Today’s Brief Commentary:
I’ve been traveling in the UK this week to attend and speak at the Economist Impact 4th annual Commercialising Quantum Global 2025 conference in London. It was a great event as usual, with roughly 25% of the 82 quantum computing vendors exhibiting and two days of talks and discussions. Thank you to Economist Impact for the use of the photo above.
In addition to the usual collection of curated links to significant and/or interesting developments in the quantum industry, I’m also pointing you to my write-ups on the most recent earnings reports from D-Wave Quantum, IonQ, and Rigetti Computing. They certainly had different revenue, competitiveness, and diversification quarters. Classiq also made the financial news category this time with their considerable $110M Series C funding.
Don’t forget to check out and bookmark our new sortable list of upcoming quantum technology conferences.
The latest Sutor Group report is freely available online: Quantum Processing Unit (QPU) Market Landscape (Abridged) – April 3, 2025. Updates and the full report are available for purchase or by subscription. Contact us for details.
Contents
Earnings Announcements and Financial Dealings
Sutor Group Earnings Brief: IonQ Announces Financial Results for Q1 2025 – Sutor Group
Author: Bob Sutor
Date: Thursday, May 8, 2025
Excerpt: IonQ announced its Q1 2025 earnings and financial results on Wednesday afternoon. Here’s my take on their announced acquisitions, revenue picture, asset position, and diversification strategy.
Sutor Group Earnings Brief: D-Wave Quantum Announces Financial Results for Q1 2025 – Sutor Group
Author: Bob Sutor
Date: Friday, May 9, 2025
Excerpt: D-Wave announced its Q1 2025 earnings and financial results on Thursday morning. Here are my comments on their strong financials, with some free, unsolicited, and straightforward advice on how to market themselves better.
Classiq Raises $110M in Largest-Ever Quantum Software Funding Round
https://www.classiq.io/insights/classiq-raises-110m-in-largest-ever-quantum-software-funding-round
Date: Monday, May 12, 2025
Excerpt: Classiq today announced raising $110 million in Series C funding, the largest ever for a quantum software company. The round was led by Entrée Capital, with participation from Norwest, NightDragon, Hamilton Lane, Clal, Neva SGR, Phoenix, Team8, IN Venture, Wing, HSBC, Samsung Next and QBeat, as well as other new and existing investors.
This investment brings Classiq’s total funding to $173 million, positioning the company to meet growing demand by significantly scaling its go-to-market, customer success and R&D teams. Classiq will expand its global footprint to broaden its leading role in national quantum initiatives and as a cornerstone of the quantum ecosystem.
Sutor Group Earnings Brief: Rigetti Computing Announces Financial Results for Q1 2025 – Sutor Group
Author: Bob Sutor
Date: Thursday, May 15, 2025
Excerpt: Rigetti Computing announced its Q1 2025 earnings and financial results on Monday. Here are my comments on their decreasing revenue, with some free, unsolicited, and straightforward advice on becoming competitive.
Quantum Computing
Oxford Ionics Unveils Development Roadmap to Scalable Fault-Tolerant Quantum Computing
Date: Thursday, May 8, 2025
Excerpt: Oxford Ionics, a world leader in trapped-ion quantum computing, today announced its development roadmap to achieve scalable fault-tolerant quantum computing – outlining three short-term phases on the company’s path to delivering 1M+ qubit devices.
Alice & Bob to Build $50M Quantum Lab in Paris | High-Performance Computing News Analysis | insideHPC
https://insidehpc.com/2025/05/alice-bob-to-build-50m-quantum-lab-in-paris/
Date: Friday, May 9, 2025
Excerpt: Alice & Bob, a fault-tolerant quantum computing (FTQC) company, today announced the construction of a $50 million quantum computing laboratory in Paris to support the development of its products. The company has selected Quantum Machines, provider of hybrid control solutions, and Bluefors, a cryogenic systems manufacturer, as partners to equip the facility.
New Quantum Optimization Benchmarking Library invites researchers to put algorithms to the test | IBM
https://www.ibm.com/quantum/blog/quantum-optimization-benchmarking
Authors: Christa Zoufal; Stefan Woerner; and Robert Davis
Date: Wednesday, May 14, 2025
Excerpt: Last year, the Quantum Optimization Working Group published a white paper in Nature Reviews Physics on the effort to define and discover quantum advantage in optimization. This year, we’re taking that work even further with a new paper detailing what we call the intractable decathlon — ten optimization problem classes designed to help researchers test the limits of state-of-the-art quantum and classical methods. The optimization problems described in this paper also form the basis of the new Quantum Optimization Benchmarking Library (QOBLIB), an open-source repository that researchers can use to submit, track, and compare their benchmarking results. Now, we need your contributions.
Quantum Error Correction and Fault Tolerance
JPMorgan Chase, Infleqtion Release Quantum Error Correction Resources | Enter Quantum
Author: Berenice Baker
Date: Wednesday, May 14, 2025
Excerpt: The new qLDPC library introduces error-correction techniques that reduce the number of physical qubits needed to create reliable logical qubits by a factor of 10 to 100x. This development addresses one of quantum computing’s key challenges, the substantial hardware overhead in qubit numbers typically required for fault tolerance.
“This library makes it possible to bring that number down by 100x – down to as few as 20 physical qubits per logical qubit,” Pranav Gokhale, general manager of computing at Infleqtion, told Enter Quantum at The Economist Commercializing Quantum conference.
Sutor Group Intelligence and Advisory
Dr. Bob Sutor is the CEO and Founder of Sutor Group Intelligence and Advisory. Sutor Group provides broad market insights and deep technical expertise based on over four decades of experience with startups and large corporations. It advises Deep Tech startups, companies, and investors on quantum technologies, AI, and other emerging tech fields.
Sutor Group shares its knowledge and analysis through direct client engagements and seminars, reports, newsletters, books, written and on-air media appearances, and speaking and panel moderation at the top conferences and client events.
Legal Stuff
Visit the Copyright, Notices, Disclosures, Disclaimers, and Licenses on the Sutor Group website for applicable legal information for this content.
