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Baidu and Alibaba EXIT the Quantum Race, Quantinuum valued at $5B, NVIDIA jobs

Baidu and Alibaba EXIT the Quantum Race, Quantinuum valued at $5B, NVIDIA jobs

Quantum Intelligence 🤖

Bell State
January 22, 2024

Welcome to The Bell State.

Your weekly roundup of the biggest breakthroughs in Quantum Computing.

China Unveils Most Advanced 72-Qubit Quantum Computer 'Origin Wukong'

Launched on January 6 by Origin Quantum, the "Origin Wukong" is a 72-qubit superconducting quantum computer.

Represents a major advancement in China's quantum computing capabilities.
Origin Quantum, established in 2017, is a leader in quantum computing advancements in China.
The company holds the top position in quantum computing patents in China and is ranked sixth globally.

Takeaway: This launch solidifies China's position in the global quantum computing race, showcasing significant technological progress and leadership in quantum computing research.

Baidu and Alibaba Exit the Quantum Race

Baidu and Alibaba have discontinued their quantum computing research.

Baidu's quantum computing research facility donated to Beijing Academy of Quantum Information Sciences.
Alibaba donated its quantum lab to Zhejiang University.
Both companies previously achieved milestones in quantum computing.

Takeaway: The exit of these major tech companies from the quantum computing race could indicate a strategic shift in China's approach to quantum research and development.

Dutch Startup QphoX Secures €8M to Pave the Way for Un-Hackable Quantum Internet

QphoX is a Dutch startup building the world's first quantum modem device, connecting quantum computers across a quantum network.

QphoX raised €8 million for developing quantum modem technology.
The modem will enable communication between quantum computers over optical networks.
The technology supports quantum transduction, crucial for scalability in quantum computing.

Takeaway: This significant investment in QphoX highlights the growing interest in quantum internet technology, positioning the Netherlands at the forefront of quantum innovation.

Honeywell's Quantum Firm, Quantinuum, Valued at $5 Billion After $300 Million Fundraise

Quantinuum, a subsidiary of Honeywell, is now valued at $5 billion.

The company raised $300 million in a funding round led by JPMorgan Chase.
The funds will advance fault-tolerant quantum computers and expand software offerings.
Quantinuum is supported by major companies like Airbus, BMW Group, and HSBC.

Takeaway: The substantial valuation and investment in Quantinuum underscore the increasing commercial and industrial interest in quantum computing technologies.