Quantum Computing Inc (OTCQB:QUBT), an advanced technology company developing quantum-ready applications and tools, said Wednesday that it is set to gain as it has entered the key commercialization phase as the “only public pure-play in the quantum computing space.”
The Leesburg, Virginia-based company has kicked off the official commercial launch of its Mukai quantum computing software execution platform. Last week, the company introduced a new trial access program that demonstrates Mukai’s power to solve real-world problems.
Quantum’s stock recently traded 1.3% higher to $3.91 a share in New York.
According to the company, the trial will enable developers to discover how they can migrate their existing applications to quantum-ready solutions and realize superior performance even when running their solutions on classical Intel or AMD processor-based computers.
“The trial is designed to encourage and facilitate quantum application development to solve real world problems at breakthrough speed — and not tomorrow, but today,” the company said in a statement.
Building the ace team
Quantum is staffed by experts in mathematics, quantum physics, supercomputing, financing and cryptography. Midway through last year, the company hired Michael Booth as its new chief technology officer and Steve Reinhardt as vice president of product development.
“There are only a handful of quantum software experts in the world, and fortunately for us, this includes Mike and Steve," commented Quantum CEO Robert Liscouski. “They have been doing an outstanding job building out our software engineering teams, developing our first quantum-ready products, and preparing QCI for commercial success.”
Quantum kicked off 2020 with the public release of its first quantum-ready software product, the QCI Quantum Asset Allocator (QAA). “This solution is designed to help portfolio managers maximize returns by calculating their optimal asset allocations,” said the company.
QAA is the first of a series of Quantum products that will leverage quantum techniques to provide differentiated performance on both classical computers and on a variety of early-stage quantum computers, added the company. Naturally, Quantum is looking to convert its QAA beta users into long-term customers.
“The core of our strategy has been to anticipate the direction of the market and be ahead of it by offering unique solutions that establish QCI as a market leader,” said Liscouski. “We will be driven by the market, but in turn will drive the market by helping our customers realize their quantum-enabled future.”
The company said that while quantum computing is typically “a high-dollar investment” given the "sophisticated and costly hardware," Mukai makes quantum application development “affordable and scalable” compared to running solutions on intermediate quantum computers, like those offered by D-Wave, Fujitsu, IBM and Rigetti.
Mukai addresses the quantum computing market which is tipped to grow at a 23.2% compound annual growth rate to $9.1 billion by 2030, according to Tractica.
Contact the author Uttara Choudhury at [email protected]
Follow her on Twitter: @UttaraProactive