LAES News & Events

Welcome to the latest edition of "Quantum Leap" where The Fly decodes news and activity in the quantum computing space.ISING:Nvidiaannounced the world's first family of open-source quantum AI models, Nvidia Ising, designed to help researchers and enterprises build quantum processors capable of running useful applications. Named after a landmark mathematical model that dramatically simplified the understanding of complex physical systems, the Nvidia Ising family provides high-performance, scalable AI tools for quantum error correction and calibration - two of the most critical challenges in building hybrid-quantum classical systems. Ising models run the world's best quantum processor calibration and enable researchers to tackle much larger, more complex problems with quantum computers by delivering up to 2.5 times faster performance and 3 times higher accuracy for the decoding process needed for quantum error correction, the company said. Nvidia added that Nvidia Ising complements the Nvidia CUDA-Q software platform for hybrid quantum-classical computing and integrates with the Nvidia NVQLink QPU-GPU hardware interconnect for real-time control and quantum error correction, providing researchers and developers with a full suite of tools needed to "turn today's qubits into tomorrow's accelerated quantum supercomputers."HARDWARE-SOFTWARE INTEGRATION:Horizon Quantum Computingand AQT announced a strategic collaboration to advance the development of quantum computing applications via increased hardware-software integration. By combining advanced hardware capabilities with scalable software infrastructure, the two companies aim to accelerate users' ability to build real-world quantum applications. "AQT's trapped ion systems provide low error rates and long coherence times, potentially increasing the scalability and reliability of quantum computing," said Horizon Quantum CEO Joe Fitzsimons. "Through this collaboration, Triple Alpha users will gain access to AQT's processors, expanding their options for cutting-edge hardware designed to solve difficult computational problems."IONQ LATEST:IonQhas achieved a technical milestone by photonically interconnecting two independent trapped-ion quantum systems. This marks the first demonstration of connected, commercial quantum computers. The company said, "By successfully linking two remote quantum systems, IonQ has validated the generation, transmission, and detection of photons used to enable quantum entanglement between two commercial IonQ computers at a distance for the first time. This major commercial result reinforces prior lab demonstrations and the theory of using photonic links to interconnect separated trapped-ion platforms while preserving the coherence necessary for advanced quantum operations."Additionally, IonQ has been awarded a contract in the Defense Advanced Research Projects Agency's Heterogeneous Architectures for Quantum program. As a part of HARQ, IonQ plays a role in enabling a new class of networked quantum computers that combine qubit types-such as trapped ions, neutral atoms, and/or superconducting qubits-into an interconnected architecture. Lastly, IonQ and the University of Maryland announced a multi-year expansion of their partnership through the National Quantum Laboratory, or QLab, extending their joint efforts in quantum computing, quantum networking, and workforce development. This latest agreement, totaling $7.5M and supported by funding from the State of Maryland's Capital of Quantum Initiative via the University of Maryland Economic Development Corporation, builds on the partnership first announced in September 2024. The largest component of the agreement supports deployment of a quantum memory node for advanced networking capabilities. This hardware enables UMD to develop, build, and test new applications and use-cases directly on top of IonQ's quantum networking and interconnect platform. IonQ will provide additional quantum compute resources, broadening access to IonQ systems to meet demand from UMD researchers and students. The collaboration boosts applied research efforts through directed projects, including work on quantum machine learning and holographic error-correcting codes. IonQ and UMD will jointly develop a specialized laser system supporting more advanced quantum algorithms and new experiments in quantum thermodynamics. "Our longstanding partnership with the University of Maryland meets the need to accelerate access to advanced quantum computing, quantum networking capabilities, and talent development," said Niccolo de Masi, chairman and CEO of IonQ. "IonQ's collaboration with UMD reflects our commitment to Maryland's 'Capital of Quantum' initiative, as we broaden QLab to include quantum networking, hardware upgrades, and deeper collaboration with its researchers."PILOT PROGRAM:WISeKeyand post-quantum technology subsidiary Sealsq, announced the completion of a pilot phase in their strategic partnership with the Space Command of the Swiss Armed Forces. The collaboration has focused on evaluating technical and operational building blocks relevant to a future Swiss sovereign and quantum-resilient space communications infrastructure. During this pilot phase, WISeSat, Sealsq and their partners conducted satellite missions, payload integration work and secure communications testing designed to assess architecture options, operational concepts and future government and defense use cases. The program has provided technical validation and lessons for the next stage of development, according to the company.QUANTUM HARDWARE UPGRADE:Infleqtionis providing upgraded quantum hardware to the International Space Station via NASA's Northrop Grumman-24cargo mission. The upgraded physics package for the Cold Atom Laboratory, developed in collaboration with NASA's Jet Propulsion Laboratory, may enable record-breaking in-orbit atom populations, record ultracold temperatures, and facilitate creation and study of simultaneous dual-species quantum gases. The company said these advances could unlock new experimental capabilities with the potential to improve navigation, strengthen Earth monitoring, and support critical infrastructure resilience.ORDER:Horizon Quantum and IonQ announced a strategic agreement. Horizon Quantum will purchase one of IonQ's first sixth-generation, chip-based 256-qubit trapped-ion systems.ANALYST COMMENTARY:Citi initiated coverage of Infleqtion with a Buy rating and $20 price target. The overlap between quantum sensing and quantum computing has allowed Infleqtion to generate revenue and evolve as a company, all the while advancing its technology, as the market for quantum computing develops and scales, the analyst told investors in a research note. Infleqtion's ongoing partnership with Nvidiais a key validation of technology and suggests their software solutions are well positioned to address current AI use cases as well as future AI and quantum applications, the firm added.BTIG initiated coverage of Infleqtion with a Buy rating and $22 price target. The firm said Infleqtion is one of few public quantum compute companies generating revenue today from its neutral atom platform. The platform addresses both the $130B quantum computing and $30B quantum sensing industries, the analyst noted. BTIG sees the company's as early-stage with a "highly competitive computing platform available at a significant discount to less technically advanced peers."

