The Week in Quantum Computing - April 8st 2024, ZapataAI stock, PsiQuantum expansion, and Microsoft+Quantinuum
Issue #180
The Week in Quantum Computing. Brought to you by Sergio Gago (@piratecto).
Quick Recap
John Preskill is slated to receive the prestigious John Stewart Bell Prize for his significant contributions to quantum mechanics. His work on "classical shadows," a method for translating complex quantum systems into succinct classical descriptions, has opened up new possibilities for efficient information processing in quantum systems. Zapata AI experienced a 60% drop in its stock price following its SPAC merger with Andretti Acquisition Corp. Despite the initial setback, the company remains optimistic. PsiQuantum is considering two sites in Chicago for a potential quantum computing facility, a move that could create between 250 and 1,000 jobs and aligns with Illinois' ambition to become a quantum development hub. Microsoft and Quantinuum have made great breakthrough in quantum error correction creating four highly reliable logical qubits from just 30 physical qubits, marking a critical milestone in quantum error correction (sure, that’s as far as they can go with Quantinuum’s trapped ion device for now). Meanwhile, Oxford Quantum Circuits has deployed two quantum computers in colocation data centers, highlighting the growing interest in operationalizing quantum computing. Neal Ziring from the NSA predicts that practical quantum computing will be available for workforce use via cloud-based environments in 3 to 5 years. Lastly, researchers from the Technical University of Denmark have set a quantum encryption record, demonstrating encryption over a 62-mile distance using Continuous Variable Quantum Key Distribution, a significant step in securing critical infrastructure.
“The announcement” - Microsoft and Quantinuum error correction
Read the explanation Carmen Recio and Ricardo Garcia from the Moody’s quantum team have published on its impact: https://www.linkedin.com/feed/update/urn:li:activity:7182054596729585664/
What does the ZapataAI drop in the market mean?
This is not financial or investment advice. Opinions are my own, blablabla…
First of all, Zapata (like several other quantum companies) fully promotes itself as an AI company. So the playing field is changing. Second, Zapata is the first of the SPAC based public companies that is not hardware based. This is a completely different game from a capitalization, asset and IP perspective.
Zapata
Rigetti
D-Wave
IonQ
While it is true that the three previous incumbents bounced back a bit from the original selling price. None of them truly recovered. In fact D-Wave and Rigetti have struggled to keep their listing status when their stock fell below $1.
Now, if you think about those incumbents, you are talking about a superconducting based company (Rigetti), a trapped Ion one (IonQ) and an annealer (D-Wave). This is a Betamax / VHS / VCR-LP. Except today we don’t know exactly who is who in that video casette war. The three companies are doing fantastic research work and we don’t know which technology will emerge winner. It is worth noting that other very promising technologies such as photonic computers and neutral atoms have very well capitalized companies not participating in public markets.
Then the articles you usually see on “the quatum stocks that will make you rich” typically refer to IBM and other blue chips. You can draw your own conclusions on those.
So, while on the hardware side you can make your own bet or have more “trust” on one team or another. It is still a bet, or a hedging opportunity. But with Zapata things are a bit different. They don’t have a quantum computer underneath, rather they have converted themselves into an AI company where competitors are very fierce and have been playing this game for a long time. So let’s see what happens!
Join me at this event. “Ion Maiden” concert included!
The Week in Quantum Computing
Scaling Quantum Hardware - The Case for Modular Scaling
Today's quantum platforms must scale-up significantly to deliver on the commercial potential of quantum computing, with quantum networking technology playing a crucial role in this endeavor. Notional 'beyond classical' calculations are possible with high fidelity 50-60 qubit modules, but the broad commercial utility of such Noisy Intermediate Scale Quantum (NISQ) modules remains uncertain. Established applications envision large systems of 1,000-25,000+ high-performing qubits, able to sustain quantum calculations without error over a trillion-plus quantum operations, or the terra quop regime. Quantum error correction (QEC) techniques are required to map multiple physical qubits onto higher performing logical qubits, introducing significant overheads. As such, a modular approach to scaling is necessary, likely entailing a distributed quantum computing stack.
