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The UK government has announced that it is backing the nation's first commercially available quantum computer to the tune of millions of pounds.

Quantum technology is estimated to offer 4 billion of economic opportunities globally by 2024 (and 341 billion through productivity gains in coming decades) - which will result in creation of new jobs, knowledge and skills in the United Kingdom, the government claims.

A Rigetti superconducting quantum computer is already commercially available in the Amazon Web Service (AWS) Bracket cloud, alongside other US-based systems using different approaches from D-Wave and IonQ. "This a key part of our plan to build back better using the latest technology, attract the brightest and best talent to the United Kingdom and encourage world-leading companies to invest here".

Pharmaceuticals, aerospace and transport are thought to be among the industries that will get maximum benefits from quantum computers. A recent BCG report projected the global quantum industry to reach 4B by 2024.

The University of Edinburgh will develop new techniques to test the hardware and the performance of the programmes that will run on the computer. Phasecraft will develop algorithms for energy, materials design and pharmaceutical purposes, while Standard Chartered Bank will look at financial applications.

It still sounds like early days in the development of a UK-based quantum computer - yesterday's investment kicked-off a three year development program.

"Oxford Instruments" new Proteox dilution refrigerator will be used as the cryogenic platform. "I am sure this collaboration will open a new future for many more innovative applications, and these applications will require an ecosystem where skills development, design & engineering excellence, and technology partners all combine to enable new discoveries and solutions', Simon added".

"We are excited to deliver the UK's first quantum computer and help accelerate the development of practical algorithms and applications", affirmed Rigetti Computing CEO Chad Rigetti. By providing access to quantum hardware, the collaboration aims to unlock new capabilities within the thriving United Kingdom ecosystem of quantum information science researchers, start-ups, and enterprises who have already begun to explore the potential impact of quantum computing.

The funding for the project forms part of the government's Quantum Technologies Challenge, which itself is led by the UK Research and Innovation public body, according to the press release.

Oxford Instruments plc published this content on 02 September 2020 and is exclusively responsible for the information contained therein. And more research should bring us closer to advanced quantum technologies and the grandest goal of quantum information science, creating a fault-tolerant quantum computer that can indefinitely compute without errors. The company's contributions range from underpinning mathematics through to developing software on real or emulated quantum hardware. It is hoped the quantum computer will provide better or quicker ways to solve problems in complex United Kingdom industries like pharmaceuticals, aerospace, and transport.

With over 100 academics, 120 research staff and over 1,600 students from over 80 countries worldwide the University of Edinburgh's School of Informatics is the largest European centre of its kind. It will also provide access to quantum computers for both research institutions and businesses.It is based at the Harwell Science and Innovation Campus in Oxfordshire. Standard Chartered's Data Science & Innovation group, with a proven research track record in quantum computing and machine learning/AI, has been active in quantum computing since 2017.

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Quantum computer to be hosted in Abingdon - ClickLancashire

Ten years ago, shares of International Business Machines (IBM) traded for $123.13. As I write these words, the stock trades for $123.01, the very definition of dead money.

The company's once formidable moat narrowed as the firm's legacy businesses declined. Consequently, this titanic tech firm trades for a pedestrian P/E multiple below 14 while other tech names lead the market.

But as is often noted by investing pundits, past performance does not predict future returns. While that oft reiterated line warns investors that high flying stocks can spiral to the ground, businesses that muddle along for extended periods can also change course for the better.

My 2014 article on Microsoft (MSFT) is testimony to an unloved company that outperformed the market by a 6 to 1 margin since that piece debuted.

While I'm unconvinced IBM will return to its former glory, I see developments that offer real hope. If the initiatives bear fruit, investors may reap rich rewards.

IBM is characterized as a "no growth" stock. If only that were true. The fact is the company's revenues dropped throughout the last decade. Peruse the chart below to view a business in decline.

Source: Metrics Macrotrends/ Chart by Author

Despite the loss of revenue, IBM still generates fairly robust FCF. Consequently, management mitigates share value losses through stock buybacks.

Source: Metrics Macrotrends/ Chart by Author

This year, IBM's revenue fell to $35.7 billion, dropping by 4%. Much of the decline is attributed to currency impacts and divested businesses. Additionally, the COVID-19 crisis reduced revenues from the global technology hardware and financial segments.

Meanwhile, the company's cloud and cognitive software business fared well. IBM's hybrid cloud revenues grew 34% in the second quarter after a 23% increase in Q1.

