Germany to support quantum computing with 2 billion euros

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BERLIN (Reuters) - Germany will spend about 2 billion euros ($2.4 billion) to support the development of its first quantum computer and related technologies in the next four years, the economy and science ministries said on Tuesday.FILE PHOTO: German Economy Minister Peter Altmaier addresses a news conference in Berlin, Germany, April 27, 2021. John Macdougall/Pool via REUTERSThe science ministry will spend 1.1 billion euros by 2025 to support research and development in quantum computing, which uses the phenomena of quantum mechanics to deliver a leap forward in computation.The economy ministry will spend 878 million euros backing practical applications.Germany’s Aerospace Center (DLR) will receive the bulk of the subsidies - about 740 million euros - to team up with industrial companies, medium-sized enterprises and start-ups to forge two...

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...

Finnish quantum computing firm IQM raises $46 million

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Nov 10 (Reuters) - Finnish quantum computing technology firm IQM has raised 39 million euros ($46 million) from investors including MIG and Tencent to boost its position in the emerging industry, it said on Tuesday.IQM, founded in 2018, develops quantum computers for research laboratories and computing centres, and has now raised a total of 71 million euros - making it one of the best-funded European firms in the sector.“Europe is ideally positioned to become a quantum leader for the future. Our decades of investment in science and research which are needed to power quantum breakthroughs play to our strengths,” it said.Quantum computers could operate millions of times faster than today’s advanced supercomputers. The technology is based on quantum bits, or qubits, that exponentially increase the amount of information that can be...