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You have recently been selected to the Tech Nations Future Fifty programme. What are your expectations and how does it feel to be identified as a future unicorn?

Were delighted to have been selected as the sole representative of a rich and diverse UK quantum tech industry. The quantum computing marketing is expected to grow to $28-72B over the next decade so I expect many unicorns to emerge, and we certainly hope to be one of them. Tech Nation has an excellent track record of picking and supporting high-growth leaders. Were excited to make the most of the opportunities the programme offers.

Quantum computing is an amazing idea the ability to harness the power of the atom to perform computation will transform many industries. Back in 2016, I was a research fellow at the University of Cambridge, and at that time, the majority view was that building a useful quantum computer wouldn't be possible in our lifetime - it was simply too big and too hard a problem. I disagreed but needed to validate this. By meeting with teams building quantum computers, I saw an amazing rate of progress a 'Moore's Law' of quantum computing with a doubling in power every two years, just like classical computers have done. That was the catalyst moment for me, and it became clear that if that trend continued, the next big problem would be quantum error correction. I founded Riverlane to make useful quantum computers a reality sooner!

Were building a technology called the quantum error correction stack, which corrects errors in quantum computers. Todays quantum computers can only perform a thousand or so operations before they fail under the weight of these errors. Quantum error correction technology will ultimately enable trillions of error-free operations, unlocking their full and transformative potential.

Implementing quantum error correction to achieve this milestone requires specialised knowledge of quantum science, engineering, software development and chip manufacturing. That makes quantum error correction systems difficult for each quantum computer maker to develop independently. Our strategy is not dissimilar to NVIDIA in providing a core enabling technology for an entirely new computing category.

When Riverlane was founded in 2016, there was a lot of focus on developing software applications to solve novel problems on small-scale quantum computers, a phase known as the noisy intermediate-scale quantum (NISQ) era. However, after the limits of NISQ became apparent due to considerable error rates hindering calculations, the industry shifted focus to building large and reliable quantum computers that could overcome the error problem

This is something weve been working on from the start through the invention of our quantum error correction stack but were now doubling down on its development to meet this growing demand from the industry. An important part to this has been scaling our team to nearly 100 people across our two offices in Cambridge (UK) and Boston (US) - two world-leading centres for quantum computing research and development.

Its a common misconception that you need a PhD in quantum physics or computer science to work in our field. The reality is we need people with a wide range of skills and from the broadest possible mix of backgrounds and demographics. Collectively, were a group that loves tackling hard and complex problems if not the hardest! This requires a culture that blends extremes of creativity, curiosity, problem-solving and analytical skills, plus an alchemy of driving urgency and zen like patience. Im also proud of the extraordinary openness and diversity of our team, including a healthy gender mix in a field where this is the exception not the norm.

Ive been fascinated with quantum physics since I was a student. Back then, the idea of building a computer that applied the unique properties of subatomic particles into computers to transform our understanding of nature and the universe was pure science fiction. Building a company that is now achieving this feels almost miraculous. Building a company with the right mix of skills and shared focus to do far faster than previously imaginable is brutally tricky and joyously rewarding in equal parts

Last September, we launched the worlds first quantum error correction chip. As the quantum computing industry develops, these chips will get better and better, faster and faster. Theyll ultimately enable the quantum industry to scale beyond its current limitations to achieve its full potential to solve currently impossible problems in areas like healthcare, climate science and chemistry. At a recent quantum conference, someone stood up and said quantum computing will be bigger than fire. I wouldnt go quite that far! But theyll unlock a fundamental new era of human knowledge and thats super exciting.

Have a bold and ambitious vision thats underpinned by a proven insight and data. In my case, it was that the presumption that a quantum computer was simply too hard to ever build could be disproven and overcome. Once you have this, be ready to learn fast and pivot fast in your tactics but never lose sight of your goal.

I spend at least a third of my time travelling. Meeting global leaders in our field face to face to hear their ideas, track their progress and build partnerships is priceless. When Im home, Im lucky enough to live about a mile from our office in Cambridge. No matter the weather, I walk to and from work every day. Cambridge is a beautiful place - the thinking time and fresh air give me energy and a calm headspace.

Steve Brierley is the CEO of Riverlane.

Tech Nations Future Fifty Programmeis designed to support late-stage companies with access and growth opportunities, the programme has supported some of the UKs most prominent unicorns, including Monzo, Darktrace, Revolut, Starling, Skyscanner and Deliveroo.

