Latest news with #OQC
Times
23-07-2025
- Business
- Times
UK firms in quantum leap for commercial use of supercomputers
Two British tech companies have made error-corrected quantum computing available in a commercial data centre for the first time. The collaboration between Oxford Quantum Circuits (OQC) and Riverlane means that early quantum adopters such as investment banks and security and defence companies can test their quantum algorithms securely on their own data and potentially gain an advantage over competitors. Gerald Mullally is chief executive of the Reading-based OQC, which has built a type of quantum computer using 'superconducting circuits'. He said the integration with Riverlane, a Cambridge firm that is a world leader in the correction of processing errors, would accelerate the time it takes for quantum computers to become commercially useful. • What is quantum computing? Our science editor tries to explain At present, the computers can run thousands of operations before errors overwhelm them. OQC plans to reach millions of operations by 2028, followed by billions in 2031, which would enable quantum chemistry, followed by trillions of operations in 2034, where current methods of encryption can be broken. 'One of the key things we need to do collectively is get those errors down, and [putting together] what Riverlane has created with our architecture … accelerates that path towards 2028 and when [the technology] unlocks commercial value,' Mullally said. Customers of the 29,000 sq m data centre in Reading run by CenterSquare, a Texas-based operator, can pay to use the three OQC quantum computers based there to test their quantum algorithms on their own data, in a secure way. The likely users are understood to include global banks, social media firms and security groups. 'The reason businesses are using the technology is that they are understanding where it is, they are refining their quantum algorithms and, on that basis, they will be first to [gain a] commercial advantage when the hardware has a low enough error rate,' said Mullally. Their experience with AI, he said, had forced businesses 'to think about future compute much more seriously'. International companies such as investment banks already employ large teams of quantum computer software specialists, who are writing and testing trading algorithms on these early systems. 'They know what it means for derivative pricing, arbitrage, deep hedging or fraud detection. They are largely proprietary algorithms that give them commercial advantage,' Mullally said. OQC, which was founded by Oxford University physicists in 2017, co-located its quantum computers at the data centre over two years ago, but this will be the first time it has integrated them with error-correction systems to improve their performance. It said that, initially, Riverlane's technology would run on a digital twin of its quantum system to validate its error-correction routines, before integrating it into OQC's hardware. Steve Brierley, founder and chief executive of Riverlane, said: 'Quantum computing gives you an exponential advantage. It is not a little bit better than classical computing; it is hundreds of millions times better than the previous generation.' • Riverlane aims to be the next Arm with its quantum computer chip As an example, he said that by 2028, when a quantum computer should be able to carry out millions of tasks before being overwhelmed, the same processing power would require 'a billion-trillion GPUs' — the circuits used in existing computers to handle heavy computational tasks. 'That is breakthrough capability and anyone who isn't using that is going to get left out very, very quickly,' said Brierley. The government has committed £500 million to help develop Britain's quantum computing industry — money that will be invested over three years from next April. An additional £170 million has been allocated for quantum development through its 'AI growth zones'. This national quantum strategy has set achieving one million error-corrected quantum operations by 2028 as its target. Brierley welcomed the prominence that quantum computing was given in the government's industrial strategy, as well as the cash. 'It is key that that gets spent quickly and doesn't get spread out across many small projects, but really goes after the big, key industrial scale problems.' Mullally added that while other countries, including in Europe, were investing more, Britain had established a lead in the 2010s, including a strong talent base, that it can still build on. But he warned against dithering. 'The task now is to get on with it. It is about pace, the next three years are absolutely critical.'
Telegraph
19-05-2025
- Business
- Telegraph
Former GCHQ chief joins Oxford quantum start-up amid race against China
The former head of GCHQ has joined the board of an Oxford quantum computing start-up as Britain vies with China and the US for an edge developing the cutting-edge supercomputers. Oxford Quantum Circuits (OQC) has appointed Sir Jeremy Fleming, who led the spy agency until 2023, as a director. The start-up has raised more than £100m to build a fleet of advanced quantum computers, some of which are already being tested by customers. Its plans pit it against US technology giants including Google and IBM, which are working on their own quantum machines, and China, where Beijing is directing efforts to develop its own version of the technology. Quantum computing aims to exploit the properties of quantum physics to develop machines that are far superior to current, classical supercomputers. So far, these computers have had only limited use cases and are prone to errors, but there are hopes they could help revolutionise scientific study, finance and drug discovery. The technology is also the subject of national security scrutiny, given these computers could in theory be used to crack the world's most advanced encryption algorithms, presenting a hacking threat if used by a hostile state. Sir Jeremy was appointed to lead GCHQ, the UK's signals intelligence agency, in 2017, heading up the organisation for six years. He previously worked at MI5 on counter-terrorism and led its security efforts for the London Olympics. His appointment shows the keen interest the national security establishment has taken in the development of quantum technology. Gerald Mullaly, interim chief executive of OQC, said: 'We are absolutely delighted that Sir Jeremy is joining our board. It reinforces the absolute significance of quantum computing to national security and defence, not only in terms of our focus on those sectors, but also for the UK and the country's economic resilience.' The UK has pledged to spend £2.5bn developing quantum computing by 2033, although this is eclipsed by the estimated £11bn that China has confirmed it is spending on the technology. The US innovation agency Darpa, meanwhile, has said it plans to spend $1bn acquiring a quantum computer over the next decade. There are fears in the industry that UK funding for the nascent technology could come under pressure from Rachel Reeves's upcoming spending review. OQC has built and operates several quantum computers, including the only quantum computer in the UK in a data centre. Mr Mullaly said he believed the company would have a quantum computer by 2028 that could run millions of quantum operations at once and far surpass the capabilities of any traditional supercomputer on the planet. Crucial applications could include cyber defence, with a quantum computer able to spot tiny anomalies that traditional computer systems would miss. The computers could also be used for fraud detection, helping banks better block billions of pounds in false transactions.