IBM once dominated the server market. While that heyday passed, the company's server offerings still rank among the top five in the industry. In Q4 of 2019, IBM was the 3rd largest server vendor with 8.3% of the global market.

IBM experienced a 17.6% growth in server revenues during that quarter while the two leaders, Hewlett Packard (HPE) and Dell Technologies (DELL) reported -3.4% and -9.9% revenue growth, respectively

Last August, the company unveiled its newest POWER processor. Using a 7nm manufacturing process, the POWER10 is designed to support 3X the number of users and workloads as the processor it replaces. Perhaps of greater importance is that the chip is designed to enhance IBM's Red Hat OpenShift platform.

The POWER10 chip will also improve AI inference performance ten to twenty-fold and provides enhanced security.

Source: Forbes

I don't view this as game changing news. Rather, I am providing an example of IBM's ability to compete against rivals in one of the company's legacy businesses.

Despite headwinds related to the pandemic, IBM notched double-digit YoY cloud revenue growth for four consecutive quarters.

Source: IBM/Chart by Author

Source: IBM/Chart by Author

While IBM's cloud growth does not match that of the company's three largest rivals, its growth is accelerating while that of AWS, Azure and Google Cloud is slowing.

Source: Venture Beat

Despite getting in the game late, IBM's cloud revenues (Q2 revenue $6.3 billion) are substantial when compared to its top rivals, Amazon's (AMZN) AWS (Q2 revenue $10.8 billion), Microsoft's (MSFT) Intelligent Cloud (Q4 revenue $13.4 billion) and Alphabet's (NASDAQ:GOOG)(NASDAQ:GOOGL) Google Cloud (Q2 revenue $3 billion).

IBM need not be the number one cloud provider to experience strong revenue growth. The global cloud market is projected to experience a CAGR of 17.5% over the next half decade, growing from roughly $370 billion today to $832 billion in 2025.

Source: MARKETSANDMARKETS

I posit IBM's client relationships often provide the company with an inside track in the competition for cloud customers. For example, Morningstar claims IBM holds 90% of the global mainframe market. In the US alone, the company has over 13,000 mainframe customers, and 47 of the Fortune 50 companies are IBM clients.

Last July, IBM announced a cloud initiative described as, "the world's first financial services-ready public cloud." In collaboration with Bank of America (BAC), the platform is designed to "address specific requirements of financial services institutions for regulatory compliance, security and resiliency."

This technology offers a speed and efficiency that's profound But this technology, like any technology for banks, is truly only accessible if it meets all the regulatory requirements for safety and soundness and other compliance obligations that banks have.

Eugene Ludwig, CEO Promontory Financial Group

BAC's work with IBM underlines the company's ability to leverage business relationships to woo cloud clients. IBM mainframes are the backbone of the globe's financial institutions, processing 87% of all credit card applications and 29 billion ATM transactions annually. The top ten financial institutions are customers of the firm.

Not only does IBM have an advantage due to its hardware being utilized by these companies, Big Blue also has an insider's understanding of the needs of financial firms. Consider this:

Accenture estimates financial services will lose $700 billion due to cyber-crime over a five year period.

...the financial services industry continually has the highest cost of cybercrime.

Chris Thompson, Accenture Security

From 2009 to 2017, $321 billion in fines were paid due to banks failing to meet financial regulations.

Once again, I use a recent development to illustrate the company's ability to compete against top rivals.

The chart below illustrates the magnitude of IBM's client relationships.

Source: Forbes

Before I outline the positives of quantum computing, let me advise readers of the obstacles in the way of this tantalizing development.

There are those that view quantum computing as an exercise in futility. Decoherence, a term used to describe error producing flaws created by vibrations, temperature fluctuations, electromagnetic waves and properties inherent in current quantum computers, could stand in the way of worthwhile results.

Furthermore, quantum computers are cooled to near absolute zero. This, and other design aspects, results in equipment much larger than mainframe models. Consequently, quantum computers will not be marketed to the average consumer.

Nonetheless, and despite formidable obstacles inherent in the development of these devices, recent events indicate quantum computing could be used by mainstream businesses in the foreseeable future. Furthermore, IBM is one of a handful of companies competing for the lead in this arena.

Early last year, IBM introduced the Q System One, the world's first quantum computer designed for scientific and commercial use. The company operated a forerunner of the Q System One since May of 2016. More than 100,000 users completed 6.47 million experiments resulting in the publication of 130 research papers on that equipment.

To appreciate the superiority of quantum computing, look no further than a recent exercise conducted by Google. That company's Sycamore quantum processor recently completed a problem in 200 seconds that would require a supercomputer 10,000 years to solve.

