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    Quantum computer company IonQ makes Wall Street debut

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    The first stock market-listed quantum computer company made its debut on Wall Street on Friday, marking a technology milestone that until recently was thought to take years to commercialize.

    The public listing of IonQ is an immediate business in a rudimentary form of technology through a merger with a special purpose acquisition company or Spac.

    Quantum computers take advantage of the strange effects of quantum mechanics to process information in ways that significantly accelerate certain types of computation. However, the difficulty of controlling the qubits at the center of the system makes it difficult to build a system large enough to take advantage of the effects in a practical way.

    After raising $ 82 million in the first six years as a private company, including a series of funding led by Softbank earlier this year, IonQ’s public listing brought in $ 635 million. PsiQuantum, which builds quantum computers using different photon-based technologies, raised $ 450 million in private funding earlier this year. Honeywell has agreed to inject $ 300 million into the new quantum unit after merging with Cambridge Quantum Computing in the United Kingdom.

    Former Amazon executive Peter Chapman, who heads IonQ, predicts that his company’s quantum machines will rival the world’s fastest supercomputers “within a few years.”

    Software designed to run on machines and run simulations has already shown to be superior to traditional computers, Chapman said. Much of the focus was on using quantum computers to reduce the time it takes to train machine learning models, he added. However, quantum systems capable of executing these algorithms have not yet made the transition from scientific experiments to large-scale production.

    IonQ predicts that the business will grow rapidly in the middle of the last decade, with revenue jumping from $ 60 million in 2024 to $ 522 million in 2026.According to Chapman, their daily work is

    The ability to predict the distant future is one of the main attractions of going public through Spac, and IonQ can list under more stringent regulatory constraints on companies seeking a standard initial public offering. He added that he might not have been able to.

    Chapman acknowledged that the technology carries far higher risks than investing in a regular stock market, but added: Many risks have been removed, but many returns have also been removed. ”

    Quantum computer company IonQ makes Wall Street debut Source link Quantum computer company IonQ makes Wall Street debut

    The post Quantum computer company IonQ makes Wall Street debut appeared first on California News Times.

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