Latest news with #QuantumBenchmarkingInitiative
Yahoo
a day ago
- Business
- Yahoo
SEEQC Announces Collaboration With IBM Under DARPA's Quantum Benchmarking Initiative
Collaboration Boosts New York's Quantum Ecosystem to Advance U.S. Quantum Computing Leadership ELMSFORD, N.Y., June 11, 2025 /PRNewswire/ -- SEEQC, a leader in scalable and energy-efficient quantum technologies, today announced a strategic technical collaboration with IBM as part of the U.S. Defense Advanced Research Projects Agency's (DARPA) Quantum Benchmarking Initiative (QBI). The collaboration will explore integrating SEEQC's Single Flux Quantum (SFQ) chip-based control layer technologies with IBM's leading-edge quantum systems architecture. SEEQC envisions using its SFQ technologies to shrink and consolidate external racks of classical control hardware by transferring certain elements to a system-on-a-chip that operates adjacent to quantum chips within an ultra-cold dilution refrigerator. "SEEQC's work with IBM highlights both companies' contributions to the U.S. Government's investments into large-scale quantum computing capabilities," said John Levy, CEO and Co-Founder of SEEQC. "Our leading SFQ chip-based digital control technology improves the energy efficiency and functionality of quantum computing systems, and we're excited to build on our team's research." While SEEQC explores how SFQ control chips could enhance quantum system performance and reduce energy use in future systems, IBM will continue to progress on its IBM Quantum Development Roadmap, including its work to deliver a large-scale, fault-tolerant quantum computer. "IBM is on track with our IBM Quantum Roadmap to realize a fault-tolerant quantum computer by 2029," says Jay Gambetta, IBM Fellow and VP, IBM Quantum. "Controlling and scaling such large-scale quantum systems is a difficult engineering problem with many unresolved research questions. We are excited to collaborate with SEEQC, investigate these questions, and accelerate the progress toward our 2029 goal." While both companies maintain a global presence, SEEQC and IBM are deeply rooted in New York State's quantum ecosystem. SEEQC designs and tests its SFQ chips at its headquarters in Elmsford, while the IBM Quantum team primarily works out of the Thomas J. Watson Research Center in Yorktown Heights. "This collaboration between IBM and SEEQC showcases the strength of Westchester County's and New York State's ecosystem of expertise in quantum information sciences," said Deborah Novick, Director at the Westchester County Office of Economic Development and co-lead of the NY QUANTUM Consortium. "I am excited to see how the two organizations help advance quantum computing as part of DARPA's QBI." The Quantum Benchmarking Initiative reflects DARPA's broader mission to develop rigorous performance metrics and enable the design of practical, useful quantum computers for national and global challenges. The SEEQC-IBM collaboration exemplifies how New York's quantum ecosystem contributes to the entire "commercialization continuum" — from fundamental research and chip fabrication, to system integration and deployment. About SEEQCSEEQC is pioneering energy-efficient, scalable quantum computing through its proprietary Single Flux Quantum (SFQ) technology. Headquartered in Elmsford, New York, SEEQC designs and manufactures next-generation quantum control systems that integrate classical and quantum components on a single chip. Learn more at Media Contacts: SEEQCDavis Richardson, Paradox Public Relations dr@ IBMChris Nay, IBM Communications cnay@ View original content: SOURCE SEEQC Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
a day ago
- Business
- Yahoo
SEEQC Announces Collaboration With IBM Under DARPA's Quantum Benchmarking Initiative
Collaboration Boosts New York's Quantum Ecosystem to Advance U.S. Quantum Computing Leadership ELMSFORD, N.Y., June 11, 2025 /PRNewswire/ -- SEEQC, a leader in scalable and energy-efficient quantum technologies, today announced a strategic technical collaboration with IBM as part of the U.S. Defense Advanced Research Projects Agency's (DARPA) Quantum Benchmarking Initiative (QBI). The collaboration will explore integrating SEEQC's Single Flux Quantum (SFQ) chip-based control layer technologies with IBM's leading-edge quantum systems architecture. SEEQC envisions using its SFQ technologies to shrink and consolidate external racks of classical control hardware by transferring certain elements to a system-on-a-chip that operates adjacent to quantum chips within an ultra-cold dilution refrigerator. "SEEQC's work with IBM highlights both companies' contributions to the U.S. Government's investments into large-scale quantum computing capabilities," said John Levy, CEO and Co-Founder of SEEQC. "Our leading SFQ chip-based digital control technology improves the energy efficiency and functionality of quantum computing systems, and we're excited to build on our team's research." While SEEQC explores how SFQ control chips could enhance quantum system performance and reduce energy use in future systems, IBM will continue to progress on its IBM Quantum