Technology  June 5, 2024

Quantinuum computer outperforms benchmark 100x

BROOMFIELD — Quantinuum LLC, a Broomfield company spun out of Honeywell International Inc. (Nasdaq: HON), says its new quantum computer has demonstrated the ability to outperform an industry benchmark for computing power set by Google in 2019.

The performance of H2-1, the first quantum computer with 56 trapped-ion qubits, cannot be simulated by the world’s most-powerful traditional supercomputers, the company determined during a recent demonstration run jointly by a team of Quantinuum and JPMorgan Chase & Co. (NYSE: JPM) staffers.

“We’re extending our lead in the race towards fault tolerant quantum computing, accelerating research for customers like JPMorgan Chase in ways that aren’t possible with any other technology,” Quantinuum CEO Rajeeb Hazra said in a prepared statement. “Our focus on quality of qubits versus quantity of qubits is changing what’s possible, and bringing us closer to the long-awaited commercialization of quantum’s applications across industries like finance, logistics, transportation and chemistry.”

JPMorgan Chase invested $300 million in Quantinuum in January to help the Broomfield company commercialize its quantum technology. 

“The fidelity achieved in our random circuit sampling experiment shows unprecedented system-level performance of the Quantinuum quantum computer. We are excited to leverage this high fidelity to advance the field of quantum algorithms for industrial use cases broadly, and financial use cases in particular,”  JPMorgan head of global technology applied research Marco Pistoia said in a statement. 

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