https://quantumcomputingreport.com/scaling-quantum-hardware-the-case-for-modular-scaling/
Preskill wins prize for work on learning and quantum computing
John Preskill is set to receive the John Stewart Bell Prize for Research on Fundamental Issues in Quantum Mechanics and Their Applications at the 10th International Conference on Quantum Information and Quantum Control in August 2024. The award recognizes Preskill's significant contributions in the intersection of efficient learning and quantum information processing. His work, conducted with collaborators Robert Huang and Richard Kueng, focuses on translating complex quantum systems into succinct classical descriptions, a method dubbed "classical shadows". This approach allows for the prediction of numerous system properties with a modest number of experiments.
https://www.amazon.science/blog/preskill-wins-prize-for-work-on-learning-and-quantum-computing
Zapata AI suffers a 60% decline in stock price on the first day as new ticker ZPTA goes live.
Zapata AI, a firm specializing in generative AI technologies, saw its stock price plummet by 60% on its first day of trading under the new ticker symbol ZPTA. This followed a merger with Andretti Acquisition Corp, a Special Purpose Acquisition Company (SPAC) led by racing legend Michael Andretti. The merger valued Zapata AI at around $200 million. Despite the initial drop, other quantum companies such as D-Wave, Rigetti, and IonQ have recovered from similar early losses. Zapata AI's technology, which includes products for numerical computations and text analysis, serves a diverse client base including major corporations and government agencies.
PsiQuantum, Related eye big industrial sites for redevelopment
PsiQuantum, a California-based quantum computing pioneer, is considering two industrial sites in Chicago for a quantum computing facility. The sites are the former U.S. Steel South Works and a former Texaco refinery in Lockport. The project, which could generate between 250 and 1,000 jobs, aligns with Governor J.B. Pritzker's ambition to make Illinois a quantum development hub. Related Midwest is a potential developer for the project, possibly acquiring the 440-acre South Works site. The project would involve two facilities covering 500,000 square feet and require significant power and water resources.
Advancing science: Microsoft and Quantinuum demonstrate the most reliable logical qubits on record with an error rate 800x better than physical qubits
Microsoft and Quantinuum have demonstrated the most reliable logical qubits to date, with an error rate 800 times better than physical qubits. Using Microsoft's qubit-virtualization system and Quantinuum's ion-trap hardware, they ran over 14,000 experiments without a single error. This breakthrough moves us beyond the current noisy intermediate-scale quantum (NISQ) level to Level 2 Resilient quantum computing, a significant step towards building a hybrid supercomputing system.
The paper: Demonstration of logical qubits and repeated error correction with better-than-physical error rates
A team of researchers from Microsoft Azure Quantum and Quantinuum have made a significant advancement in quantum computing. They demonstrated logical qubits and repeated error correction with error rates lower than physical error rates. The team used a trapped-ion QCCD processor and fault-tolerant encoding and error correction. They achieved error rates 9.8 to 500 times lower with the [[7,1,3]] code, and 4.7 to 800 times lower with the [[12,2,4]] code. The study signifies a crucial transition from noisy intermediate scale quantum computing to reliable quantum computing, demonstrating capabilities necessary for large-scale fault-tolerant quantum computing.
https://arxiv.org/abs/2404.02280v1
Quantum Computing Revolution: Oxford Quantum Circuits Deploys in Cyxtera and Equinix Data Centers, Paving the Way for Future Infrastructure"
Quantum computing is on the cusp of being deployed in data centers, necessitating a shift in data center design thinking. Currently, most quantum computers are housed in dedicated science labs, but as their power grows, interest in deploying them in operational environments is increasing. However, quantum computing requires radically different technologies and infrastructure than classical computing. Quantum providers are reportedly in discussions with some colocation/wholesale providers to explore potential dedicated space in facilities. Oxford Quantum Circuits has already deployed two quantum computers in colocation data centers, one in a Cyxtera facility outside London and another in an Equinix facility in Tokyo.
Practical quantum computing is coming in 3 to 5 years, but will be cloud based, NSA official predicts
Practical quantum computing is expected to be available for workforce use in 3 to 5 years, according to Neal Ziring, the technical director of the NSA's cybersecurity directorate, who also predicts that it will be accessed via cloud-based environments. This approach will be due to cost and practicality considerations, with the advantage of enabling hybrid computing, combining the computational elements of both quantum and classical systems. The NSA has set a 2035 deadline for IC systems to adopt new standards known as post-quantum cryptography. To fully benefit from this emerging technology, Ziring emphasizes the need for better partnerships between government, industry, and academia.