Development Roadmap, including its work to deliver a large-scale, fault-tolerant quantum computer. "IBM is on track with our IBM Quantum Roadmap to realize a fault-tolerant quantum computer by 2029," says Jay Gambetta, IBM Fellow and VP, IBM Quantum. "Controlling and scaling such large-scale quantum systems is a difficult engineering problem with many unresolved research questions. We are excited to collaborate with SEEQC, investigate these questions, and accelerate the progress toward our 2029 goal." While both companies maintain a global presence, SEEQC and IBM are deeply rooted in New York State's quantum ecosystem. SEEQC designs and tests its SFQ chips at its headquarters in Elmsford, while the IBM Quantum team primarily works out of the Thomas J. Watson Research Center in Yorktown Heights. "This collaboration between IBM and SEEQC showcases the strength of Westchester County's and New York State's ecosystem of expertise in quantum information sciences," said Deborah Novick, Director at the Westchester County Office of Economic Development and co-lead of the NY QUANTUM Consortium. "I am excited to see how the two organizations help advance quantum computing as part of DARPA's QBI." The Quantum Benchmarking Initiative reflects DARPA's broader mission to develop rigorous performance metrics and enable the design of practical, useful quantum computers for national and global challenges. The SEEQC-IBM collaboration exemplifies how New York's quantum ecosystem contributes to the entire "commercialization continuum" — from fundamental research and chip fabrication, to system integration and deployment. About SEEQCSEEQC is pioneering energy-efficient, scalable quantum computing through its proprietary Single Flux Quantum (SFQ) technology. Headquartered in Elmsford, New York, SEEQC designs and manufactures next-generation quantum control systems that integrate classical and quantum components on a single chip. Learn more at Media Contacts: SEEQCDavis Richardson, Paradox Public Relations dr@ IBMChris Nay, IBM Communications cnay@ View original content: SOURCE SEEQC
Mint
3 days ago
- Business
- Mint
IBM has a roadmap to a ‘fault-tolerant' Quantum computer by 2029
International Business Machines said Tuesday it has a plan for building what it calls the world's first large-scale, fault-tolerant quantum computer at its New York data center before the end of the decade. The computer, called IBM Quantum Starling, will be housed in its Poughkeepsie, N.Y., center and have 20,000 times the computational power of today's quantum computers, the tech giant said. 'I feel more comfortable than ever that a fault-tolerant quantum computer will exist before the end of this decade," said Jay Gambetta, IBM's vice president of quantum. 'We are putting error-correction in detail on our roadmap because we believe now we've solved all the scientific challenges." Quantum computers are susceptible to instability, requiring quantum error correction—a technique that identifies and addresses errors in computations—and more broadly, quantum fault-tolerance, the ability to operate even with errors present. Among the companies racing to build a practical quantum computer, from tech giants like Microsoft and Google to quantum companies like D-Wave, Quantinuum and IonQ, IBM isn't the only one that has promised a fault-tolerant computer by 2029. Others have recently made progress in the area of error correction, including Amazon, with its Ocelot quantum computing chip, which it said can reduce quantum errors by up to 90%. Google is also focused on error correction with its Willow chip. Quantum computers store information as quantum bits—otherwise known as qubits—which can exist as a zero and a one at the same time and so are much richer objects than the binary digits that ordinary computers use. That makes them capable of much more powerful types of computations than ordinary computers, and could mean they can help engineer materials at the molecular level, or even crack the defenses used to secure the internet. But one of quantum computing's major problems is that qubits generate errors as they tackle problems. They're fragile, and susceptible to 'noise," essentially small environmental disturbances that can force them out of their quantum state. That's made the quest to build a so-called fault-tolerant quantum computer a priority for tech giants and quantum companies alike. Gambetta said IBM's confidence in its 2029 timeline stems from two recent developments: further advances in a new approach to reducing errors called 'quantum low-density parity check" or qLDPC codes, plus a technique for identifying and correcting errors in real-time using conventional computing. Additionally, quantum computing startup SEEQC is expected to announce a collaboration with IBM this week as part of the U.S. Defense Advanced Research Projects Agency's Quantum Benchmarking Initiative, which is aimed at evaluating quantum companies' ability to achieve utility-scale operation. As part of the partnership, the two companies will work to shrink and consolidate IBM's racks of control hardware by transferring some control