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Riverlane, the company making quantum computing useful far sooner than anticipated - Maddyness

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The novel quantum data assimilation method can significantly reduce the computation time required for numerical weather prediction, enabling deeper understanding and improved predictions

Credit: Brett Jordan from Openverse https://openverse.org/image/563410ca-1385-475c-a7f6-fd521f910623

Data assimilation is a mathematical discipline that integrates observed data and numerical models to improve the interpretation and prediction of dynamical systems. It is a crucial component of earth sciences, particularly in numerical weather prediction (NWP). Data assimilation techniques have been widely investigated in NWP in the last two decades to refine the initial conditions of weather models by combining model forecasts and observational data. Most NWP centers around the world employ variational and ensemble-variational data assimilation methods, which iteratively reduce cost functions via gradient-based optimization. However, these methods require significant computational resources.

Recently, quantum computing has emerged as a new avenue of computational technology, offering a promising solution for overcoming the computational challenges of classical computers. Quantum computers can take advantage of quantum effects such as tunneling, superposition, and entanglement to significantly reduce computational demands. Quantum annealing machines, in particular, are powerful for solving optimization problems.

In a recent study, Professor Shunji Kotsuki from the Institute for Advanced Academic Research/Center for Environmental Remote Sensing/Research Institute of Disaster Medicine, Chiba University, along with his colleagues Fumitoshi Kawasaki from the Graduate School of Science and Engineering and Masanao Ohashi from the Center for Environmental Remote Sensing, developed a novel data assimilation technique designed for quantum annealing machines. "Our study introduces a novel quantum annealing approach to accelerate data assimilation, which is the main computational bottleneck for numerical weather predictions. With this algorithm, we successfully solved data assimilation on quantum annealers for the first time," explains Prof. Kotsuki. Their study has been published in the journal Nonlinear Processes in Geophysics on June 07, 2024.

In the study, the researchers focused on the four-dimensional variational data assimilation (4DVAR) method, one of the most widely used data assimilation methods in NWP systems. However, since 4DVAR is designed for classical computers, it cannot be directly used on quantum hardware. Prof. Kotsuki clarifies, "Unlike the conventional 4DVAR, which requires a cost function and its gradient, quantum annealers require only the cost function. However, the cost function must be represented by binary variables (0 or 1). Therefore, we reformulated the 4DVAR cost function, a quadratic unconstrained optimization (QUO) problem, into a quadratic unconstrained binary optimization (QUBO) problem, which quantum annealers can solve."

The researchers applied this QUBO approach to a series of 4DVAR experiments using a 40-variable Lorentz-96 model, which is a dynamical system commonly used to test data assimilation. They conducted the experiments using the D-Wave Advantage physical quantum annealer, or Phy-QA, and the Fixstars Amplify's simulated quantum annealer, or Sim-QA. Moreover, they tested the conventionally utilized quasi-Newton-based iterative approaches, using the Broyden-Fletcher-Goldfarb-Shanno formula, in solving linear and nonlinear QUO problems and compared their performance to that of quantum annealers.

The results revealed that quantum annealers produced analysis with comparable accuracy to conventional quasi-Newton-based approaches but in a fraction of the time they took. The D-Wave's Phy-QA required less than 0.05 seconds for computation, much faster than conventional approaches. However, it also exhibited slightly larger root mean square errors, which the researchers attributed to the inherent stochastic quantum effects. To address this, they found that reading out multiple solutions from the quantum annealer improved stability and accuracy. They also noted that the scaling factor for quantum data assimilation, which is important for regulating the analysis accuracy, was different for the D-Wave Phy-QA and the Sim-QA, owing to the stochastic quantum effects associated with the former annealer.

These findings signify the role of quantum computers in reducing the computational cost of data assimilation. "Our approach could revolutionize future NWP systems, enabling a deeper understanding and improved predictions with much less computational time. In addition, it has the potential to advance the practical applications of quantum annealers in solving complex optimization problems in earth science," remarks Prof. Kotsuki.

Overall, the proposed innovative method holds great promise for inspiring future applications of quantum computers in advancing data assimilation, potentially leading to more accurate weather predictions.