A day will likely come when companies without access to quantum computers will be incapable of competing in their fields. A prime example is the formulation of drugs.

The first step in designing a compound used to alter a disease pathway is to determine the electronic structure of the associated molecule. Penicillin contains 41 atoms and requires conventional computers to utilize 10 to the 86 bits to conduct the required research. That is a number that would require more transistors than the sum of all of the atoms in the universe. However, it is projected that a quantum computer will one day be capable of this level of computation.

For investors longing to take advantage of the opportunities inherent in this technology, be aware that the financial rewards associated with quantum computing are still over the horizon, albeit not so far away as to be beyond our reach.

Estimates have the industry generating $2 billion to $5 billion in revenues by 2024; however, as the technology improves, a virtual explosion in its use will materialize. Projections are for a CAGR of 56% from now to 2030 with the quantum computer market share reaching roughly $65 billion by that date.

I will readily admit I have not been a fan of IBM's former management teams. I also note I've read a great deal of commentary on SA by employees and customers of the company, past and present, indicating the firm is gripped by a systemic malaise. I will add that those with a bit of life experience can appreciate that a system wide ingrained business culture can be difficult to uproot.

There is some evidence that Arvind Krishna, the new CEO, is responsible for the positive steps IBM has taken in the cloud over the last few years. I would opine it is too soon to make a judgment on his ability to turn IBM into a leader in the tech industry.

However, hope springs eternal, and Krishna's leadership (or lack thereof) will be the determining factor moving forward.

IBM's current yield hovers around 5.1%. The payout ratio is a bit below 60% and the company has a five year dividend growth rate of 8.63%.

Moody's debt rates IBM as A2, roughly in the middle of investment grade credit ratings.

As I type these words, the shares trade for $123.86. The 12 month price target of 16 analysts is $139.07. The price target of the 6 analysts rating the company after the Q2 report is $142.66.

I do not claim that IBM stock is on the cusp of a monumental shift. Rather, I view developments as intriguing and worthy of perusal. The change in leadership, the company's efforts in the cloud, and the firm's position among the leaders of quantum computing lead me to believe IBM could regain a position as a tech leader. If so, there are big gains to be made in Big Blue.

Nonetheless, there is no clarity in these areas. Consequently, I rate IBM a HOLD.

Early this year, IBM's list of quantum computing clients passed 100, a surge from 40 the year before. The company predicts that 20% of business and government organizations will budget for quantum computing by 2023, an increase from less than 1% in 2018.

When considering this and the recent double-digit gains in the company's cloud offerings, I would not quibble with the idea that IBM presents as a Speculative Buy. With that in mind, I initiated a very small position in the company (about of 1% of my portfolio).

The company notched $1.4 billion in FCF in Q1 and $2.3 billion in Q2, so even if the hoped-for initiatives fail to gain momentum, I believe IBM will manage to muddle along, providing a safe dividend for the short to mid term.

I hope to continue providing articles to SA readers. If you found this piece of value, I would greatly appreciate your following me (above near the title) and/or pressing "Like this article" just below. This will aid me to continue to write for SA. Best of luck in your investing endeavors.

Disclosure: I am/we are long IBM. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I have no formal training in investing. All articles are my personal perspective on a given prospective investment and should not be considered as investment advice. Due diligence should be exercised and readers should engage in additional research and analysis before making their own investment decision. All relevant risks are not covered in this article. Readers should consider their own unique investment profile and consider seeking advice from an investment professional before making an investment decision.

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IBM: Why My Eye Is Fixed On Big Blue - Seeking Alpha

By Jenna Somers and Jane Hirtle

Margaret Martonosi, assistant director of Computer and Information Science and Engineering at the National Science Foundation, will speak at a virtual campus visit on Friday, Sept. 11, from 2 to 4 p.m. CT hosted by Vice Provost for Research Padma Raghavan. Faculty, students and staff are invited to register to attend the presentation and take part in an open discussion and Q&A session about CISE and its key focus areas, including cyberinfrastructure, computing and communication, computer and network systems and information and intelligent systems, as well as funding opportunities and NSF future directions in these areas.

Register for the event here. >>

I am pleased to welcome my close colleague Dr. Margaret Martonosi to Vanderbilt, said Raghavan, who serves as a member of the advisory boards for the CISE Directorate and the Office of Advanced Cyberinfrastructure. Margaret is a preeminent computer scientist who has made foundational contributions to computer architecture and hardware-software interfaces in both classical and quantum computing systems. Now as the assistant director of CISE, she stewards the development of strategy and programs to strengthen fundamental research and education in order to advance U.S. leadership in computing, communications and information science and engineering. I am delighted to welcome her to share her insights with the Vanderbilt community and join us in a roundtable discussion.