WISeKey (WKEY) and post-quantum technology subsidiary Sealsq (LAES), announced the completion of a pilot phase in their strategic partnership with the Space Command of the Swiss Armed Forces. The collaboration, initiated in 2022 and further strengthened in 2024, has focused on evaluating technical and operational building blocks relevant to a future Swiss sovereign and quantum-resilient space communications infrastructure. During this pilot phase, WISeSat, Sealsq and their partners conducted satellite missions, payload integration work and secure communications testing designed to assess architecture options, operational concepts and future government and defense use cases. The program has provided technical validation and lessons for the next stage of development.

The major averages closed sharply higher in a relief rally after the announcement of a two-week ceasefire between the U.S. and Iran before a key escalation deadline. Crude oil fell over 15% to roughly $95 per barrel, effectively reversing the inflation shock that had been tightening financial conditions throughout March and early April.However, the Strait of Hormuz is only partially reopening and structural supply disruptions haven't fully cleared. Additionally, the speaker of the Parliament of Iran, Mohammad Bagher Ghalibaf, said this afternoon that the country's ceasefire with the U.S. has already been violated, according to Bloomberg. Ghalibaf said three clauses of the ceasefire had been violated so far.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Deltareported, with the company noting that it expects Q2 non-fuel unit costs growth similar to Q1Levi Straussprovided areport for Q1Bed Bath & Beyondsubstantially all assets of F9 Brands for $150MShellprovided, citing uncertainty around the "ongoing situation" in the Middle EastIn minutes for the latest FOMC meeting, the Federal Reserve stated that theof the FOMC thinks inflation progress may be slower, with some Fed members seeing the possibility of a rate hike2. WALL STREET CALLS:Coinbaseto Underweight at BarclaysFreshpetto Buy at TD CowenT-Mobileto Buy at MoffettNathansonGeneral Dynamicsto Hold at Deutsche BankSeaport says Broadcom"still in the pack,"to Neutral3. AROUND THE WEB:AbbVieis suing the White House over its discount drug program, Axios reportsA pro-Iranian cybercrime outfit has claimed responsibility for hacks of Chimeand Pinterestthat forced the websites of both companies offline, Bloomberg saysThe Trump administration has rejected requests from Ford Motorand other U.S. automakers for relief from the tariffs on aluminum after two fires at the Novelis aluminum plant in Oswego, New York took the facility out of commission until at least this June, WSJ reportsGreece will prohibit access to social media for children under the age of 15 starting January 1, 2027 due to rising anxiety, sleep issues and the addictive design of the sites, Reuters saysTikTok, whose U.S. business counts Oracleas an investor, intends to invest $1.16B to build a second data center in Finland as it moves data storage for European users to the continent, Reuters reports4. MOVERS:Applied Materialswas higher afterRichtech Roboticsincreased after announcing awith NewConsultancyMeta Platformsgained after launching itsSM Energylower after Roth Capitalthe stock to NeutralExxon Mobilfalls after announcing it sees 6% of upstream production5. EARNINGS/GUIDANCE:Sealsqprovidedand backed its guidance for FY26RPM, with EPS and revenue beating consensusKura Sushiand raised its guidance for FY26Nurix Therapeutics, with EPS missing consensusAehr Test Systemsand backed its guidance for the second half of the yearINDEXES:The Dow rose 1,325.46, or 2.85%, to 47,909.92, the Nasdaq gained 617.15, or 2.8%, to 22,635, and the S&P 500 advanced 165.96, or 2.51%, to 6,782.81.