About Professor Shunji Kotsuki

Dr. Shunji Kotsuki is currently a Professor at the Institute for Advanced Academic Research (IAAR), Chiba University, leading "Environmental Prediction Science." He received his B.S. (2009), M.S. (2011), and Ph.D. (2013) degrees in civil engineering from Kyoto University. He has over 40 publications and received over 500 citations. Dr. Kotsuki is a leading scientist in data assimilation, deep learning numerical weather prediction with over ten years of research experience in the development of the global atmospheric data assimilation system (a.k.a. NICAM-LETKF). His research interests include data assimilation mathematics, model parameter estimation, observation diagnosis including impact estimates, satellite data analysis, hydrological modeling, and atmospheric and hydrological disaster predictions. He is currently the project manager for Goal 8 of Japan's Moonshot Program, where he leads an interdisciplinary research team. This team includes experts in meteorology, disaster mathematics, information science, computer vision, ethics, and legal studies, all working together to achieve a weather-controlled society.

Nonlinear Processes in Geophysics

Computational simulation/modeling

Not applicable

Quantum Data Assimilation: A New Approach to Solve Data Assimilation on Quantum Annealers

7-Jun-2024

The authors have no competing interests to declare.

Disclaimer: AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert system.

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Quantum data assimilation: A quantum leap in weather prediction - EurekAlert

Technology firms, both public and private, have been working hard to develop quantum computing technologies for decades. The reasons for that are straightforward. Quantum machines, which harness the quantum mechanics undergirding subatomic particles, have a number of advantages over classical computers. Portfolio optimization and climate predictive algorithms that improve with more complexity are better handled by quantum computers.

U.S. equities markets have surged with the rise of generative artificial intelligence (AI) and its potential to create enormous efficiencies and profits for firms across various industries. While AI has brought quantum computing back into the spotlight, a lack of practical ways to scale these complex products has severely dented the performance of pure-play quantum computing stocks, such as IonQ (NYSE:IONQ) and Rigetti Computing (NASDAQ:RGTI).

Fortunately, not every public company invested in quantum computing has seen doom and gloom. Below are the three best quantum computing stocks investors should buy in June.

Source: shutterstock.com/LCV

International Business Machines (NYSE:IBM) is a legacy American technology business. It has its hands in everything from cloud infrastructure, artificial intelligence, and technology consulting services to quantum computers.

The firm committed to developing quantum computing technologies in the early 2000s and tends to publish new findings in the burgeoning field frequently. In December 2023, IBM released a new quantum chip system, Quantum System Two, that leverages the firms Heron processor, which has 133 qubits. Qubits are analogous to bytes on a classical computer. But instead of being confined to states of 0s and 1s, qubits, by way of superposition, can assume both states at the same time.

Moreover, what makes Quantum System Two particularly innovative is its use of both quantum and classical computing technologies. In a press release, IBM states, It combines scalable cryogenic infrastructure and classical runtime servers with modular qubit control electronics. IBM believes the combination of quantum computation and communication with classical computing resources can create a scalable quantum machine.

IBMs innovations in quantum computing technologies as well as AI has not gone unnoticed either. Shares have risen 31.3% over the past 12 months. The computing giants relatively cheap valuation coupled with its exposure to novel, high-growth fields could boost the value of its shares in the long-term.

Source: sdx15 / Shutterstock.com

Investors have given Nvidia (NASDAQ:NVDA) attention and praise over the past 12 months due to its critical role in AI computing technologies. The chipmakers advanced GPUs, including the H100 and H200 processors, are some of the most coveted chips on the market. The new Blackwell chips, coming to the market in the second half of 2024, bring to the table even better performance.

Though Nvidias prowess in the world of AI captures much of the headlines, the firm has already made inroads into the next stage of computing. In 2023, Nvidia announced a new quantum system in conjunction with startup Quantum Machines. It leverages what Nvidia calls the Grace Hoper Super Chip (GH200) as well as the chipmaker advanced CUDA Quantum (CUDA-Q) developer software.

In 2024, Nvidia released its Quantum Cloud platform, which allows users to build and test quantum computing algorithms in the cloud. The chipmakers GPUs and its open-source CUDA platform will likely be essential to scaling up the quantum computing space.

Nvidias share price has surged 214.2% over the past 12 months.

Source: Bartlomiej K. Wroblewski / Shutterstock.com

Quantum computers are complex machines that require all kinds of components. Furthermore, it is vital for quantum systems to operate at extremely low temperatures in order to operate efficiently.