Under Martonosis guidance, CISE also strengthens innovation in research cyberinfrastructure and promotes inclusive, transparent participation in an information-based society to ensure the success of the computer and information technology workforce in the global market.

Along with the Office of the Assistant Director, CISE includes the Office of Advanced Cyberinfrastructure, Division of Computing and Communication Foundations, Division of Computer and Network Systems, and the Division of Information and Intelligent Systems. Each of these units manages a portfolio of proposal competitions and grants while collaborating across units and directorates to achieve the mission of CISE.

Noteworthy examples of CISE-funded programs include Broadening Participation in Computing Alliances, which aims to increase the diversity and amount of college graduates in computing and computationally-intensive disciplines; the Foundations of Emerging Technologies, which supports fundamental research in disruptive technologies and models in computing and communication; and the Big Data Regional Innovation Hubs, which engage state and local government officials, local industry and nonprofits and regional academic institutions to use big data research to address regional concerns.

Most recently, NSF partnered with the Department of Agriculture, the Department of Homeland Security and the Department of Transportation to launch the National Artificial Intelligence (AI) Research Institutes. As the name suggests, these institutes will serve to accelerate AI research nationwide, developing the U.S. workforce and protecting and advancing society across many aspects of daily life from education to natural disaster preparedness.

While serving as the assistant director of CISE, Martonosi is on leave from Princeton University, where she is the Hugh Trumbull Adams 35 Professor of Computer Science. Her research focuses on computer architecture and mobile computing. Martonosi has received numerous awards, including the 2019 SIGARCH Alan D. Berenbaum Distinguished Service Award, the 2018 IEEE Computer Society Technical Achievement Award, and the 2010 Princeton University Graduate Mentoring Award, among many others. Additionally, she is an elected member of the American Academy of Arts and Sciences and a fellow of the Association for Computing Machinery and the Institute of Electrical and Electronics Engineers.

Please visit CISE to learn more about its programs, funding opportunities and awards.

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Assistant director of NSFs Computer and Information Science and Engineering to give virtual talk Sept. 11 - Vanderbilt University News

Amazon (AMZN)

What was the last thing you heard about Amazon (AMZN)?

Let me guess. Its battle with Walmart WMT ? Or was it the FAAs approval of Amazons delivery drones? Most of this news about Amazons store is just noise that distracts investors from Amazons real force.

As Ill show, Amazon is running an operating system that powers some of todays most important technologies such as virtual reality, machine learning, and even quantum computing. Behind the scenes, it is utilized by over a million companiesincluding tech giants Apple AAPL , Netflix NFLX , and Facebook FB .

This is Amazons key and ever-growing moneymaker that has been driving Amazon stock to the moon. But before I pull the curtains, lets step back for a moment.

First, how Amazon makes moneyfor real

For all the online shopping fuss, Amazon doesn't earn much from its store. Yes, Amazon.com AMZN flips hundreds of billions of dollars worth of products every yearand its revenues are on a tear. But Amazon turns only a sliver of that into profits.

In the past year, Amazons store generated a record $282 billion in revenue from Amazon.com. That translated to just $5.6 billion in profitskeep in mind that was Amazon.coms most profitable year ever.

Meanwhile, most of Amazons profits came from the lesser-known side of its business called Amazon Web Services (AWS), as you can see below:

Amazon's profits from AWS vs Amazon.com

Its Amazons cloud arm that is serving over a million companies across the world. You may have heard that AWS has something to do with storing data in the cloud. But its much,muchmore than that.

AWS is the operating system of the internet

To get an idea of how AWS works, take your computer as an example.

Like every other computer, it runs on an operating system such as Windows or MacOS, which comes with a set of programs. This software puts your computer resources to use and helps you carry out daily taskssuch as sending emails or sorting out your files.

Now, think of AWS as an operating system thats running not one, but hundreds of thousands of big computers (in tech lingo: servers). It gives companies nearly unlimited computing power and storageas well as tools to build and run their software on the internet.

The difference is that these big computers sit in Amazons warehouses. And companies work on them remotelyor via the cloud. In other words, AWS is like the operating system of the internet.

