PRESS RELEASE. Road Town, BVI, February 29th, 2024 – In a significant move for cryptocurrency and mobile technology enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of The Quantum Resistant Ledger (QRL) on March 1, 2024. Users of LBank Exchange can brace themselves for the QRL/USDT trading pair, which […]
Source link
With artificial intelligence (AI) becoming such a big push in the business world, many companies are attempting to find ways to speed up the model creation process and make it more accurate. One way to do that is with quantum computing, and there’s one pure-play investment available to capitalize on that: IonQ (IONQ -1.09%).
Quantum computing is still in its infancy, but could this be the year it takes off?
Quantum computing is a fancy buzzword, and many people may be using it without knowing what it is and why it’s better than standard computing, which uses a “bit” representing 0 or 1. This only allows for straightforward processing. Quantum computing uses “qubits,” which allows for parallel processing.
Essentially, instead of a 0 or a 1, imagine a sphere with a radius of 1. The solution could be anywhere along that sphere, allowing the computer to make a nearly infinite number of outcomes for just one input.
Image source: IonQ.
Quantum computing won’t replace regular computers — it’s too expensive due to the specialized equipment needed. But for arduous tasks like AI, drug discovery, or other engineering simulations, it could be a game changer. IonQ is a leader in this space and is just getting started.
In Q3, the company’s revenue rose 122% to $6.1 million. But what’s a bigger deal is that it reported bookings of $26.3 million, bringing its total to $58.4 million. That means demand is starting to pile up for these machines, which is crucial for IonQ to become a powerhouse in this space.
Most of this rise came from the U.S. Air Force purchasing a $25.5 million computer for its Air Force Research Lab. This will be a contract to watch, as it could lead to more business if IonQ delivers a quality product to government customers.
But the question is, can IonQ survive long enough to make it to a point where it sees its product widely deployed?
IonQ is such an early-stage company that it’s far from breaking even. Unsurprisingly, its research and development costs are high and drove a massive operating loss of $42.2 million. Fortunately, the company has around $384 million in cash and short-term investments, so it should be able to survive for about two more years before needing to raise more money.
It’s unlikely that IonQ would even get to that point. The company’s market cap is only around $3 billion, so it’s feasible that a company like Alphabet or Microsoft could come along and scoop it up if it was looking to sell. But does that mean you should buy it?
Valuing a company like IonQ is practically impossible, as it trades for over 150x sales because it’s an early-stage business with a lot of future business ahead.
IONQ PS Ratio data by YCharts.
As a result, giving a buy or sell recommendation doesn’t apply. It all boils down to whether or not you believe that quantum computing can make a difference.
If you do, then devoting no more than 1% of your portfolio to it is smart because if it takes off, it’ll grow to become a massive part of your portfolio. But if it crashes and burns, it won’t hurt your overall returns.
IonQ could make a huge difference in AI. For my money, however, I’ll likely invest in some other surefire AI investments.
Keithen Drury has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
(Bloomberg) — Panama’s government formally ordered First Quantum Minerals Ltd. to end all operations at its $10-billion copper mine in the country, according to the Canadian company’s local unit.
Most Read from Bloomberg
Panama’s Ministry of Commerce and Industry ordered the metals producer to “end extraction, processing, refining, transportation, export and sales activities,” the company said in a Friday statement. The move follows a Supreme Court ruling that invalidated the law governing Cobre Panama’s operating license.
The giant Cobre Panama mine has been at the center of widespread protests that erupted over a decision to approve a new multidecade operating contract in October. President Laurentino Cortizo initiated plans to shutter the mine in November.
Read More: Panama to Shut Down Giant Copper Mine After Court Ruling
First Quantum is also requesting permission from Panama’s labor ministry to lay off more than 4,000 of the 7,000 employees at the site “for justified economic reasons.” Some will remain on site to “maintain the safety of the facilities and avoid environmental losses or damages within the mining area,” the company said.
Shares of the Vancouver-based firm fell as much as 2.1% in Toronto, touching its lowest intraday price since June 2020.
Most Read from Bloomberg Businessweek
©2023 Bloomberg L.P.
Canadian quantum computing firm Photonic has emerged from stealth to raise $100 million for its all-silicon quantum computing platform. Among the investors is new partner Microsoft, which will co-develop quantum networking solutions with the startup.
The investment and partnership come as numerous experts in the industry laud Photonic’s novel approach to quantum computing as a “breakthrough” for the field.
We’re joining forces with @TeamPhotonic to enable future quantum networking over long distances—and to integrate Photonic’s scalable quantum computing offering into Azure Quantum Elements. Learn more: #AzureQuantum
— Azure Quantum (@MSFTQuantum) November 9, 2023
Photonic’s technique involves building quantum computers using silicon spin qubits with a spin-photon interface — in other words, a computer that uses qubits made of light to perform quantum computations on silicon hardware.
Related: IBM, Microsoft, others form post-quantum cryptography coalition
In quantum computing, a qubit is analogous to a binary computer’s bits. However, while a binary, or classical, computer can only perform calculations using ones and zeros, a qubit can tap into exotic features of quantum physics called “superposition” and “entanglement.” These quantum states allow qubits to compute in a way that would resemble a binary bit being able to use ones, zeros, ones and zeros, neither ones nor zeros, and other even less intuitive combinations.
A spin qubit takes things a step further by adding electron spin. And by developing a qubit with a photonic spin interface in an all-silicon hardware solution, Photonic believes it has found the missing piece of the puzzle when it comes to quantum computing.
Stephanie Simmons, founder and chief quantum officer of Photonic, said the company expects to bring a fault-tolerant, fully functional quantum networking system to market as early as within the next five years.
Per Simmons, the partnership with Microsoft will help to facilitate that timeline:
“We’re incredibly excited to be partnering with Microsoft to bring forth these new quantum capabilities. Their extensive global infrastructure, proven platforms, and the remarkable scale of the Azure cloud make them the ideal partner to unleash the transformative potential of quantum computing and accelerate innovation across the quantum computing ecosystem.”