FormFactor (NASDAQ:FORM) specializes in developing cryogenic systems or systems that are meant to deal with low temperatures. Everything from wafer testing probes to low-vibration probe stations as well as sophisticated refrigerators call cryostats, FormFactor provides. Also, the firms analytical probe tools are useful for developing advanced chips, such as NAND flash memory.

With quantum computing systems and advanced memory chips in greater demand these days, FormFactor could see revenues and earnings rise in the near and medium terms. FormFactors share price has surged 77.5% over the past 12 months, underscoring that investors are taking notice of the companys long-term value.

At the beginning of May, FormFactor released first quarter results for fiscal year 2024 and topped revenue estimates while EPS came in line with market expectations. The firm expects strong demand for advanced memory chips, such as DRAM, will help propel revenue growth in the following quarters.

On the date of publication, Tyrik Torresdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Tyrik Torres has been studying and participating in financial markets since he was in college, and he has particular passion for helping people understand complex systems. His areas of expertise are semiconductor and enterprise software equities. He has work experience in both investing (public and private markets) and investment banking.

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The 3 Best Quantum Computing Stocks to Buy in June 2024 - InvestorPlace

Capitalize on the synergy between AI and quantum with these millionaire-maker quantum computing stocks

Quantum computing, with its unparalleled data processing speed, has the potential to usher in a new era in tech. Moreover, the synergy between AI and quantum computing will elevate millionaire-maker quantum computing stocks to new heights. The industry is likely to achieve these kinds of returns as a result of becoming a new critical technology at the center of data processing and connection.

Moreover, quantum tech is leaving traditional silicon-based systems in the dust. Beyond this, some of the most influential companies in the tech world are driving the industry, promising exciting opportunities for investors. However, backing the right horses in the race for quantum supremacy is important to maximize your upside potential.

That said, here are three millionaire-maker quantum computing stocks worth investing in for the long haul. Thats because the industry still operates on the fringes of science and technology, making it a long-term play for those looking for generous returns.

IonQ (NYSE:IONQ) is the top pure-play quantum computing stock, perhaps the most promising among its peers. It has made some impressive strides of late, achieving ion stability for an hour, a feat that far comfortably outpaces its competition. Its promise is reflected in its recent strong financial performance. It recently reported its first-quarter (Q1) results, where sales soared 77.2% on a year-over-year (YOY) basis to $7.6 million. Additionally, its loss of 19 cents per share beat expectations by six cents. For the full year, it expects sales between $37 million and $41 million, over 70% growth at the mid-point on a YOY basis. Moreover, the company recently partnered with Oak Ridge National Laboratory (ORNL) to leverage quantum technology to modernize the power grid. This stellar partnership, along with others, demonstrates IonQs ability to innovate and expand its applications, offering healthy long-term upside ahead for its investors.

Source: Shutterstock

Investing in quantum computing can be complicated and speculative at the same time. To simplify the process, the Defiance Quantum ETF (NYSEARCA:QTUM) works best, with it investing in AI stocks to provide a balanced cushion.

The QTUM ETF offers investors exposure to some of the leading global businesses in transformative technologies such as machine learning, quantum computing, and cloud platforms. It holds investments in 70 different stocks, with its top 10 holdings representing just 20% of its $252 million net assets. Hence, its holdings are highly diversified, with an expense ratio of just 0.40%. Some of the companies in its investment portfolio are MicroStrategy(NASDAQ:MSTR),Nvidia(NASDAQ:NVDA), andMKS Instruments(NASDAQ:MKSI) to name a few.

Moreover, QTUM stock has been a smashing success for its investors in the past five years, generating a total return of over 175%, 361% higher than the median of all ETFs. In the past year alone, its up 30% and is positioned for healthy long-term gains.

Source: The Art of Pics / Shutterstock.com

Microsoft (NASDAQ:MSFT), a tech giant, has tentacles in virtually every major tech vertical, and quantum computing is no different. The AI revolution took Microsofts business up a notch or two last year, and it is eyeing quantum computing as the next frontier. Its partnership with quantum computing pure-play Quantinuum could be a breakthrough for the entire sector. According to a recent statement from one of Microsofts executives, the company has made massive progress in reducing qubit error rates, which is critical for commercializing quantum technology. Its qubit-virtualization system applied to Quantinuums ion-trap hardware, led to more than 14,000 error-free experiments. The breakthrough will set the stage for Quantinuums Helios H-Series quantum computer by next year. Moreover, the collaboration between the two tech companies aims to go from 100 reliable logical qubits to a whopping 1,000 qubits. If these lofty plans come to fruition, I wont be surprised if MSFT stock goes on another monumental run like last year.

