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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 (QUBT) has launched QI Solutions, Inc, a wholly owned subsidiary focusing on quantum solutions for government and defense sectors. The new entity, based in Arizona, will manage engagements and contracts from the U.S. government and the Department of Defense. Sean Gabeler, a seasoned operations expert, will lead QI Solutions, emphasizing the company's commitment to providing market-ready quantum technologies. QI Solutions aims to address unique market requirements with a wide range of offerings, including quantum computing solutions, software, communication technologies, and customized services.
Quantum Computing Inc (NASDAQ: QUBT) has appointed The Honorable James Simon Jr. to lead its Technical Advisory Board. Mr. Simon, a former CIA officer and Microsoft executive, aims to align QCI's technology with strategic objectives and foster growth in quantum solutions. He emphasized the need for a diverse team of advisors to tackle challenges in this emerging field. This appointment aligns with QCI's broader strategy to enhance its product sales, alongside the recent addition of Dr. Carl Weimer to the Board, who brings over 30 years of aerospace experience. QCI is committed to advancing quantum computing applications for real-world solutions.
Quantum Computing Inc. (QCI) (NASDAQ: QUBT) has launched the Dirac-1 Dedicated Subscription service, providing enterprises with exclusive access to its Dirac-1 Entropy Quantum Computing (EQC) system. This subscription model addresses common availability issues in quantum computing, enabling customers to use the system anytime. The Dirac-1 can handle up to 10,000 variables and is designed for solving critical business problems, with competitive pricing compared to other systems. QCI anticipates substantial sales growth for EQC subscriptions in 2023.
Quantum Computing Inc. (QUBT) announced an At-The-Market Issuance Sales Agreement on December 5, 2022, allowing it to raise up to $25 million in common stock at its discretion. This strategic move aims to enhance the company's balance sheet and provide flexibility for capital raising during market challenges. CEO Robert Liscouski emphasized that this approach enables sales at prevailing market prices, helping support their strategic growth plan.
Quantum Computing Inc. (QUBT) announced a collaboration with Rabobank to enhance fraud detection in payment transactions using its entropy quantum computing (EQC) technologies. This initiative aims to tackle the billions lost annually to fraudulent transactions, leveraging QCI's Dirac 1 system for improved accuracy and computation speed. QCI's EQC system is particularly poised to address sophisticated cyber threats, reinforcing Rabobank's existing fraud prevention measures. The partnership reflects a commitment to innovative solutions in the banking sector.
Quantum Computing Inc. (Nasdaq: QUBT) will conduct in-person demonstrations of its Dirac 1 Entropy Quantum Computing system at the Quantum World Congress in Washington, DC, from November 29 to December 1, 2022. Dr. Bill McGann, COO/CTO of QCI, will moderate a workshop titled "Quantum Computing: Roadmap to Value" on December 1. The Dirac 1 system is designed to tackle real-world business challenges with over 5,000 variables, distinguishing itself from existing quantum computing solutions.
Quantum Computing Inc. (QCI) has launched free software that allows D-Wave customers to convert their QUBO problems into Hamiltonian equations, solvable by the Dirac 1 Entropy Quantum Computing (EQC) system. This development addresses market frustrations with existing quantum technologies by enabling problem-solving for up to 10,000 variables. The Dirac 1 system offers solutions at room temperature on a desktop platform, marking a significant advancement over traditional quantum annealers.
Quantum Computing Inc. (Nasdaq: QUBT) is set to enhance its role in cybersecurity. On October 26, 2022, CEO Robert Liscouski will present at IQT Fall 2022, focusing on how quantum technology can bolster cybersecurity measures. His talk will highlight the advantages of Quantum Random Number Generation (QRNG) and introduce QCI's new Entropy Quantum Computing (EQC) photonic system. These innovations promise advanced quantum cryptographic protocols, crucial for the future of secure quantum communication networks.
Quantum Computing Inc (NASDAQ: QUBT) announced plans to establish a new advanced quantum nanophotonics manufacturing and research center, enhancing chip development capabilities. The company is pursuing federal, state, and regional funding incentives, anticipating $30 million from the CHIPS and Science Act of 2022, which allocates $52 billion for semiconductor manufacturing. This initiative aims to position QCI as a leader in U.S. quantum computing and technology development, leveraging partnerships with government and economic groups.
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