Amazons operating system now powers AI, blockchain, and other next-gen technologies

In 2003, when Amazons AWS first started out, it offered only a couple of basic cloud services for storage and mail. Today, this system offers an unmatched set of 175+ tools that help companies build software harnesses todays top technologies.

The list includes blockchain, VR, machine learning (AI), quantum computing, augmented reality (AR), and other technologies that are the building blocks of todays internet.

For example, Netflix is using AWS for more than simply storing and streaming its shows on the internet. Its also employing AWS machine learning technology to recommend movies and shows to you.

Youve also probably heard of Slack (WORK), the most popular messaging app for business. Slack recently announced it will use Amazons media technology to introduce video and audio calls on its app.

And its not just tech companies that are utilizing Amazons AWS tools.

Take GE Power. The worlds energy leader is using AWS analytics technology to store and sift through avalanches of data from its plants. Or Fidelity. Americas mutual fund giant experiments with Amazons VR technology to build VR chat rooms for its clients.

In a picture, Amazons AWS works like this:

How Amazon's AWS powers the internet

Amazons AWS is earning more and more... and more

Amazon is not the only company running a cloud service. Google, Microsoft MSFT , Alibibaba, IBM IBM , and other tech giants are all duking it out for a slice of this lucrative business. But Amazon is the biggest and most feature-rich.

Today, Amazon controls 33% of the market, leaving its closest competitors Microsoft (2nd with 18%) and Google (3rd with 9%) far behind in the dust. That means nearly one third of the internet is running on Amazons AWS.

And it doesnt appear that Amazon will step down from its cloud throne anytime soon. Amazons sales from AWS soared 10X in the past six years. And last year, Amazon reported a bigger sales gain from AWS (dollar-wise) than any other cloud company.

Heres the main takeaway for investors

If you are looking into Amazon stock, dont get caught up in the online shopping fuss.

For years, AWS has been the linchpin of Amazons business. And this invisible side of Amazon is where Amazons largest gears turn.

Problem is, AWS is like a black box. Amazon reports very little on its operations. So if you want to dig deeper, youll have to do your own research.

Youll also have to weigh a couple of risks before putting your money into Amazon stock:

Other than that, Amazon is an outstanding stock, killing it in one of the most lucrative businesses on the planet. And its proven to be resilient to Covid, whose spread could hit the markers again.

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Every week, I put out a big picture story to help explain whats driving the markets. Subscribe here to get my analysis and stock picks right in your inbox.

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How Amazon Quietly Powers The Internet - Forbes

One of the goals of theSuperconducting Quantum Materials and Systems Centeris to build a beyond-state-of-the-art quantum computer based on superconducting technologies.The center also will develop new quantum sensors, which could lead to the discovery of the nature of dark matter and other elusive subatomic particles.

The U.S. Department of Energys Fermilab has been selected to lead one of five national centers to bring about transformational advances in quantum information science as a part of the U.S. National Quantum Initiative, announced the White House Office of Science and Technology Policy, the National Science Foundation and the U.S. Department of Energy today.

The initiative provides the newSuperconducting Quantum Materials and Systems Centerfunding with the goal of building and deploying a beyond-state-of-the-art quantum computer based on superconducting technologies. The center also will develop new quantum sensors, which could lead to the discovery of the nature of dark matter and other elusive subatomic particles. Total planned DOE funding for the center is $115 million over five years, with $15 million in fiscal year 2020 dollars and outyear funding contingent on congressional appropriations. SQMS will also receive an additional $8 million in matching contributions from center partners.

The SQMS Center is part of a $625 million federal program to facilitate and foster quantum innovation in the United States. The 2018 National Quantum Initiative Act called for a long-term, large-scale commitment of U.S. scientific and technological resources to quantum science.

The revolutionary leaps in quantum computing and sensing that SQMS aims for will be enabled by a unique multidisciplinary collaboration that includes 20 partners national laboratories, academic institutions and industry. The collaboration brings together world-leading expertise in all key aspects: from identifying qubits quality limitations at the nanometer scale to fabrication and scale-up capabilities into multiqubit quantum computers to the exploration of new applications enabled by quantum computers and sensors.

The breadth of the SQMS physics, materials science, device fabrication and characterization technology combined with the expertise in large-scale integration capabilities by the SQMS Center is unprecedented for superconducting quantum science and technology, said SQMS Deputy Director James Sauls of Northwestern University. As part of the network of National QIS Research centers, SQMS will contribute to U.S. leadership in quantum science for the years to come.