On thedate of publication, Muslim Farooque did not have (eitherdirectly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelors of science degree in applied accounting from Oxford Brookes University.

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3 Quantum Computing Stocks to Turn $100000 Into $1 Million: June Edition - InvestorPlace

By U.S. Department of Energy June 14, 2024

Artists representation of the formation pathway of vacancy complexes for spin-based qubits in the silicon carbide host lattice and to the right the associated energy landscape. Credit: University of Chicago

Quantum computers, leveraging the unique properties of qubits, outperform classical systems by simultaneously existing in multiple states. Focused research on silicon carbide aims to optimize qubits for scalable application, with studies revealing new methods to control and enhance their performance. This could lead to breakthroughs in large-scale quantum computing and sensor technologies.

While conventional computers use classical bits for calculations, quantum computers use quantum bits, or qubits, instead. While classical bits can have the values 0 or 1, qubits can exist in a mix of probabilities of both values at the same time. This makes quantum computing extremely powerful for problems conventional computers arent good at solving. To build large-scale quantum computers, researchers need to understand how to create and control materials that are suitable for industrial-scale manufacturing.

Semiconductors are very promising qubit materials. Semiconductors already make up the computer chips in cell phones, computers, medical equipment, and other applications. Certain types of atomic-scale defects, called vacancies, in the semiconductor silicon carbide (SiC) show promise as qubits. However, scientists have a limited understanding of how to generate and control these defects. By using a combination of atomic-level simulations, researchers were able to track how these vacancies form and behave.

Quantum computing could revolutionize our ability to answer challenging questions. Existing small scale quantum computers have given a glimpse of the technologys power. To build and deploy large-scale quantum computers, researchers need to know how to control qubits made of materials that make technical and economic sense for industry.

The research identified the stability and molecular pathways to create the desired vacancies for qubits and determine their electronic properties.

These advances will help the design and fabrication of spin-based qubits with atomic precision in semiconductor materials, ultimately accelerating the development of next-generation large-scale quantum computers and quantum sensors.

The next technological revolution in quantum information science requires researchers to deploy large-scale quantum computers that ideally can operate at room temperature. The realization and control of qubits in industrially relevant materials is key to achieving this goal.

In the work reported here, researchers studied qubits built from vacancies in silicon carbide (SiC) using various theoretical methods. Until now, researchers knew little about how to control and engineer the selective formation process for the vacancies. The involved barrier energies for vacancy migration and combination pose the most difficult challenges for theory and simulations.

In this study, a combination of state-of-the-art materials simulations and neural-network-based sampling technique led researchers at the Department of Energys (DOE) Midwest Center for Computational Materials (MICCoM) to discover the atomistic generation mechanism of qubits from spin defects in a wide-bandgap semiconductor.

The team showed the generation mechanism of qubits in SiC, a promising semiconductor with long qubit coherence times and all-optical spin initialization and read-out capabilities.

MICCoM is one of the DOE Computational Materials Sciences centers across the country that develops open-source, advanced software tools to help the scientific community model, simulate, and predict the fundamental properties and behavior of functional materials. The researchers involved in this study are from Argonne National Laboratory and the University of Chicago.

Reference: Stability and molecular pathways to the formation of spin defects in silicon carbide by Elizabeth M. Y. Lee, Alvin Yu, Juan J. de Pablo and Giulia Galli, 3 November 2021,Nature Communications. DOI: 10.1038/s41467-021-26419-0

This work was supported by the Department of Energy (DOE) Office of Science, Office of Basic Energy Sciences, Materials Sciences and Engineering Division and is part of the Basic Energy Sciences Computational Materials Sciences Program in Theoretical Condensed Matter Physics. The computationally demanding simulations used several high-performance computing resources: Bebop in Argonne National Laboratorys Laboratory Computing Resource Center; the Argonne Leadership Computing Facility (ALCF), a DOE Office of Science user facility; and the University of Chicagos Research Computing Center. The team was awarded access to ALCF computing resources through DOEs Innovative and Novel Computational Impact on Theory and Experiment (INCITE) program. Additional support was provided by NIH.

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Better Qubits: Quantum Breakthroughs Powered by Silicon Carbide - SciTechDaily