A BBVA and Zapata Computing study shows the potential of quantum computing for derivative calculations

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Monte Carlo simulations are widely used in the financial industry in everything, from policy making and risk assessment processes to financial product pricing calculations. “We wanted to understand whether quantum computing could help us improve how we approached these calculations, starting with a very specific problem that can be solved using Monte Carlo, such as the calculation of credit valuation adjustments”, said Andrea Cadarso. This project – led by Cadarso, head of Quantitative & Business Solutions, BBVA Mexico – is one of the research initiatives launched by the Research & Patents area of BBVA in 2019 to explore the potential applications of quantum computing in the financial sector. As of today, establishing the valuation and pricing of certain derivative products remains a daunting task: “Finding the right price of...

Zapata Computing and KAUST Partner to Bring Quantum

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BOSTON, March 23, 2021 (GLOBE NEWSWIRE) -- Zapata Computing, Inc., the leading enterprise software company for NISQ-based quantum applications, today announced a new partnership with Middle East-based King Abdullah University of Science and Technology (KAUST) to be a licensed user of Zapata’s Orquestra®, the modular, workflow-based platform for applied quantum computing. KAUST is examining various lines of research to determine how quantum technologies could represent an advantage over classical compute tools in a variety of Computational Fluid Dynamics (CFD) use cases for airplane and automobile aerodynamic design. Currently, CFD computations are extremely time-consuming and expensive to run. The simulation process is inefficient, and a lot of time is wasted trying to model air flow around wings and engines more efficiently. Boosting...

Zapata Computing Announces $38 Million Funding for Series B

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BOSTON, Nov. 19, 2020 (GLOBE NEWSWIRE) -- Zapata Computing, Inc., the leading enterprise software company for NISQ-based quantum applications, today announced it has received $38 million in Series B funding, bringing the total investment to over $64 million. This funding round was led by Comcast Ventures, Pitango and Prelude Ventures, with the support of additional existing Series A investors, including BASF Venture Capital, Robert Bosch Venture Capital and The Engine, as well as the commitment of new investors, including Ahren Innovation Capital, Alumni Ventures Group, Honeywell Venture Capital, ITOCHU Corporation and Merck Global Health Innovation Fund. This financing testifies to the investors’ belief in the promise of quantum computing as well as Zapata’s significant progress since its Series A financing last year. In...