SQMS researchers are developing long-coherence-time qubits based on Rigetti Computings state-of-the-art quantum processors. Image: Rigetti Computing

At the heart of SQMS research will be solving one of the most pressing problems in quantum information science: the length of time that a qubit, the basic element of a quantum computer, can maintain information, also called quantum coherence. Understanding and mitigating sources of decoherence that limit performance of quantum devices is critical to engineering in next-generation quantum computers and sensors.

Unless we address and overcome the issue of quantum system decoherence, we will not be able to build quantum computers that solve new complex and important problems. The same applies to quantum sensors with the range of sensitivity needed to address long-standing questions in many fields of science, said SQMS Center Director Anna Grassellino of Fermilab. Overcoming this crucial limitation would allow us to have a great impact in the life sciences, biology, medicine, and national security, and enable measurements of incomparable precision and sensitivity in basic science.

The SQMS Centers ambitious goals in computing and sensing are driven by Fermilabs achievement of world-leading coherence times in components called superconducting cavities, which were developed for particle accelerators used in Fermilabs particle physics experiments. Researchers have expanded the use of Fermilab cavities into the quantum regime.

We have the most coherent by a factor of more than 200 3-D superconducting cavities in the world, which will be turned into quantum processors with unprecedented performance by combining them with Rigettis state-of-the-art planar structures, said Fermilab scientist Alexander Romanenko, SQMS technology thrust leader and Fermilab SRF program manager. This long coherence would not only enable qubits to be long-lived, but it would also allow them to be all connected to each other, opening qualitatively new opportunities for applications.

The SQMS Centers goals in computing and sensing are driven by Fermilabs achievement of world-leading coherence times in components called superconducting cavities, which were developed for particle accelerators used in Fermilabs particle physics experiments. Photo: Reidar Hahn, Fermilab

To advance the coherence even further, SQMS collaborators will launch a materials-science investigation of unprecedented scale to gain insights into the fundamental limiting mechanisms of cavities and qubits, working to understand the quantum properties of superconductors and other materials used at the nanoscale and in the microwave regime.

Now is the time to harness the strengths of the DOE laboratories and partners to identify the underlying mechanisms limiting quantum devices in order to push their performance to the next level for quantum computing and sensing applications, said SQMS Chief Engineer Matt Kramer, Ames Laboratory.

Northwestern University, Ames Laboratory, Fermilab, Rigetti Computing, the National Institute of Standards and Technology, the Italian National Institute for Nuclear Physics and several universities are partnering to contribute world-class materials science and superconductivity expertise to target sources of decoherence.

SQMS partner Rigetti Computing will provide crucial state-of-the-art qubit fabrication and full stack quantum computing capabilities required for building the SQMS quantum computer.

By partnering with world-class experts, our work will translate ground-breaking science into scalable superconducting quantum computing systems and commercialize capabilities that will further the energy, economic and national security interests of the United States, said Rigetti Computing CEO Chad Rigetti.

SQMS will also partner with the NASA Ames Research Center quantum group, led by SQMS Chief Scientist Eleanor Rieffel. Their strengths in quantum algorithms, programming and simulation will be crucial to use the quantum processors developed by the SQMS Center.

The Italian National Institute for Nuclear Physics has been successfully collaborating with Fermilab for more than 40 years and is excited to be a member of the extraordinary SQMS team, said INFN President Antonio Zoccoli. With its strong know-how in detector development, cryogenics and environmental measurements, including the Gran Sasso national laboratories, the largest underground laboratory in the world devoted to fundamental physics, INFN looks forward to exciting joint progress in fundamental physics and in quantum science and technology.

Fermilab is excited to host this National Quantum Information Science Research Center and work with this extraordinary network of collaborators, said Fermilab Director Nigel Lockyer. This initiative aligns with Fermilab and its mission. It will help us answer important particle physics questions, and, at the same time, we will contribute to advancements in quantum information science with our strengths in particle accelerator technologies, such as superconducting radio-frequency devices and cryogenics.

We are thankful and honored to have this unique opportunity to be a national center for advancing quantum science and technology, Grassellino said. We have a focused mission: build something revolutionary. This center brings together the right expertise and motivation to accomplish that mission.

The Superconducting Quantum Materials and Systems Center at Fermilab is supported by the DOE Office of Science.

Fermilab is supported by the Office of Science of the U.S. Department of Energy. The Office of Science is the single largest supporter of basic research in the physical sciences in the United States and is working to address some of the most pressing challenges of our time. For more information, visit science.energy.gov.

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Fermilab to lead $115 million National Quantum Information Science Research Center to build revolutionary quantum computer with Rigetti Computing,...