Quantum Leap: Quantinuum may fetch $10B valuation

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

$10B VALUATION: Honeywell (HON) and other backers of Quantinuum are considering raising money at a valuation of around $10B for the quantum computing company, people familiar with the matter told Bloomberg’s Liana Baker, Kiel Porter and Ryan Gould. Nvidia (NVDA) is among those that have been approached about potentially investing, the report noted. Talks have taken place with current Quantinuum investors, as well as potential new backers, over a fresh injection of capital, with the size of the fundraising expected to run into the hundreds of millions of dollars, the authors said.

COLLEGE COLLABORATOR: Rigetti Computing (RGTI) has announced a new collaboration with Montana State University, or MSU, to advance quantum computing research and innovation. Through the new collaboration, Rigetti and MSU intend to collaborate on a variety of initiatives, including research projects related to quantum hardware and hybrid quantum systems, workforce development activities, and co-development and testing of enabling technologies and quantum system components. Rigetti may also support QCORE by providing strategic and technical input on its research and program development, offering workforce training opportunities, and supporting regional talent development, among other efforts to bolster the center. The Novera QPU is a 9-qubit quantum processing unit based on Rigetti’s Ankaa-class architecture, featuring tunable couplers and a square lattice for dense connectivity and fast two-qubit operations. The Novera QPU is manufactured in Rigetti’s Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. “We congratulate MSU on this exciting milestone and look forward to supporting Montana’s vibrant quantum computing ecosystem. Hands-on access to quantum computing technology is key for not only quantum computing research, but also for workforce development and education. Rigetti is proud to support QCORE, and we look forward to growing Montana’s quantum capabilities together,” commented Subodh Kulkarni, Rigetti CEO.

TRAPPED-ION IP: IonQ (IONQ) announced significant advancements in its intellectual property portfolio. This is highlighted by the issuance of new U.S. patents that further its technology in trapped-ion quantum computing. These new patents contribute to IonQ’s IP estate, which now totals over 1,000 licensed, owned, or controlled patents as well as patent applications. This patent enables portable quantum memory packages to store and connect photons to help build secure, long-distance quantum communication networks. This patent relates to a quantum repeater comprising quantum memories configured to receive a photon to be stored in the quantum memories or provide a photon to a recipient outside of the outer package. Quantum memories provide a method of receiving, storing, and providing quantum information. In some cases, quantum memories may be deployed for use in large-scale optical fiber networks and/or quantum entanglement networks, for example as quantum repeaters, that store and effectively connect distributed entangled particles to provide secure, long-distance communications. This other patent relates to a quantum memory device comprising a 3D photonic structure configured to transport light between an optical fiber and the quantum memories, wherein the 3D photonic structure comprises photonic waveguide layers that have been photonically coupled via a self-aligned fabrication process. Accurate 3D alignment of multiple photonic materials may be obtained via self-aligned fabrication processes of this disclosure without the need for finely tuned alignment procedures. “IonQ’s robust and growing portfolio of patents is a direct result of the strategy set forth years ago, which entails developing and owning quantum technologies across multiple industries and applications,” said Niccolo de Masi, chairman and CEO of IonQ. “These patents position IonQ to continue to develop scalable, high-performance, cost-effective systems that accelerate the timeline for unparalleled commercial quantum advantage.”

QIDO: Mitsui, QSimulate and Quantinuum announced the launch of a new quantum-integrated chemistry platform Quantum-Integrated Discovery Orchestrator, or QIDO. This platform aims to reduce the time and cost of developing new drugs and materials. QIDO accelerates research and development through chemical reaction modeling and combines classical computing and quantum computing. Built for commercial impact, QIDO streamlines quantum-classical hybrid workflows and helps companies make decisions earlier in the development process. The platform is designed to support research across an array of chemistry-based fields, including advanced materials design, clean energy, and drug development. QIDO integrates QSimulate’s software “QSP Reaction,” which enables calculations on the scale of thousands of atoms using the classical quantum chemistry methods and techniques. QIDO also integrates with Quantinuum’s “InQuanto” software, which interfaces with quantum emulators and Quantinuum Systems hardware. InQuanto achieves up to 10 times higher accuracy in simulations of complex molecules and materials compared to open-source software. Rajeeb Hazra, president and CEO, Quantinuum said: “Adding the benefits of chemical accuracy and computational efficiency of quantum-native simulations in applications of chemistry is a key step forward in revolutionizing the economics of discovery in several significant end markets, such as pharmaceuticals and energy. Quantinuum is proud to offer the industry’s highest-performing quantum computers and widely used quantum chemistry software to enable this progress.”