Welcome to the latest edition of "Quantum Leap" where The Fly decodes news and activity in the quantum computing space.CEPHEUS-1-108Q:Rigetti Computingannounced the general availability of its 108-qubit quantum computing system, Cepheus-1-108Q, now accessible to customers and partners via the Rigetti Quantum Cloud Services Platform and through AmazonBraket, the quantum computing service by AWS. The company said, "Cepheus-1-108Q is Rigetti's highest qubit-count system to date and the industry's largest modular quantum computing system, based on Rigetti's proprietary chiplet-based architecture. The system comprises twelve interconnected 9-qubit chiplets, tripling the number of qubits and chiplets from Rigetti's previous 36-qubit system, Cepheus-1-36Q. The system is currently performing at a 99.1% median two-qubit gate fidelity with a gate speed of ~60 ns and a 99.9% median single-gate fidelity. Rigetti is releasing Cepheus-1-108Q now in response to growing customer interest, and will continue to improve the system performance throughout 2026 as the Company advances on its roadmap."OUTLOOK:Sealsqissued Q1 revenue guidance of $.1M and backed its FY26 revenue growth outlook of 50%-100%. The company said, "Sealsq ended Q1 2026 with clear commercial momentum, marked by scaled production, accelerated advancements in Post-Quantum innovation, expanding global partnerships, and solidified position as a leader in the emerging quantum-security infrastructure market. Q1 2026 revenue of approximately $4.1 million, represents a substantial increase of over 200% compared to its Q1 2025 revenue of $1.3 million. This acceleration reflects growing demand across Sealsq's traditional product portfolios and a continued expansion of the Company's pipeline."DILUTION CRYOSTATS:Inspira Technologiesannounced its entry into the quantum computing sector, targeting a connectivity bottleneck by directing its recently acquired additive manufactured electronics platform toward a new 3D architecture for systems operating in dilution cryostats. The company said, "As quantum computing scales toward larger system architectures, one of the field's most significant engineering bottlenecks lies in connectivity inside dilution cryostats. In these environments, interconnect density, thermal load, and electromagnetic crosstalk are becoming critical barriers to qubit coherence and system fidelity. Inspira's AME technology is designed to address these challenges, leveraging differentiated capabilities in 3D design, specialized materials, and precision additive manufacturing to create highly integrated structures that will support quantum system stability, reduce error rates, and accelerate the industry's path to fault-tolerant quantum computing. The AME technology, developed over years of intensive research and engineering with more than $200 million invested to date, has already demonstrated proof of concept in the quantum domain, specifically in qubit-related device integration. We believe that this validation substantiates the platform's material compatibility and micro-scale precision for quantum hardware applications, and Inspira now intends to leverage these capabilities to address connectivity limitations inside dilution cryostats." In parallel with its expansion into quantum technologies, Inspira will maintain a dedicated operational focus on advancing the commercialization of its existing medical portfolio. This includes the Inspira ART100 system and the development of the HYLA blood monitoring system as a stand-alone system. Inspira expects these activities to continue as part of its broader strategy as a dedicated subsidiary. The company intends to seek shareholder approval to formally change its corporate name to Qtrex.POST-QUANTUM CRYPTOGRAPHY CERTIFICATION:Sealsq and its subsidiary IC'Alps announced a series of advances in their common criteria security certification programs - including the successful completion of hardware security tests for the QS7001 Secure Element platform and the unqualified renewal of IC'Alps' site certification. "Independent evaluator SERMA has confirmed that Sealsq's QS7001 Secure Element passed fault injection and side-channel attack resistance testing - the most stringent physical security assessments in the Common Criteria evaluation process - with a final verdict of PASS. The result validates the platform's robustness against sophisticated, real-world attack vectors and marks a critical inflection point in Sealsq's post-quantum cryptographic hardware certification journey. In a concurrent development, IC'Alps successfully completed its Common Criteria certification renewal audit at its Grenoble design center, conducted by SERMA CESTI, confirming that IC'Alps will formally renew its CC certification. This outcome further strengthens Sealsq's consolidated certification perimeter and underscores the operational maturity of the Group's secure design capabilities."ANALYST COMMENTARY:Mizuho axed the price target on shares of Rigetti Computing, IonQand D-Wave Quantum. The firm remains positive on quantum computing over the long-term and still sees over 100% upside in the stocks. The group is in the "early stages of an inflection," the analyst told investors. Mizuho cited intensifying competition and ramping spending by all the leading players for the target cuts. D-Wave Quantum's price target was reduced to $33 from $43 and an Outperform rating on the shares was reiterated. IonQ's price target was cut to $61 from $80 and an Outperform rating was maintained on the shares. D-Wave Quantum's price target was lowered to $31 from $40 and an Outperform rating was kept on the shares.Cantor Fitzgerald lowered the firm's price target on Sealsq to $4 from $7 and reaffirmed an Overweight rating on the shares. The revised price target reflects a lower multiple, incorporating accelerated cash burn, warrant dilution risk, and slower-than-expected adoption of post-quantum security, the analyst told investors in a research note. While commercialization remains early-stage, long-term demand tailwinds are anticipated as enterprises and governments prepare for a quantum computing-driven security landscape, the firm said.