QBTS News & Events

Welcome to the latest edition of "Quantum Leap" where The Fly decodes news and activity in the quantum computing space.QUANTUM FUND:Sealsqannounced the expansion of its quantum fund to $200M, reinforcing its long-term commitment to building a secure and sovereign quantum technology ecosystem. To date, the fund has already deployed over $30M, with a target to close an additional $100M of investments through to the end of 2027.NEUTRAL ATOM QUANTUM COMPUTING:Google Quantum AI is expanding its quantum computing research to include neutral atom quantum computing, which uses individual atoms as qubits, alongside superconducting. The company said in a blog post, "At Google Quantum AI, our mission has always been clear: build quantum computing for otherwise unsolvable problems. For over a decade, we have pioneered the development of superconducting quantum bits, achieving milestones like beyond-classical performance, error correction and verifiable quantum advantage that once seemed decades away. We are now increasingly confident that commercially relevant quantum computers based on superconducting technology will become available by the end of this decade. Today, we are excited to share that Google Quantum AI is expanding our quantum computing effort to include neutral atom quantum computing, which uses individual atoms as qubits. Google will accelerate our timeline to near-term milestones and broaden our impact by exploiting the complementary strengths of two modalities. Superconducting qubits have already scaled to circuits with millions of gate and measurement cycles, where each cycle takes just a microsecond. Neutral atoms, meanwhile, have scaled to arrays with about ten thousand qubits. They make up for their slower cycle times - measured in milliseconds - with a flexible, any-to-any connectivity graph that allows for efficient algorithms and error-correcting codes. The road ahead reflects these distinct starting points: an outstanding challenge for neutral atoms remains demonstrating deep circuits with many cycles, while the next task for the superconducting modality is to demonstrate computing architectures with tens of thousands of qubits. In expert jargon, we often say that superconducting processors are easier to scale in the time dimension, while neutral atoms are easier to scale in the space dimension. Investing in both approaches increases our ability to deliver on our mission, sooner. By advancing both, we cross-pollinate research and engineering breakthroughs, and can deliver access to versatile platforms tailored to different types of problems. Our neutral atoms program is built on three critical pillars: Quantum Error Correction: Adapting error correction to the connectivity of neutral atom arrays, resulting in low space and time overheads for fault-tolerant architectures. Modeling and Simulation: Utilizing Google's world-class compute resources and model-based design to simulate hardware architectures, optimize error budgets and refine component targets. Experimental Hardware Development: Realizing the hardware capabilities to manipulate atomic qubits at application scale with fault-tolerant performance..."M&A:Sealsq announced that it has signed a letter of intent to acquire 100% of the equity interest of Miraex, a developer of photonics-based quantum interconnect solutions that bridge quantum processors and quantum networks. The LOI provides for a 60-day exclusivity period to conduct confirmatory due diligence and negotiate definitive transaction documents. The transaction is expected to be finalized by the end of June 2026. The transaction would be carried out using the Sealsq Quantum Fund. "Miraex represents exactly the kind of foundational quantum asset we have been seeking to complete our Quantum Vertical Stack," said Carlos Moreira, CEO. "Their photonics-based quantum interconnect solutions are not just complementary to our roadmap, they form a critical interconnect layer linking our quantum computing, quantum networking, and post-quantum cryptography capabilities into a more coherent architecture. Furthermore, the alignment with our QSOC initiative is compelling. Once the acquisition is completed, the integration of Miraex's technology is expected to accelerate our vision of extending quantum-secure infrastructure across terrestrial and space-based environments, strengthening the resilience and performance of our end-to-end platform."PODCAST:D-Wave Quantumwill launch a new podcast series, "Quantum Matters," on April 7. The podcast will feature conversations with industry leaders, researchers, academics and scientists on how quantum computing is applied across business and science today, and where the technology is headed. Hosted by Murray Thom, D-Wave's vice president of quantum technology evangelism, the podcast will examine how organizations are currently using quantum computing to solve computationally complex problems in areas such as manufacturing, supply chain, aerospace, life sciences and artificial intelligence.ANALYST COMMENTARY:Benchmark lowered the firm's price target on Rigetti Computingto $25 from $35 and kept a Buy rating on the shares. The firm recently hosted Rigetii's CEO Subodh Kulkarni and CFO Jeff Bertelsen for a fireside chat and "came away with increased confidence in the company's technology trajectory and strategic positioning," the analyst told investors. While the firm believes Rigetti's technology and pure play computing focus is "compelling," it lowers its price target to reflect the "malaise across the quantum sector."

