Quantum News Briefs November 26: Rigetti Completes $100M Equity Offering to Fund Quantum Computing Expansion • Unisys Wins Enduring Impact Award in Fast Company’s 2024 Next Big Things in Tech for Quantum + AI System that Optimizes Shipping Routes • Investors Making a Beeline for Quantum Computing Startups after GenAI • IonQ Upcoming Live Webinar, “IonQ’s Full-Stack Quantum Innovation”
Rigetti Completes $100M Equity Offering to Fund Quantum Computing Expansion
Rigetti Computing, Inc. has announced that it has successfully completed sales of $100 million gross proceeds of its common stock pursuant to its previously disclosed “at-the-market” equity offering program (the “ATM Program”) since the commencement of the ATM Program in March 2024.
The Company intends to use the funds generated by the ATM Program for working capital, capital expenditures and other general corporate purposes, including continuing to focus on its strategy as a leader in superconducting quantum computing and continuing to work to improve its 2-qubit gate fidelity and scale towards higher qubit count systems.
Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. The Company’s proprietary quantum-classical infrastructure provides high performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility.
Unisys Wins Enduring Impact Award in Fast Company’s 2024 Next Big Things in Tech for Quantum + AI System that Optimizes Shipping Routes
Unisys (NYSE: UIS) has announced its selection as a winner in Fast Company’s 2024 Next Big Things in tech list under the new category, Enduring Impact: 15+ Years in Business, honoring the most groundbreaking technological innovations of 2024. This recognition underscores the company’s longstanding commitment to innovation and, most significantly, its influence on the travel and transportation (including air cargo and freight forwarders) industries with its Unisys Logistics Optimization™ solution.
Fast Company explained the Unisys award: For harnessing quantum computing to optimize shipping and logistics.
Unisys Logistics Optimization helps the warehouse and transportation industries route and organize cargo with maximum efficiency. The system’s AI helps plan ground and air transportation and warehouse utilization to optimize loading efficiency, revenue, and on-time deliveries. A pilot program with one airline boosted cargo capacity utilization by 5%. And new algorithms harnessing burgeoning quantum computing technology, presented at the American Physical Society in March 2024, promise to further boost planning and shipping efficiency.
Redefining the industry, Unisys Logistics Optimization revolutionizes logistics efficiency for global airlines and freight forwarders. Leveraging AI and quantum computing, the solution enhances cargo loading, routing, and warehousing operations with near-real-time dynamic planning and exception management capabilities, setting a new standard in logistics planning.
Unisys distinguished itself among visionary companies by showcasing solutions that have transformed business operations in a fast-paced digital world.
In Other News: Financial Express Reports “Investors Making a Beeline for Quantum Computing Startups after GenAI”
The growth of generative artificial intelligence (GenAI) and the meteoric rise of Chat GPT have boosted the momentum for quantum computing with many startup founders and investors betting on it writes S Shanti in November 26 Financial Express.
As per Tracxn, there are nearly 50 active startups currently in the quantum computing segment. These startups have raised over $12.2 million in funding this year against $5.2 million in 2023. Besides IPV, Speciale Invest, Exfinity Ventures, 8X Ventures, Soonicorn Ventures, YourNest, SIDBI Venture Capital, We Founder Circle, and Venture Catalysts are some of the investors.
Bloq Quantum, a Kollam-based startup that offers a user-friendly low-code interface to enterprises to accelerate the overall adoption of quantum computing, was founded only this year but has already bagged funding from venture capitalist (VC) firm Inflection Point Ventures.
BosonQ Psi, a Bhilai-based startup that develops quantum simulation software also bagged Series A funding last month. It has developed the world’s first quantum-powered engineering simulation software, BQPhyTM, to help enterprise customers from the automotive, aerospace and manufacturing sectors to accelerate their time-to-market significantly. Similarly, QpiAI, a full stack quantum compute startup confirms that although the adoption has just begun, there is increased investor interest.
IonQ to Highlight Recent Quantum Innovations in Live Webinar, “IonQ‘s Full-Stack Quantum Innovation”
IonQ (NYSE: IONQ), a leader in the quantum computing and networking industry, will host a live webinar titled “IonQ’s Full-Stack Quantum Innovation” on December 3rd, 2024. The webinar will feature updates from the company’s technical leaders on the continued progress of IonQ’s core technology development pillars: Performance, Scale, and Enterprise-Grade solutions.
The upcoming event will provide a deeper dive into IonQ’s recent advancements and will share updates on the company’s path forward.
Key Highlights:
- Updates on IonQ’s Emerging Technologies, including recapping progress on quantum networking, photonic interconnects, and extreme high vacuum (XHV) technologies.
- Insights into the company’s approach toward scaling quantum computers and enabling quantum hybrid technologies.
- A closer look at IonQ’s enterprise-grade solutions and its focus on making quantum computing more accessible and valuable to businesses across industries.
Webinar Details:
- Title: “IonQ’s Full-Stack Quantum Innovation”
- Date: December 3, 2024 (Available on-demand after the event)
- Time: 10am PT
- Registration Link: https://ionq.zoom.us/webinar/register/WN_jJSCZvtlTQaGBRSIK8ImSA