Breakthrough: Denmark dispatches quantum encrypted message over 62 miles
Researchers at the Technical University of Denmark (DTU) have achieved a record by demonstrating quantum encryption over a 62-mile distance using Continuous Variable Quantum Key Distribution (CV QKD). The team used machine learning to detect and minimize the impact of noise disturbances that could destroy the encryption. Tobias Gehring, an associate professor in the Department of Physics at DTU, explains that the quantum state of photons used in QKD makes it impossible to copy the key, thereby protecting critical infrastructure from hacking. The team plans to set up a secure communication network for Danish ministries and establish quantum-safe communication between cities.
https://interestingengineering.com/innovation/quantum-key-distribution-distance-record
State of Quantum report 2024 sees early potential for AI and Quantum
The 2024 State of Quantum report suggests that quantum computing could complement, not replace, artificial intelligence (AI) and machine learning. It posits that quantum could enhance AI by accelerating high-performance computing (HPC), while current AI technology could assist in overcoming challenges in developing quantum computing. Together, AI and quantum computing could facilitate applications like generative chemistry and digital twin simulations. AI would handle sequenced tasks with ongoing adjustments, while quantum computing would be better suited for the probabilistic computations involved in these operations.
Rensselaer Polytechnic Institute and IBM Unveil the World’s first IBM Quantum System One on a University Campus
Rensselaer Polytechnic Institute (RPI) and IBM have unveiled the world's first IBM Quantum System One on a university campus. The system, powered by a 127-qubit IBM Quantum 'Eagle' processor, will boost educational and research opportunities for RPI and partnering institutions across New York. Key figures including RPI President Marty A. Schmidt, IBM Chairman and CEO Arvind Krishna, and Congressman Paul Tonko attended the unveiling. The initiative, supported by Curtis R. Priem, vice chair of RPI’s Board of Trustees, aims to advance quantum computing research and build the next quantum workforce.
Distributed Quantum Computing: Enhancing Power with Interconnected Processors
Distributed Quantum Computing (DQC) is an emerging field aiming to revolutionize information processing via interconnected quantum processors, thus significantly enhancing computational power. The future realization of large-scale quantum processors is expected to adopt a distributed approach, integrating Quantum Processing Units into classical High-Performance Computing infrastructures. IBM's Quantum System Two exemplifies DQC implementation, featuring three IBM Quantum Heron processors, each with 133 fixed-frequency qubits, yielding a 35x performance improvement over the previous 127-qubit Eagle processor. Despite existing challenges, the future of DQC is promising, requiring further exploration of its foundational principles and achievements.
Quantum in Context: D-Wave Q4 2023 Earnings and Other Numbers
D-Wave Quantum Inc., a quantum annealing computing company, reported its Q4 2023 financial results, highlighting "computational supremacy," executive moves, product improvements, and customer collaborations. The company's revenue increased to $2.906 million in Q4 2023 from $2.394 million in Q4 2022, while net losses rose to $82.715 million in 2023 from $53.702 million in 2022. Despite modest revenue increases, the company's net losses have grown, indicating that significant deal volumes may take time. D-Wave's competitors developing universal digital quantum computers could benefit from this delay.
https://futurumgroup.com/insights/quantum-in-context-d-wave-q4-2023-earnings-and-other-numbers/
Practical Quantum Computing is about More Than Just Hardware
MIT and Accenture have proposed a new framework called "Quantum Economic Advantage" to determine the practicality of quantum computing. Tech giants like Google and Microsoft continue to invest in quantum computing, which holds promise for large computations. The new framework suggests that quantum computers can outperform classical ones only when they have access to better algorithms. Quantum Economic Advantage occurs when a quantum computer can outperform any comparably expensive classical computer for a specific problem. The framework indicates that quantum economic advantage requires both feasibility and a net algorithmic advantage. The quantum computer must be powerful enough to solve the problem, and the quantum algorithm must significantly outperform the classical computer's speed.
https://cmr.berkeley.edu/2024/03/practical-quantum-computing-is-about-more-than-just-hardware/