Welcome to the latest edition of "Quantum Leap" where The Fly decodes news and activity in the quantum computing space.POST-QUANTUM COMPLIANT:Wecan is advancing its collaboration with Sealsqto build a post-quantum-compliant infrastructure. Beyond digital identity, Wecan is working closely with Sealsq to enable evolutions of its security infrastructure toward post-quantum compliance. The company said, "As quantum computing technologies continue to progress, many cryptographic algorithms in use today may become vulnerable over time. For financial institutions, this represents a long-term strategic risk: sensitive client data, transaction histories, and identity credentials must remain protected not only today, but for decades to come. Preparing for post-quantum security is therefore no longer optional, it is a necessity."ENCRYPTION SOLUTION FOR TELECOMMUNICATIONS:Arqit Quantumand RAD announced a collaboration to deliver a joint quantum-safe encryption solution for telcos, enabling them to offer quantum-safe business services such as site-to-site and site-to-cloud VPNs, as well as data center interconnect. This announcement follows the successful integration of Arqit's NetworkSecure quantum-safe encryption key generation technology with RAD's high-performance ETX Carrier Edge platform.EMBEDDED WORLD:Sealsq announced its participation in Embedded World 2026, alongside its ASIC design services subsidiary IC'Alps. Embedded World will take place from March 10-12 at the Exhibition Centre Nuremberg, Germany. Sealsq's booth will be themed around Formula One racing and its official partnership with the BWT Alpine Formula One Team.JAPAN EVENTS:Sealsq announced its strategic participation in upcoming events in Japan, supporting the Japanese government's timeline for quantum security transitions. With Japan's National Cyber Command Office targeting 2035 for full adoption of PQC across government systems, aligned with U.S. NIST guidelines and emphasizing hybrid cryptographic approaches to counter "harvest now, decrypt later" threats, Sealsq is positioned to deliver production-ready solutions like the QS7001 secure SoC and QVault TPM to facilitate seamless migrations for critical infrastructure, supply chains, and private sectors.ION TRAP:Researchers at Fermi National Accelerator Laboratory and the Massachusetts Institute of Technology's Lincoln Laboratory have successfully trapped and manipulated ions using in-vacuum cryoelectronics, allowing for reduced thermal noise and improved sensitivity. This proof-of-principle experiment marks an important advancement toward building large-scale ion-trap quantum computing systems. At the heart of the effort were Fermilab-developed cryoelectronics - specialized circuits designed to operate at the extreme cold temperatures required for quantum computers. These cryoelectronics were integrated into MIT Lincoln Laboratory's ion-trap platform to test whether they could reliably perform key functions: moving individual ions, holding them at set positions and measuring the effects of electronic noise. Rigetti Computingis partnered with Fermilab to build the quantum computer.QUANTUM KEP DISTRIBUTION:IonQannounced that it has deployed the technology powering the Romanian National Quantum Communication Infrastructure, or RoNaQCI. The company said, "This initiative represents one of the largest and most complex operational quantum key distribution networks in Europe and one of the largest of its kind outside of China."EARNINGS RECAP:Quantum-Sireported fourth quarter results on Tuesday surpassing last year's EPS mark, but falling short in revenue. Jeff Hawkins, CEO, said, "Since our Investor & Analyst Day in November 2025, engagement from both existing and prospective customers around Proteus has developed nicely. Given the level of customer, prospective customer, and channel partner interest, we elected to release our Proteus list price a quarter earlier than originally planned, allowing our commercial team to more effectively work with customers to incorporate Proteus into their capital budgeting cycles. At a list price of $425,000, we believe Proteus is priced to capture the premium value of the platform and expected launch capabilities while also making the platform accessible to a larger number of potential customers than existing technologies. As we move through 2026, we expect tempered near-term revenue based upon deliberate strategic choices. These include continuing to offer the placement program we initiated during 2025 and embedding upgrade credits into Platinum Pro units sold during 2026 to provide a clear path to Proteus for customers. While this approach moderates near-term revenue, we believe it positions Proteus for a stronger launch and supports long-term shareholder value creation."Quantum Computingbeat Street EPS expectations, but missed the mark in revenue in the fourth quarter. Yuping Huang, CEO, commented, "We are now seeing early customer engagement and revenue contribution from our foundry services and product portfolio as we continue progressing toward broad scale commercialization." Cantor Fitzgerald lowered the firm's price target on Quantum Computing to $10 from $15 and maintained a Neutral rating on the shares. Quantum can capture 5% of the quantum hardware, software, and services market by 2035, which would equate to $375M in sales in 10 years, the analyst told investors.D-Wave Quantummissed fell short of both EPS and revenue consensus in Q4. Alan Baratz, CEO of D-Wave said, "We are entering 2026 with exceptional momentum: generating over $30 million in Bookings in January alone, expanding our market leadership through the acquisition of gate-model quantum computing company Quantum Circuits, Inc., and securing an eight-figure enterprise QCaaS agreement that underscores growing customer confidence in our technology's power to transform enterprise operations. 2026 is shaping up to be a defining year for D-Wave." Roth Capital lowered the firm's price target on D-Wave Quantum to $30 from $40 and reiterated a Buy rating on the shares. The company reported "solid" Q4 bookings and indicated that 2026 bookings thus far have expanded significantly, the analyst said. Roth lowered the target to reflect incremental operating expenses from D-Wave's Quantum Circuits acquisition. However, the firm is "encouraged" by the company's "strong funding position in support of these investments."IonQoutperformed last year's fourth quarter in 2026. "I am pleased to share that IonQ has once again significantly outperformed our revenue guidance range, exceeding the midpoint by 55% for the fourth quarter and 20% for the full year by delivering $61.9 million and $130.0 million respectively," said Niccolo de Masi, chairman and CEO. "Our strategic evolution into the world's only full-stack quantum platform company, and strong organic growth, positions us with continued momentum to achieve $235 million in revenue for 2026, at our current guidance midpoint. 2025 was a year of tremendous accomplishments and both a strategic and financial inflection point for IonQ. We became the first public quantum company in history with more than $100 million in GAAP revenue. We tripled our annual revenue and accelerated to a semiconductor-based roadmap for our industry-leading quantum computers. We expanded and deepened our platform into quantum networking, quantum sensing, and quantum security. We have now integrated our capabilities to create powerful operating momentum into 2026."DA Davidson lowered the firm's price target on IonQ to $35 from $55 and kept a Neutral rating on the shares after its Q4 results. The firm continues to believe that as more computationally complex workloads arise in the near-to-medium term, quantum systems will have an increasingly larger role in how we tackle these problems but it also recognizes that the field is "still heavily constrained by limited applied research and external investment in the space", the analyst told investors in a research note.