Quantum Leap: Palo Alto Networks, IBM to launch quantum-safe readiness solution

Welcome to the latest edition of “Quantum Leap” where The Fly decodes news and activity in the quantum computing space.

POST QUANTUM READINESS: Palo Alto Networks (PANW) announced a plan with IBM (IBM) to offer a new quantum-safe readiness solution designed to help enterprises identify cryptographic exposure, understand quantum-computing related risks, and accelerate their transition toward quantum-safe security. By combining IBM’s quantum safe transformation services with the foundational network-level cryptographic intelligence from Palo Alto Networks security platforms, the new solution will give customers a view of their cryptographic posture across hybrid environments, enabling them to accelerate their readiness for the post-quantum era. Anand Oswal, EVP, network and AI security products at Palo Alto Networks said, “Our customers need a comprehensive, practical roadmap to a quantum-safe future and the experts to help them execute it. This collaboration provides just that by integrating our platform’s deep cryptographic visibility and unique cipher translation capabilities with IBM’s renowned quantum-safe services. Our cutting-edge solution will be able to immediately identify an organization’s risk from a cryptographically relevant quantum computer and apply controls to protect their most vulnerable assets today, buying them critical time to execute a full migration.”

CBO TRANSITION: IonQ (IONQ) announced that Scott Millard will join the company as its new chief business officer reporting to IonQ chairman and CEO Niccolo de Masi. Millard assumes his role from Rima Alameddine, who will be pursuing other opportunities and will remain in an advisory capacity during a transition period.

GUIDANCE: Sealsq (LAES) reaffirmed its full year 2025 revenue guidance of $17.5M to $20M, representing expected full-year growth of 59% to 82% over full year 2024. Looking ahead, Sealsq anticipates strong acceleration in 2026, forecasting 50% to 100% revenue growth for the year as compared to full year 2025, driven by: the full effect of newly launched PQC chips; complete consolidation of IC’ALPS operations and ramp-up of Quantix Edge revenues. Carlos Moreira, CEO of Sealsq, commented, “Our 2025 guidance and expectations for significant growth for 2026 underscore the strength of our commercial strategy, technology roadmap, and market position. We are well-positioned to capture growing demand from governments, enterprises, and critical industries for secure, quantum-ready infrastructure. Backed by a robust financial foundation, SEALSQ is focused on scaling production, accelerating R&D, and expanding our global footprint, solidifying our role as a leader in the emerging quantum-security ecosystem.”

M&A: IonQ announced it has entered into a definitive agreement to acquire Skyloom Global. With almost 90 terminals delivered for SDA missions by 2025, Skyloom has demonstrated scalable production of OCT hardware. Post-close, Skyloom CEO Marc Eisenberg will report to Frank Backes, president of quantum infrastructure at IonQ. IonQ expects this deal to close following the completion of standard regulatory approvals.

QUANTUM ALGORITHMS: Nvidia (NVDA) announced that Riken is integrating Nvidia GB200 NVL4 systems with two new supercomputers in Japan; one built for AI for science and the other for quantum computing. The first system will deploy 1,600 Nvidia Blackwell GPUs, using the GB200 NVL4 platform and interconnected by Nvidia Quantum-X800 InfiniBand networking, as part of Riken’s AI for science initiative. The system will advance research in areas such as life sciences, materials science, climate and weather forecasting, manufacturing and laboratory automations. The second system, dedicated to quantum computing, will feature 540 Nvidia Blackwell GPUs — also using the GB200 NVL4 platform and interconnected by Nvidia Quantum-X800 InfiniBand networking — to accelerate research in quantum algorithms, hybrid simulation and quantum-classical computing methods. “RIKEN has long been one of the world’s great scientific institutions, and today it stands at the forefront of a new era in computing,” said Ian Buck, vice president of hyperscale and high-performance computing at Nvidia . “Together, we’re helping Japan build the foundation for sovereign innovation that will drive breakthroughs to solve the world’s most complex scientific and industrial challenges.”

ROOT OF TRUST: Sealsq announced the upcoming launch of a U.S.-based post-quantum root of trust, set to go live on Friday, November 21. This sovereign infrastructure is designed to enable American enterprises and government agencies to issue, manage, and validate quantum-resistant digital identities and PKI services entirely on U.S. soil. The new platform aims to bolster national cybersecurity and digital sovereignty by delivering locally controlled, quantum-secure certificate issuance, lifecycle management, and hardware-anchored device provisioning for IoT, industrial control systems, telecommunications, and cloud environments.

EARNINGS RECAP: Quantum Computing (QUBT) reported third quarter results on Friday, noting an increase in revenue driven by increases in the number of, size of and level of effort performed on research and development services and custom hardware contracts. The company also started to recognize revenue for cloud-based access to the Dirac-3 quantum optimization system during the three months ended September 30. Yuping Huang, interim CEO of QCi, commented, “The third quarter marked another important step forward for QCi as we strengthened our balance sheet, deepened commercial and government relationships, and advanced our roadmap toward scalable quantum and photonic manufacturing. Revenues increased 280% year-over-year for the three months ended September 30, 2025, reflecting our sales progress and increasing demand for our products, including a recent sale to a top 5 U.S. bank. We ended the third quarter with $352 million in cash and $461 million in investments, and subsequent to the quarter raised an additional $750 million, giving us a substantial liquid position of over $1.5 billion today to execute our long term growth strategy. Our integrated photonic approach continues to differentiate QCi as we work to bring practical quantum technologies out of the lab and into the hands of people. We remain focused on technical execution, strategic hiring, and thoughtful scaling of our foundry and quantum systems to meet growing global demand.” Lake Street lowered the firm’s price target on Quantum Computing to $16 from $24 and reiterated a Buy rating on the shares. While the firm believes shares can work higher as investors better appreciate the company’s revenue ramp and continue to look for exposure to this greenfield sector, it is lowering its price target to reflect the broader multiple compression that has occurred in the quantum computing sector.