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For the full year of 2023, the company achieved revenue of $358 thousand versus revenue of $136 thousand in 2022. Net loss was Net loss was $29.73 million versus a 2022 loss of $38.59 million a year ago. The company ended the year with cash of about $2.06 million versus $5.308 million in 2022. Their financial report can be seen in the 10K report posted on the SEC website here. April 2, 2024

Nature Magazine Cover of the Issue with IBM's aLDPC Paper Showing the Torus Topologies Used in this Code. Credit: IBM IBM's Research in qLDPC Codes The popular press is buzzing with IBM's announcement that they have published an article about the research of qLDPC (Quantum Low Density Parity Check) codes in Nature magazine. But attentive readers of the Quantum Computing Report will note that we first reported about this last August when the preprint of this paper describing this research was first posted on the arXiv and again this last December in our article about IBM's roadmap. LDPC codes are a [...]

SandboxAQ has unveiled its AQtive Guard platform, designed to tackle the rising threats of AI-driven and Quantum attacks. The platform offers comprehensive cryptography management, enabling enterprises to identify and manage vulnerable cryptographic algorithms and digital keys at an unprecedented scale and granularity. AQtive Guard is the successor to the earlier Sandbox Security Suite product and the functionality of Security Suite is included in AQtive Guard. Key features of the product include the following: Full visibility, monitoring and control of your cryptography Automatic analysis and reporting on your cryptographic security posture  Cryptographic policy management and enforcement Seamless upgrades to new cryptographic protocols [...]

D-Wave Computing Inc. has just reported its Q4 2023 and full year 2023 financial results. While the numbers are important, the highlight of the report for us was that the company now has two customers in regular production usage of their cloud service with two additional ones scheduled to start in a few months. While the other quantum hardware providers have many customers doing experimentation, training or running proof-of-concepts, we are not aware of any other quantum company that has customers using their quantum systems in regular daily production. We will discuss this in more detail later in this article, but [...]

Zapata AI, formerly Zapata Computing, has publicly closed its merger with Andretti Acquisition Corporation and will start trading on the NASDAQ exchange with the symbol ZPTA on Monday, April 1, 2024. Zapata originally started as a quantum software company but has branched out to also work in the generative AI area. They still do work in quantum and indicate that they are leveraging this experience to provide generative AI solutions to companies in industries including telecommunications, financial services, transportation and logistics, biotech/pharmaceutical and life sciences, automotive OEMs, advanced global manufacturing, and defense and government. One of their key accounts is to [...]

Nu Quantum and SoftwareQ are collaborating to develop the theoretical framework a first fault-tolerant quantum computer, sponsored by Innovate UK under the Canada UK Commercialising Quantum Technology Programme: CR&D and National Research Council of Canada under the Industrial Research Assistance Program (NRC IRAP). The companies have received funding of $1.2 million USD and started the project in September 2023 which will run for two years. Led by Dr. Carmen Palacios-Berraquero and co-founded by Dr. Vlad Gheorghiu and Prof. Michele Mosca, the project aims to propose and benchmark practical architectural solutions, addressing the scalability challenge in quantum computing. Specific characteristics that will [...]

Semiconductor Wafer Containing Spin Qubits. Credit: Diraq Although it may first appear that the difference between operating qubits at 15 millikelvin (0.015K) and 1 kelvin doesn't sound like very much, but for quantum computing it actually makes a world of difference. On one hand, the cooling power of the dilution refrigerators are more than an order of magnitude better at the higher temperature. The qubits and the associated control lines generate heat. Even though the heat generated from each qubit is small, it puts a limit on the number of qubits that can be cooled by the dilution refrigerator. For this [...]

The grant was provided by Bpifrance on behalf of the French government as part of the France 2030 initiative. Alice & Bob's partners in this effort include academic partners ENS de Lyon and Mines Paris - PSL. The project, named Cat Factory, will use Alice & Bob's Cat qubit technology which we recently described here which combines a base Cat qubit which virtually eliminates bit flips with an LDPC code to create a much more efficient implementation. To achieve 100 logical qubits, this projects intends to use just 1500 physical qubits that will be fitted into a large dilution refrigerator and [...]

Orange Quantum Systems (OrangeQS) has advanced its roadmap to cater to the burgeoning industrial quantum chip production market, as evidenced by the initial sale of its OrangeQS Industry System to a full-stack quantum computing company. Shipments to first customers is scheduled to start in Q4 of this year. This system is designed to facilitate the testing of 100+ qubit quantum chips, streamlining the chip development process through automated testing at scale. Rather than requiring a new chip to be tested in a full quantum processor, this system will allow the new chip to be tested in this test system at a [...]