The new breakthrough in quantum computing has not much to do with computers, but more or less to do with numbers.
On Tuesday, Honeywell Quantum Solution, the quantum computer development arm of Honeywell International, and Cambridge Quantum Computing announced that they have completed the merger. By finalizing the contract, Quantinuum is currently the largest independent corporation in quantum computing.
Many other companies, including IBM, Amazon and Alphabet are active in the field of quantum computers, but these are all projects of giant corporations.
Holding 54% of the shares, Honeywell has enough power to decide to establish a new company, in the hope of attracting more investors. At the same time, the management of Quantinuum will have more freedom in researching areas related to quantum computers, regardless of hardware or software technology.
“The establishment of Quantinumm creates an important milestone in the quantum computing industry,” Honeywell CEO Darius Adamczyk said in the official statement. “Quantinuum customers will be able to use the quantum operating system for the first time, applications and software that can run on a variety of hardware.“.
The company currently has 400 employees, working in offices located in the UK and the US.
Quantum computing technology is still new and mysterious. As far as science is concerned, it operates according to the laws of quantum physics. Traditional computer technology stores information in bits – the two characters 0 and 1, the language that underpins the digital world. The difference of quantum computers lies in the way they are stored in quantum bits.
Essentially, a single q-bit unit can represent both 0 and 1 at the same time. The strange process allows quantum computers to do things that are impossible with traditional computers, like solve problems. The problem is so difficult that quantum computers take hundreds, thousands of years to solve.
Researchers often mention three potential areas of application, including drug molecular design, digital security and optimization of problem solving. The list of applications will grow longer as new research continues to emerge, improving hardware will help software achieve greater compatibility.
That is also the goal of Continuum. The company needs capital, but has not yet publicly issued shares. Company President Tony Uttley said investors will receive more relevant information in the coming months, but did not say with certainty what the future holds.
Investors won’t have to wait long, as an IPO would be the next logical step for Continuum, said data analyst Daniel Newman at Futurum Research. Newman cited evidence from the past, when the quantum computer segment in a multi-industry company did not have much of a say in future projects, creating an atmosphere of apprehension and a feeling of insecurity when investing in the future. quantum.
As quantum projects and services become more popular with the public, the entire research industry will receive the necessary push to develop, investors will also be free to evaluate the quantum market. Up to now, an estimated $8.5 billion has found its way into the nascent market, but has seen more than 240 quantum computer startups emerge.
This is good news for investors in the red of the stock market, down on news regarding the Omicron variant. Honeywell’s stock value fell 2.3% shortly after the announcement of Continuum’s founding.
According to Barrons