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Quantum computing hardware developer Alice & Bob and academic partners ENS de Lyon and Mines Paris-PSL today announced the receipt of a 16.5 million innovation grant, a France 2030 initiative operated by Bpifrance, France's public investment bank.

Alice & Bob is based in Paris and Boston and is working to create the first universal, fault-tolerant quantum computer. Founded in 2020, the company has raised 30 million in funding, hired over 95 employees and demonstrated experimental results surpassing those of technology giants such as Google or IBM.

Alice & Bob specialises in cat qubits, a pioneering technology developed by the company's founders and later adopted by Amazon.

The funded project, called "Cat Factory," brings industry and government partners to tackle quantum computing's critical issues across various enabling technologies, including nanofabrication, chip design and validation, digital tools and electronic control.

The research from the three partners aims to accelerate quantum computing by enhancing the efficiency of the entire stack, reducing costs, and accelerating market readiness.

The goal is to develop a new optimised architecture for fault-tolerant quantum computing by 2027 that will allow the following:

Reduction of the number of control lines per cat qubit from 4.5 to 2 Reduction of the readout lines per cat qubit from 1 to 0.2

To achieve this degree of optimisation, the infrastructure of enabling technologies surrounding the Quantum Processing Unit (QPU) will be updated to: Increase the number of analogue ports per rack from 60 to 180, dividing the footprint of control electronics by three. Increase control lines per cryostat from 200 to 2000 using next-generation cabling technology.

According to Theau Peronnin, CEO of Alice & Bob:

"We are honoured to be entrusted with making quantum computing useful earlier. Our plan, centred around cat qubits, addresses the real challenges of quantum computing headfirst, enabling massive savings in energy and end-user costs."

The projected cost of quantum computation due to cryogenics and the control of large sets of qubits presents a barrier to widespread adoption. Alice and Bob will use the funding to optimise quantum computation, from design to manufacturing and infrastructure, to make quantum computers ten times cheaper to build and ready for market three years earlier.

"Quantum computing algorithms require hundreds of logical qubits, which translates to thousands to millions of physical qubits," said Florent Di Meglio, the project's lead at Mines ParisPSL.

"Cat Factory aims to reach 100 logical qubits with only three cryostats, a dramatic reduction in the hardware needed for running a useful quantum computer."

To achieve this goal, the partners will work on the whole quantum computer architecture and the infrastructure of enabling technologies surrounding it. The project's cornerstone, the cat qubit, already reduces the number of physical qubits required to build a logical one by a factor of 60.

Paul-Franois Fournier, Executive Director, ofInnovation at Bpifrance, shared:

"We are delighted to support Alice & Bob in its development, which aims to accelerate quantum computing's progress. This support reflects Bpifrance's strong ambitions in terms of disruptive innovation."

Lead image: Alice & Bob.

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Alice & Bob and partners awarded 16.5M to slash quantum computing costs - Tech.eu

Quantum startup Alice & Bob has received a 16.5 million ($17.8 million) innovation grant from Frances public investment bank, Bpifrance.

The French startup is the first company to receive all four innovation grants from Bpifrance and the funds will be used to finance a 36-month project that will see the company enhance the efficiency of its quantum stack, reducing manufacturing costs and time to market.

The deal has been endorsed by the office of Prime Minister Gabriel Attal.

Dubbed Cat Factory after cat qubit technology, the project will bring together industry, government, and academic partners from ENS de Lyon and Mines Paris (PSL) to address a number of critical issues related to quantum computing, including nanofabrication, chip design and validation, digital tools, and electronic control.

The team is aiming to develop a new optimized architecture for fault-tolerant quantum computing by 2027 that will allow a reduction in the number of control lines per cat qubit from 4.5 to 2, and a reduction in the readout lines per cat qubit from 1 to 0.2.

In order to achieve this, the Quantum Processing Unit (QPU) architecture will be updated to increase the number of analog ports from 60 to 18 per rack, and increase the number of control lines per cryostat from 200 to 2000.

Quantum computing algorithms require hundreds of logical qubits, which translates to thousands to millions of physical qubits, said Florent Di Meglio lead on the project at Mines Paris, PSL. Cat Factory aims to reach 100 logical qubits with only 3 cryostats, a dramatic reduction in the hardware needs for running a useful quantum computer.

