Goldman Sachs moves a step closer to quantum computing

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Goldman Sachs has been working with technology companies to rewrite algorithms so they can run on quantum computers expected to roll out over the next two to four years. Like all big banks, the $1.3 trillion-asset Goldman has teams of math geniuses, also known as quantitative analysts, who create algorithms that do things like calculate risk and price derivatives. Their models consume massive amounts of computing power and still have to be run overnight in some cases. Quantum computing, in theory, could be used to solve complex mathematical problems much faster than traditional computers. IBM says it will have a 1000-qubit quantum computer by 2023. Goldman is not alone in this work. Barclays and JPMorgan Chase have been experimenting with IBM’s quantum computers since...

High-Performance Computing Market Size to Reach USD 66.46 Billion in 2028

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Vancouver, British Columbia, April 19, 2021 (GLOBE NEWSWIRE) -- The global high-performance computing (HPC) market size reached USD 41.07 Billion in 2020 and is expected to register a significant CAGR of 6.3% during the forecast period, according to latest analysis by Emergen Research. Major factors driving market revenue growth are rising need to streamline business processes, growing prominence of cloud computing coupled with rapid digitization trend. Another key factor further expected to augment revenue growth of the global high-performance computing (HPC) market in the near future is increasing adoption of high-performance computing in government entities. High-performance computing systems' capability to handle vast volumes of data at high speed is a key factor resulting in high deployment rate among government entities. Claim Your FREE...