LEESBURG, Va., June 07, 2022 (GLOBE NEWSWIRE) — Quantum Computing Inc. (“QCI” or the “Company”) (NASDAQ: QUBT), a leader in accessible quantum computing, today unveiled QAmplify, a suite of quantum software technologies that boosts the power of processing of any current quantum computer. QAmplify is capable of supercharging any quantum computer to solve realistic real-world business problems today. The Company is actively working with its customers and partners to evolve the amplification capabilities of its off-the-shelf products Qatalyst™, which is designed to eliminate the need for complex quantum programming and works seamlessly on a variety of quantum computers. QCI has filed patents on QAmplify technology.
There are currently two main technology approaches that offer a wide range of capabilities spanning the current quantum processing unit (“QPU”) hardware landscape; gate model (eg IBM, IonQ, Rigetti, OQC, etc.) and annealed (eg D-Wave) quantum computers. Both are limited in the size of the problems (i.e. the number of variables and the complexity of the calculations) that they can handle. For example, gate models can typically process 10 to 120 data variables, and annealing machines can process around 400 variables in a single problem set. These small problem sets limit the size of the problems that can be solved by today’s QPUs, limiting the ability of enterprises to explore the value of quantum computing.
The patent-pending QAmplify suite of powerful QPU extension software technologies overcomes these challenges, dramatically increasing the size of the set of problems each can address. Demonstrated capabilities of the QAmplify gate model extension were rated at an increase of 500% (5x) and annealing extension was rated at an increase of up to 2000% (20x).
QAmplify maximizes end-user investment in today’s QPUs by enabling quantum users to move from scientific experiments to solving real-world problems without waiting for the quantum hardware industry to catch up. For example, in terms of real-world applications, this means that an IBM quantum computer with QAmplify could solve a problem with over 600 variables, versus the current limit of 127 variables. A D-Wave annealing computer with QAmplify could solve an optimization with over 4,000 variables, versus the current limit of 200 for a dense matrix problem set.
“It is central to QCI’s mission to deliver practical and lasting value to the quantum computing industry,” said William McGann, COO and CTO of QCI. “QCI’s innovative software solutions provide expanded computing capabilities for today’s cutting-edge QPU systems and offer great future scalability as these technologies continually evolve. The use of our QAmplify algorithm in the BMW Group Quantum Computing Challenge 2021 for vehicle sensor optimization provided proof of performance by multiplying the effective annealing capacity by 20, to 2,888 qubits.
To learn more about QCI and how Qatalyst can deliver results for your business today, visit www.quantumcomputinginc.com.
About Quantum Computing Inc.
Quantum Computing Inc. (QCI) (NASDAQ: QUBT) is a full-spectrum quantum hardware and software company whose mission is to accelerate the value of quantum computing for real-world business solutions. The company recently announced its intention to acquire QPhoton, a quantum photonics innovation company that has developed a series of quantum photonic systems (QPS). The combination of QCI’s flagship ready-to-use software product, Qatalyst, with QPS from QPhoton, puts QCI on the path to providing a widely accessible and affordable complete quantum solution that can be used by non-quantum experts, n anywhere, for real -world industrial applications. QCI’s team of experts in finance, IT, security, mathematics and physics has more than a century of experience with complex technologies; from cutting-edge supercomputing to massively parallel programming, to security that protects nations. Connect with QCI on LinkedIn and @QciQuantum on Twitter. For more information on QCI, visit www.quantumcomputinginc.com.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. These statements include statements regarding the intent, belief or current expectations of Quantum Computing Inc. (the “Company”) and its management, and the assumptions on which such statements are based. Potential investors are cautioned that these forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by these forward-looking statements.
Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events and, as such, all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. may contain certain forward-looking statements. regarding anticipated or projected future plans, performance and developments, and other statements regarding future operations and results. All statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate”, “intend”, “aim”, “objective”, “seek” , “tents”, “aims to”, or variations of these or similar words, identify forward-looking statements. Such statements include statements regarding the Company’s ability to complete its planned acquisition of QPhoton, the anticipated benefits of such acquisition and the Company’s ability to successfully develop, market and sell its products.Factors that could cause actual results to differ materially from those in the forward-looking statements contained in this press release include, but are not limited to, limited thereto, the potential inability of the parties to complete the proposed transaction, including due to a failure to satisfy the closing conditions of the contemplated transactions; the risks that QPhoton will not be successfully integrated; the inability to complete the anticipated benefits of combined operations; potential litigation related to the proposed transaction and disruptions to the proposed transaction that could adversely affect the business of the Company or QPhoton; ability to retain key personnel; the potential impact of the announcement or completion of the proposed transaction on relationships with third parties, including customers, employees and competitors; capital market conditions; and risks described in Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which is expressly incorporated herein by reference, and other factors that may be described from time to time in the filings. by the company with the SEC. The Company undertakes no obligation to update or revise any forward-looking statements to reflect changed terms.
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Robert Liscouski, CEO
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