Theau Peronnin, CEO of Alice & Bob, added: We are honored to be entrusted with the task of making quantum computing useful earlier. Our plan, centered around cat qubits, addresses the real challenges of quantum computing headfirst, enabling massive savings in energy and end-user costs.

Founded in 2020, Alice & Bob has already raised 30 million across six funding rounds to develop a fault-tolerant quantum processor.

Earlier this month, the company was given access to 500 million in funding after being invited by the French Ministry for Armed Forces to participate in the countrys PROQCIMA initiative.

Those project participants will work to deliver a universal fault-tolerant quantum computer demonstrator with 128 logical qubits by 2030, and its industrialization into a 2048-logical-qubits computer by 2035.

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Quantum startup Alice & Bob receives innovation grant to make quantum computing cheaper - DatacenterDynamics

Chattanooga State Community College will take a deep dive into the world of quantum computing alongside physics and computer science expert Dr. Shohini Ghose.

On April 3, Dr. Ghose will join ChattState students, faculty, and members of the Chattanooga community virtually to discuss the emerging field of quantum computing. The event will kick off at 9:30 a.m. with coffee and pastries followed by Dr. Ghoses presentation at 10 a.m. The lecture is titled Preparing for Quantum 2.0.

The reception and lecture will be held in BRANCH 30 on the ChattState main campus. A live stream of the lecture will also be accessible on YouTube.

Dr. Ghose is a professor of Physics and Computer Science at Wilfrid Laurier University. Her areas of expertise include quantum computing, quantum communication, and classical and quantum chaos.

The event is hosted by ChattStates Honors Program, said organizer Dr. Angie Wood, professor of social and behavioral sciences and director of ChattState Honors.

Dr. Wood said she challenged honors students last year to research the field of quantum computing and find an expert to speak on campus. They ultimately chose to invite Dr. Ghose after viewing her TED Talk titled A Beginners Guide to Quantum Computing.

Dr. Wood said offering educational opportunities outside of the classroom is one way ChattState gives students opportunities to further their futures and broaden their horizons.

College is about more than just going to class. It's also about networking and the contacts that you gain outside of the classroom, she said. "You never know when you will walk into an event like this and realize its what youre passionate about.

The event is presented alongside the Chattanooga Quantum Collaborative, a local organization that aims to use quantum technology to improve the local workforce, economy, and infrastructure.

The organization is supported by several founding members: EPB, the City of Chattanoga, TVA, UTC, Oak Ridge National Lab, Hamilton County, ChattState, Chattanooga Area Chamber of Commerce, Company Lab, Hamilton County Schools, and Qubitekk.

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Chattanooga State Takes A Quantum Leap With Expert Insights Into The Future Of Computing - Chattanooga Pulse

There are some quantum computing stocks to buy for March that I think could lift off to new heights.

Quantum computing is an emerging and potentially revolutionary technology that could have a profound impact on various industries and fields. The market potential for quantum computing is immense. It is widely regarded as one of the most promising technological advancements of the 21st century.

The great thing about these companies is that many of them are speculative investments and therefore trade at attractive valuations. I think that these companies are primed for the next bull run. As the Nasdaq moves higher, so too will these options.

So, here are three quantum computing stocks for investors to consider for March this year.

Source: Amin Van / Shutterstock.com

IonQ (NYSE:IONQ) distinguishes itself as a pure-play quantum computing company. They have a strong focus on developing trapped ion quantum computers.

For this year, it projects its revenue for the full year 2024 to range between $37 million and $41 million. Its bookings are expected to be between $70 million and $90 million. For the first quarter of 2024, revenue is forecasted to be between $6.5 million and $7.5 million. Despite these projections, IONQ anticipates an adjusted EBITDA loss of $110.5 million for 2024.

The companys performance in 2023 set a strong foundation for these forecasts. They had significant achievements including hitting $65.1 million in bookings for the year, exceeding the upper end of its guidance. This represents a 166% growth compared to the previous year. The revenue for 2023 was reported at $22.042 million, a substantial increase from $11.131 million in 2022

I see the projected loss as potentially being a good thing for IONQ investors. This could keep its valuation down to acceptable levels. Due to its small market cap of 1.9 billion, it could rise significantly along with the broader market amid a bull run.

