Xanadu Lands $100 Million as Investments Pour Into Quantum Computing

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Xanadu Quantum Technologies Inc., which aims to commercialize quantum computing using particles of light, has raised $100 million in new funding as investor interest in the industry heats up.On Tuesday, Xanadu announced a Series B funding led by Bessemer Venture Partners, one of Silicon Valley’s oldest such firms. Funding to date for the five-year-old company now totals $145 million, said Christian Weedbrook, founder and chief executive of Xanadu. Quantum computing has the potential to solve some problems many millions of times faster than a conventional computer, which is why major technology companies and startups are working to commercialize it using various approaches. Traditional computers store information as either zeros or ones. Quantum computers use quantum bits, or qubits, which represent and...

Amazon’s Bid to Recover JEDI Cloud Computing Contract Stays Alive

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WASHINGTON— Amazon. com Inc.’s bid to win back the Pentagon’s JEDI cloud computing contract stayed alive Wednesday as a federal judge rejected motions by the Defense Department and Microsoft Corp. to dismiss much of Amazon’s challenge of the contract award. Judge Patricia Campbell-Smith of the U.S. Court of Federal Claims rejected the motions, according to a court docket entry. Her opinion and order in the case weren’t made public immediately, making the extent of the government’s legal defeat unclear. The move is significant nonetheless because it opens the door to continued protracted court battles over the Joint Enterprise Defense Infrastructure, or JEDI, contract. ...

Quantum computing is so last-decade. Get ready to invest in the final frontier… teleportation

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If 2020 had you wishing you could say “Beam me up, Scotty,” you’re not alone. You may be one tiny step closer to getting your wish… in a few decades or so. Scientists from Fermilab, Caltech, NASA’s Jet Propulsion Laboratory and the University of Calgary achieved “long-distance quantum teleportation” in mid-2020, they confirmed in an academic journal article published last month. It’s another step toward realizing what’s often called quantum computing, and also toward understanding physics on a different level than we do now, perhaps well enough to someday teleport humans. And while there is no ETF specifically for that yet, here are some broad guidelines for thinking about how to invest in very nascent technologies. For starters, it’s good to understand the broad contours of the industry supporting the idea. A...

Opinion: Quantum computers’ power will remake competition in industries from technology to finance

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Quantum computers, once fully scaled, could lead to breakthroughs on many fronts — medicine, finance, architecture, logistics. First, it’s important to understand why quantum computers are superior to the conventional ones we’ve been using for years: In conventional electronic devices, memory consists of bits with only one value, either 0 or 1. In quantum computing, a quantum bit (qubit) exhibits both values in varying degrees at the same time. This is called quantum superposition. These ubiquitous states of each qubit are then used in complex calculations, which read like regular bits: 0 and 1. Since qubits can store more information than regular bits, this also means quantum computers are capable of processing greater quantities of information. Having four bits enables 16 possibilities, but only one at a time. Four qubits in...