and readout elements directly onto a chip. SEEQC manufactures its own quantum chips, known as integrated QPUs, in a factory in Elmsford, N.Y. IBM is releasing more detailed plans for its large-scale quantum computer at this point because it hopes to spur developers' interest in creating quantum algorithms—a key part of the software that will run on quantum computers. That's critical to achieving a return on investment for quantum computers, a metric that matters to businesses, Gambetta said. But, at this point, it's not clear how IBM's breakthroughs 'translate into tangible business value," and the transformative potential of fault-tolerant quantum computers is still speculative, said Chirag Dekate, an analyst at IT research and consulting firm Gartner. IBM's plans are also light on details about its new quantum computer's commercial availability, and specific dates for when its error-corrected systems will be released, Dekate said. In response, IBM asserted that it has the most detailed roadmap and plans for commercialization in the industry. 'This is inherently hard to do because quantum innovation has many moving parts," Dekate said. 'The reality in quantum is that we are not yet at the ChatGPT-like moment where the technology, algorithms and impact become visceral and undeniable." At the same time, the comprehensive nature of IBM's plans to build its fault-tolerant quantum computer is worthy of note, said Heather West, an analyst at International Data Corp. IBM's plans should serve as a wake-up call to businesses and the tech community to pay attention to the speed at which quantum computing is advancing, West added. 'When you hear this announcement by IBM, as well as others by other hardware vendors, you realize that this is a real technology, and it's coming to fruition as we speak," she said. Write to Belle Lin at and Isabelle Bousquette at
Yahoo
28-05-2025
- Business
- Yahoo
D-Wave or Rigetti: Which Quantum Hardware Stock Should You Choose?
D-Wave Quantum QBTS and Rigetti Computing RGTI, both with their "hardware-first" approach in quantum computing, have been in the spotlight in recent times. Both companies recently shared their first-quarter 2025 updates. D-Wave Quantum posted a 61% jump in first-quarter commercial revenues and demonstrated its 360-qubit Advantage2 prototype, signaling momentum in hybrid quantum-classical systems. Rigetti Computing, on the other hand, has been gaining from research and government-backed projects. The company advanced to Stage A of DARPA's Quantum Benchmarking Initiative, secured a $5.48M AFOSR grant to improve chip fabrication, and is part of several UK Quantum Mission awards to enhance error correction. As these two companies pursue different paths, one commercial and one research-driven, it's an ideal time for investors to take a closer look at long-term positioning in the quantum space. Growing Hardware Sales Drive Margins for QBTS: D-Wave Quantum reported first-quarter 2025 revenues of $15 million, a staggering 509% increase from $2.5 million in the year-ago period. This leap was primarily driven by the sale of the Advantage2 annealing quantum system to Julich Supercomputing Center, which contributed approximately $12.6 million to the top line. The company also demonstrated strong operational leverage. GAAP gross profit soared to $13.9 million from just $1.7 million a year earlier, while non-GAAP gross profit reached $14 million compared to $1.9 million in the prior-year quarter. These gains elevated D-Wave Quantum's GAAP gross margin to 92.5%, up from 67.3%, and non-GAAP gross margin to 93.6%, up from 76.6%. Net Loss and Adjusted EBITDA Loss Significantly Narrow: D-Wave Quantum posted a first-quarter 2025 net loss of $5.4 million, or 2 cents per share, its lowest since going public in 2022 and a sharp improvement from a loss of $17.3 million (11 cents per share) in the year-ago quarter. Adjusted EBITDA loss narrowed by 53% year over year to $6.1 million in the last-reported quarter. These improvements reflect greater operational efficiency and position D-Wave on a clear path toward profitability with less capital than many of its quantum computing peers. Robust Cash Position With No Short-term Debt: At the end of March 2025, D-Wave had $304.3 million in cash and also repaid its secured term loan in the first quarter of 2024. The company's debt-to-capital ratio dropped to 12.9%, down from 32.7% in the fourth quarter of 2024, highlighting a significantly improved capital structure. The company also raised $146.2 million through equity in the first quarter and retained $37.8 million in issuance capacity under its equity line of credit. This strong liquidity position provides strategic flexibility and supports ongoing investments in R&D and go-to-market initiatives. Image Source: Zacks Investment Research Selection for DARPA's Quantum Benchmarking Initiative: Rigetti was selected for Phase A of DARPA's Quantum Benchmarking Initiative, standing out among over 100 applicants as one of only three superconducting quantum companies chosen, alongside International Business Machines IBM and Hewlett Packard HPE. The six-month, $1 million award will support Rigetti's work on a scalable quantum computing concept that combines its multi-chip architecture with error correction codes. Success in this phase could lead to larger future funding and greater industry recognition, reinforcing Rigetti's role in building next-generation, fault-tolerant quantum systems.