Latest news with #ScienceApplicationsInternationalCorp
Yahoo
5 days ago
- Business
- Yahoo
Quantum firm Infleqtion raises $100 million, pairs with SAIC for defense sales
By Stephen Nellis SAN FRANCISCO (Reuters) -Quantum computing firm Infleqtion said on Monday it has raised $100 million in venture capital and paired with government services contractor Science Applications International Corp to pursue defense deals. Quantum computing holds the promise of solving problems in biology, chemistry and physics that classical computers would take thousands of years to solve. It is drawing interest - and hundreds of millions of dollars in funding - from technology companies such as Microsoft and Alphabet's Google, as well as dozens of startups. Most quantum computers use chips that must be kept at extremely cold temperatures in cryogenic coolers, making them expensive. Boulder, Colorado-based Infleqtion takes a different approach by beaming lasers at rubidium atoms suspended in a vacuum chamber, a process Infleqtion says lets its computers operate at room temperature. Infleqtion plans to have a modest quantum computer by 2028, but in the meantime is using its technology for other applications, such as providing extremely precise electronic timing signals that can be used by military equipment in conflict zones where GPS signals are jammed. Infleqtion CEO Matt Kinsella told Reuters on Friday that the company generated nearly $30 million in revenue last year. As Infleqtion improves its core quantum technology for timing devices, that work "feeds directly into the (research and development) efforts for the computer," Kinsella said. Infleqtion and the government contractor will look for other applications for Infleqtion's technology, which is the size of about three pizza boxes but expected to shrink dramatically over the next several years. Michael Hauser, vice president and managing partner of SAIC Ventures, said the technology has the potential to replace multiple antennas on military facilities. "You get these antenna farms, and they jam each other. Well, if you've got this new form factor of ... antenna, maybe you don't jam yourself anymore," Hauser told Reuters on Friday. Investors in the current round were Glynn Capital, Morgan Stanley's Counterpoint Global, S32, SAIC and others. Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Quantum firm Infleqtion raises $100 million, pairs with SAIC for defense sales
By Stephen Nellis SAN FRANCISCO (Reuters) -Quantum computing firm Infleqtion said on Monday it has raised $100 million in venture capital and paired with government services contractor Science Applications International Corp to pursue defense deals. Quantum computing holds the promise of solving problems in biology, chemistry and physics that classical computers would take thousands of years to solve. It is drawing interest - and hundreds of millions of dollars in funding - from technology companies such as Microsoft and Alphabet's Google, as well as dozens of startups. Most quantum computers use chips that must be kept at extremely cold temperatures in cryogenic coolers, making them expensive. Boulder, Colorado-based Infleqtion takes a different approach by beaming lasers at rubidium atoms suspended in a vacuum chamber, a process Infleqtion says lets its computers operate at room temperature. Infleqtion plans to have a modest quantum computer by 2028, but in the meantime is using its technology for other applications, such as providing extremely precise electronic timing signals that can be used by military equipment in conflict zones where GPS signals are jammed. Infleqtion CEO Matt Kinsella told Reuters on Friday that the company generated nearly $30 million in revenue last year. As Infleqtion improves its core quantum technology for timing devices, that work "feeds directly into the (research and development) efforts for the computer," Kinsella said. Infleqtion and the government contractor will look for other applications for Infleqtion's technology, which is the size of about three pizza boxes but expected to shrink dramatically over the next several years. Michael Hauser, vice president and managing partner of SAIC Ventures, said the technology has the potential to replace multiple antennas on military facilities. "You get these antenna farms, and they jam each other. Well, if you've got this new form factor of ... antenna, maybe you don't jam yourself anymore," Hauser told Reuters on Friday. Investors in the current round were Glynn Capital, Morgan Stanley's Counterpoint Global, S32, SAIC and others. Sign in to access your portfolio
Washington Post
5 days ago
- Business
- Washington Post
SAIC: Fiscal Q1 Earnings Snapshot
RESTON, Va. — RESTON, Va. — Science Applications International Corp. (SAIC) on Monday reported fiscal first-quarter profit of $68 million. The Reston, Virginia-based company said it had profit of $1.42 per share. Earnings, adjusted for one-time gains and costs, came to $1.92 per share. The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.14 per share.
Yahoo
09-04-2025
- Business
- Yahoo
SAIC Appoints Kathleen McCarthy as New Executive Vice President and Chief Human Resources Officer
RESTON, Va., April 09, 2025 (GLOBE NEWSWIRE) -- Science Applications International Corp. (NASDAQ: SAIC), a premier mission integrator driving our nation's digital transformation across the defense, space, civilian and intelligence markets, is pleased to announce the appointment of Kathleen McCarthy as the company's new Executive Vice President and Chief Human Resources Officer, effective May 12, 2025. In this role, McCarthy will report directly to Chief Executive Officer Toni Townes-Whitley and will spearhead all human resources initiatives, employee engagement strategies and talent acquisition operations at SAIC. She will focus on evolving the workforce strategy to deliver the brightest talent, with the highest capabilities to our government customers to help them achieve their missions. 'Kathleen brings a great depth of experience in cultivating and inspiring exceptional talent which is pivotal in driving both substantial business value and innovation,' said Toni Townes-Whitley, CEO of SAIC. 'Her proven track record of leadership and strategic foresight position her well to further enhance our employee engagement initiatives and lead our efforts in upskilling and developing critical skills within our workforce. I am delighted to welcome Kathleen to SAIC, where her insights and expertise will be invaluable to ensuring we continue to meet the evolving needs of our industry.' McCarthy joins SAIC from GE Aerospace, where she served as Chief Human Resources Officer for the Defense & Systems business. Prior to that, she was Chief Human Resources Officer for GE Aviation and earlier in her GE tenure, she served as Chief Human Resources Officer of GE Digital, leading the business to profitability and defining its vision around the Industrial Internet of Things (IIoT). Her career also includes executive roles at American Express as SVP and Chief Talent Officer, where she led global workforce strategy, and at Thomson Reuters where she led talent management and acquisition. McCarthy began her career at Bain & Company and McKinsey & Company, later heading HR at the tech startup eFinanceWorks. Recognized as a leader in her field, McCarthy is a member of World 50, G100, and The Learning Forum's Executive Council Network. She has also served on the advisory board for CEB Talent Management, now part of Gartner for HR, and is a frequent speaker on talent development and HR best SAIC SAIC is a premier Fortune 500® mission integrator focused on advancing the power of technology and innovation to serve and protect our world. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in mission IT, enterprise IT, engineering services and professional services. We integrate emerging technology, rapidly and securely, into mission critical operations that modernize and enable critical national imperatives. We are approximately 24,000 strong; driven by mission, united by purpose, and inspired by opportunities. Headquartered in Reston, Virginia, SAIC has annual revenues of approximately $7.4 billion. For more information, visit For ongoing news, please visit our newsroom. Media Contact: Kara Ross703-362-6046 A photo accompanying this announcement is available at
