators, more on marketing stands. As Prof Dominic O’Brien (UK QCS Hub [...]

By Dr David Shaw, GQI Chief Analyst This week Photonic Inc, a Vancouver-based quantum startup, has announced details of the new quantum architecture it has been developing in stealth for the last seven years. It also announced that it has closed its latest $100M funding round, most strikingly with Microsoft Corporation as a prominent new investor. Photonic Inc and Microsoft have also announced a strategic collaboration aimed both at bringing this new technology to Microsoft Quantum Azure Elements, and also for its wider exploitation as a quantum networking technology. Taken together, GQI views these as the most significant developments so far [...]