$5.48M AFOSR Award to Advance Chip Fabrication: Rigetti secured a $5.48 million award from the Air Force Office of Scientific Research (AFOSR) to develop its Alternating-Bias Assisted Annealing (ABAA) chip fabrication technology. Leading a consortium with top universities and labs, Rigetti aims to reduce defects in superconducting qubits and improve chip performance. This work is key to building more reliable and scalable quantum processors, strengthening Rigetti's position in next-generation quantum hardware.$35M Strategic Investment by Quanta Computer Boosts Liquidity: Quanta Computer's $35 million equity investment at $11.59 per share boosts Rigetti's cash position to $237.7 million as of April 30, 2025. This funding strengthens Rigetti's balance sheet, extends its operating runway, and enables accelerated R&D without near-term dilution. Image Source: Zacks Investment Research Year to date, shares of D-Wave Quantum have surged 123.8%, handily outperforming the broader Internet Software industry's 4.9% gain and the S&P 500's 1.3% dip. Contrastingly, Rigetti Computing underperformed all three with an 8.2% decline in its stock price during the same period. Rigetti has underperformed year to date due to a steep 51% year-over-year decline in first-quarter revenues, which were also below expectations, highlighting weak demand for its quantum solutions despite a headline profit. Image Source: Zacks Investment Research D-Wave Quantum, a Zacks Rank #2 (Buy) stock, presents a stronger investment case at this moment than Rigetti Computing, a Zacks Rank #4 (Sell) stock. D-Wave recorded a 56% year-over-year revenue jump in the first quarter, record bookings and rising enterprise adoption, driven by its hybrid solver services and momentum toward breakeven. In contrast, Rigetti reported a 51% year-over-year revenue decline and projected flat-to-lower revenues for the full year, reflecting ongoing customer transition and slower-than-expected uptake of its quantum hardware. While RGTI has secured significant government and strategic funding, including DARPA and AFOSR grants and a $35M investment from Quanta Computer, its current financial performance lags materially. As such, QBTS' superior growth trajectory, commercialization pace and strong customer adoption position it as the better buy right now. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report International Business Machines Corporation (IBM) : Free Stock Analysis Report Hewlett Packard Enterprise Company (HPE) : Free Stock Analysis Report Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report D-Wave Quantum Inc. (QBTS) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
22-05-2025
- Business
- Yahoo
Why Rigetti Computing, Inc. (RGTI) Crashed Today
We recently published a list of . In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against other firms that are drenched in red today. Ten companies pulled back on Wednesday, booking hefty losses during the trading session, with investor sentiment weighed down by a flurry of government policies and dismal earnings performance in the last quarter of the year. Meanwhile, the Dow Jones fell by 1.91 percent, the S&P 500 declined by 1.61 percent, and the tech-heavy Nasdaq dropped 1.41 percent. In this article, let us take a look at the 10 companies that led a poor performance during the day and explore the reasons behind their drop. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume. A close up of an engineer typing at a quantum computing station in a modern office space. Rigetti Computing dropped for a second day on Wednesday, losing 8.05 percent to close at $10.96 apiece as investors continued to take profits following its retest of the $12 level earlier this week. In recent news, the company reported a 52-percent decline in revenues for the first quarter of the year, at $1.47 million versus the $3.05 million registered in the same period last year, as loss from operations expanded by 30 percent to $21.6 million from $16.58 million year-on-year. Total operating expenses grew by 22 percent to $22.07 million from $18.08 million in the same comparable period. Earlier this year, Rigetti Computing, Inc. (NASDAQ:RGTI) announced a number of projects from the US and UK governments, reflecting its stronghold in the quantum computing sector. This includes its participation in DARPA's Quantum Benchmarking Initiative, grant of AFOSR award to further develop breakthrough chip fabrication technology, as well as three Innovate UK Quantum Mission pilot awards to advance superconducting quantum computing. Overall, RGTI ranks 7th on our list of firms that are drenched in red today. While we acknowledge the potential of RGTI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RGTI but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
