Intel (INTC)-Argonne Lab Partner on Quantum Computing Research

Intel INTC recently collaborated with Argonne National Laboratory (NYSE:LH) to accelerate research in the quantum computing field.

The latest development follows the announcement of creation of five new quantum research centers across the United States by the White House Office of Science and Technology Policy and the U.S. Department of Energy (DOE). These research centers will be managed by DOE-affiliated National Laboratories.

Q-Next is one such research center, which will be managed by Argonne National Laboratory in association with 20 other partners. These include SLAC National Accelerator Laboratory, California Institute of Technology, Universities of Chicago and Minnesota along with technology giants with quantum computing exposure like Microsoft MSFT, Keysight Technologies (NYSE:KEYS) KEYS and International Business machines IBM, apart from Intel.

Technology bellwethers like Intel are partnering with scientists and research centers to focus on delivering solutions that facilitate the development of fault-tolerant algorithms, which holds promise. These companies are also working on viable and scalable quantum computer capabilities to address complex issues that currently cannot be solved using advanced supercomputers.

Efforts to ramp up research in quantum computing field, with noteworthy collaborations, is expected to aid Intel gain a competitive edge in the market and capitalize on quantum computing boom.

Details of Q-Next’s Research Programme

Q-Next will be focusing research in three major quantum technologies, which include developing faster transmission of quantum information across long distances and building communication networks that cannot be hacked into. It will also focus on creating test solutions for cryptanalysis, quantum simulations, and logistics optimization. Also, Q-Next will be working on buildings sensors that boast of high-level sensitivity that could have a transformative effect on physics, and life sciences research.

Over the next five years, Argonne-led research center will receive $115 million in funding from DOE along with another $93 million contributed by the collaborators.

Apart from Q-Next, the remaining four centers are led by DOE’s, Fermi, Brookhaven Lawrence Berkeley as well as Oak Ridge national laboratories. Per a Reuters report, the U.S. government will be spending $625 million over the next five years to expand research in quantum computing.

Aplenty Growth Prospects of Quantum (NASDAQ:QMCO) Computing Bode Well

Quantum computers use the concept of superposition and entanglement to create a state that can increase exponentially with number of qubits. The qubits can perform numerous calculations on a real-time basis accelerating complex problem-solving.

Consequently, the quantum computing technologies are expected to spur new breakthroughs in medical sciences, cloud security, supply chain and logistics, defense and military domains.

Per a ResearchAndMarkets report, the quantum computing market is expected grow at a CAGR of 56% between 2020 and 2030.

Growing worldwide spending on quantum computing is expected to act as a key catalyst in this regard and enable the technology to go mainstream. Notably, this is being led by government and academia institution funding. For instance, in December 2018, the US government passed the National Quantum Initiative Act, under which it will spend $1.2 billion on quantum research over the next decade.

Intel’s quantum computing exposure with focus on commercialization and democratization of the technology to allow enterprises in ramping up computational processes and augment business productivity, bodes well.

Last year, Intel introduced “Horse Ridge,” a type of cryogenic control chip aimed at commercialization of quantum computers. The chip will enable quantum computing system to control multiple qubits that will make the setup relatively more scalable.

With the new chip, Intel attempts to competently support qubit fabrication and minimize the logjams in the form of heavy wiring, control electronics as well as interconnects

The new chip and the latest partnership emphasize the chipmaker’s investments to realize quantum practicality.

At present, Intel carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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