Source: Bartlomiej K. Wroblewski / Shutterstock.com

Rigetti Computing (NASDAQ:RGTI) is known for developing quantum integrated circuits. They also offer a cloud platform that supports quantum algorithm development.

In my opinion, RGTI is one of the more underestimated companies in this list. This is because it has an angle of offering more of the picks and shovels to the quantum industry rather than being a pure-play option than IONQ. Investing in RGTI could then give one more indirect than direct exposure to the industry. This could be a strong diversifier.

In terms of outlook and developments, RGTI made significant progress in 2023, including the deployment of the 84-qubit Ankaa-2 quantum computer, which achieved a 98% median 2-qubit fidelity and a 2.5x improvement in error performance compared to its previous quantum processing units (QPUs).

Underscoring why I believe that it could be a strong contender, analysts have given RGTI a Moderate Buy rating, with a consensus price target of $2.75, indicating a potential upside of 71.34% to be reached within the next twelve months.

Source: JHVEPhoto / Shutterstock.com

IBM (NYSE:IBM) extends its influence in quantum computing beyond hardware.

I chose IBM for investors who want a well-diversified blue-chip investment rather than the more speculative companies on this list. Although its potential for capital growth may be lower, I feel that with its dividend yield of 3.52% at the time of writing, this makes it a solid and safer choice.

IBM is also expanding its global footprint in quantum computing with the establishment of its first European quantum data center in Germany, set to open in 2024. This facility will enable users in Europe to access IBMs quantum computing systems and services.

Hardware-wise, IBM has introduced advanced processors like the 133-qubit Heron and the 433-qubit Osprey. Meanwhile, On the software front, IBM is evolving its Qiskit platform with updates that promise to increase the ease of quantum software programming.

IBM then has many forks in the fire to take advantage of the rise of quantum computing, which along with its stability and dividend yield, makes it one of those stocks that could rise in a bull run. If you are looking for quantum computing stocks to buy, you cant go wrong with these.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.

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3 Quantum Computing Stocks to Buy for the Next Bull Run: March 2024 - InvestorPlace

Quantum computing has gained significant attention for its potential to revolutionize computational processes across various industries. In the CAE field, quantum speed-up using quantum computers holds promise as a crucial application area. However, the practical impact and challenges of implementing quantum computing in the industry are still under research.

This event will feature discussions on computational challenges in the CAE field and explore potential applications and impact of quantum computing and comparison to classical computing under two paradigms: the NISQ (Noisy Intermediate-Scale Quantum) era and the FTQC (Fault-Tolerant Quantum Computing) era.

Our intention for this workshop is to foster vibrant discussions by inviting industry experts from global leading companies such as JX Nippon Oil & Gas Exploration, Murata Manufacturing Co., Bridgestone Corporation and others.

"We are excited about the potential impact that quantum computing can bring to augment our efforts in oil and natural gas development, as well as our CCS/CCUS projects. Specifically, we have high expectations for the benefits derived from applying quantum computing to calculations related to fields such as fluid dynamics and electromagnetics," said a participant from JX Nippon Oil & Gas Exploration.

"There is a series of processes related to the manufacture of electronic components, such as material development, product design, and solution engineering. We extensively utilize computational science and technology including simulation of these processes. We would like to explore together how we can incorporate quantum computing in our business and leverage its potential," said a participant from Murata Manufacturing Co., Ltd.

"In the field of CAE, including fluid simulation, structural analysis, and similar processes, the use of quantum computing is anticipated to enable the solution of exponentially complex problems within realistic timeframes. However, despite these expectations in theory, numerous challenges must still be addressed to realize industrially valuable applications. In this workshop, we aim for participants to gain a thorough understanding of the challenges associated with applying quantum computing to CAE. Additionally, we seek insights from participants regarding the potential utilization of quantum computing based on its characteristics in their respective businesses. By doing so, we hope to accelerate research and development geared towards industrial applications. We are excited about the prospect of advancing this meaningful initiative, forging collaborations with experts and stakeholders. If you have an interest in applying quantum computing to the field of CAE, please feel free to reach out to us," said Keita Kanno, CTO of QunaSys.

The workshop is open to professionals, researchers, and executives in the CAE field interested in harnessing the potential of quantum computing.

SOURCE QunaSys Inc.

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QunaSys to Host Workshop on Exploring Quantum Computing Applications in the CAE Field - PR Newswire