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Quantum Computing Inc. (QCi), trading under the symbol QUBT, is an American company specializing in quantum computing and artificial intelligence software development. QCi focuses on creating heterogeneous software that can run on various quantum platforms. The company is headquartered in Leesburg, Virginia, and is known for its innovative approach to delivering quantum products for high-performance computing applications. QCi's products operate at room temperature, use low power, and are cost-effective. The company's portfolio includes a financial portfolio optimizer, which helps financial advisors and investment managers make optimal investment decisions, and cybersecurity applications.
Recently, QCi announced a successful partnership with NASA, where they have been awarded a project to denoise LiDAR spectral information using their proprietary Entropy Quantum Computing (EQC). This project aims to enhance NASA's capabilities to measure the physical properties of clouds and aerosols in lower earth orbit. QCi's Chief Executive Officer, Dr. William McGann, expressed excitement about the project and highlighted the potential of their upcoming launch of the Dirac-3, a high-dimensional Entropy Quantum Machine.
In addition to their work with NASA, QCi recently commercialized their quantum optimization platform, Dirac-3, designed to address complex problems with larger numbers of variables. The Dirac system is the first of its kind to natively solve integer problems using quantum digits (qdits), expanding the use of quantum technology in optimization solutions. This innovative product has garnered interest from various industries, including healthcare, financial services, supply chain, and autonomous vehicles.
Quantum Computing Inc (NASDAQ: QUBT) has launched its patented Quantum Random Number Generator (QRNG) technology, enabling the generation of non-repeatable number sequences crucial for various applications including security and finance. The QRNG products will be available via cloud-based subscription, with hardware options expected later in mid-2023. This innovative technology, developed in collaboration with Stevens Institute of Technology, eliminates the need for randomness extraction, enabling superior randomness and security. The QRNG market is projected to exceed $3.2 billion by 2030, and QCI aims to capture a significant share through strategic partnerships and aggressive product enhancements, including customizable features and hardware integration.
Quantum Computing Inc. (NASDAQ: QUBT) announced that its subsidiary, QI Solutions, is joining the Center for Quantum Technologies (CQT), an initiative supported by the National Science Foundation. CQT includes partnerships with Purdue University, Indiana University, and other institutions to advance quantum technologies addressing industry and defense challenges.
QI Solutions will provide a unique suite of quantum services including quantum computing, sensing, and cybersecurity. The partnership aims to secure federal contract opportunities, with expectations for awards in the current fiscal year, positioning QI Solutions as a key provider of quantum technology.
Quantum Computing Inc (QUBT) has appointed Lewis Shepherd to its Technical Advisory Board, enhancing its expertise in quantum technology. Shepherd brings over 30 years of experience in R&D innovation, AI, and cybersecurity. He is currently the Senior Director at VMware and has advised the U.S. Department of Defense. This appointment aims to provide market intelligence and increase visibility of QCI's products. Shepherd's insights into photonic quantum computing are expected to support QCI's goal of delivering accessible solutions with real-world applications. The company continues to focus on both software and hardware solutions for quantum computing.
Quantum Computing Inc (NASDAQ: QUBT) has announced that its subsidiary, QI Solutions, has joined the Arizona Defense and Industry Coalition (AZDIC). This coalition serves as a unifying voice for Arizona's defense community, which includes numerous defense contractors and military installations, contributing over $10 billion to the state's economy. QI Solutions aims to collaborate on quantum services, including computing and cybersecurity, to enhance defense capabilities. President Sean Gabeler highlighted the potential for quantum solutions within the defense sector, emphasizing their commitment to innovation.
Quantum Computing Inc. (NASDAQ: QUBT) announced its subsidiary, QI Solutions, is joining the University of Arizona's Center for Quantum Networks (CQN). This collaboration aims to enhance quantum networking capabilities, leveraging QI Solutions' expertise in quantum photonics. CQN is designed to connect quantum devices across campus labs, driving advancements in Quantum Information Science and Engineering.
Partnerships with prestigious institutions such as Harvard, MIT, and Yale, along with industry leaders like Cisco and Lockheed Martin, will support this initiative. QCI focuses on delivering accessible quantum solutions for real-world applications.
Quantum Computing Inc. (QUBT) has successfully integrated its merger with QPhoton, significantly enhancing its capabilities in quantum hardware production and doubling its size. The company is transitioning from an R&D focus to commercialization, with guidance indicating EBITDA breakeven at $30 million in revenue within two years. In 2022, QCI reported first revenues of approximately $136,000, driven by professional services, amid rising operating expenses of $36.7 million, largely due to increased personnel and merger costs. The firm plans to roll out quantum products including the Entropy Quantum Computer and Quantum LiDAR, aiming for substantial revenue growth within 2023.
Quantum Computing Inc (QUBT) has appointed Dr. Brian LaMacchia to its Technical Advisory Board, enhancing its strategic direction in quantum computing and cybersecurity. LaMacchia, a former Microsoft Distinguished Engineer, brings expertise in quantum-resistant cryptography, crucial for advancing QCI's photonic quantum technologies. CEO Robert Liscouski highlighted the significance of this appointment for QCI's future and its competitive edge in the photonic quantum computing market. The company anticipates real contracts and government partnerships for its quantum solutions in the coming months, asserting its leadership in this emerging field.
Quantum Computing Inc. (NASDAQ: QUBT) announced a new business initiative focused on quantum cyber security following the award of an international patent. This patent provides exclusive rights to advanced network security solutions, delivering system-wide, zero-trust protections based on quantum physics. The technology seamlessly integrates with existing fiber and satellite communication networks and targets government and large commercial systems. CEO Bob Liscouski emphasized the cybersecurity sector's importance, highlighting vulnerabilities in current systems and the need for authenticated communications. The new quantum security solutions are set to address critical infrastructure protection challenges.
Quantum Computing Inc (NASDAQ: QUBT) has announced its participation in the upcoming A.G.P. Emerging Growth Technology Conference on February 16, 2023. The company will engage in one-on-one virtual meetings with institutional analysts and investors, discussing recent contract awards and new product offerings. Interested parties can schedule meetings through an online request upon registration. QCI focuses on providing quantum computing solutions and is dedicated to making these technologies accessible for real-world business applications. The company aims to accelerate the value of quantum computing across various industries.
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