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 expands the processing power of any current quantum computer by as much as 20x. QAmplify is capable of supercharging any quantum computer to solve real-world realistic business problems today. The Company is actively working with customers and partners in scaling the amplification capabilities of its ready-to-run Qatalyst™ software, which is designed to eliminate the need for complex quantum programming and runs seamlessly across a variety of quantum computers. QCI has filed for patents on QAmplify technology.
Currently there are two primary technology approaches that deliver a wide range of capabilities spanning the current Quantum Processing Unit (“QPU”) hardware landscape; gate model (e.g. IBM, IonQ, Rigetti, OQC, etc.) and annealing (e.g. D-Wave) quantum computers. Both are limited in the size of problems (i.e., number of variables and complexity of computations) they can process. For example, gate models can typically process from 10-120 data variables, and annealing machines can process approximately 400 variables in a simple problem set. These small problem sets restrict the size of the problems that can be solved by today’s QPUs, limiting businesses’ ability to explore the value of quantum computing.
QCI’s patent-pending QAmplify suite of powerful QPU-expansion software technologies overcomes these challenges, dramatically increasing the problem set size that each can process. The QAmplify gate model expansion’s demonstrated capabilities have been benchmarked at a 500% (5x) increase and the annealing expansion has been benchmarked at up to a 2,000% (20x) increase.
QAmplify maximizes end-user investment in current QPUs by allowing quantum users to transform from science 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 sustainable value to the quantum computing industry,” said William McGann, Chief Operating and Technology Officer of QCI. “QCI’s innovative software solutions deliver expansive compute capabilities for today’s state-of-the-art QPU systems and offer great future scalability as those technologies continually advance. The use of our QAmplify algorithm in the 2021 BMW Group Quantum Computing Challenge for vehicle sensor optimization provided proof of performance by expanding the effective capability of the annealer by 20-fold, 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 software and hardware company on a mission to accelerate the value of quantum computing for real-world business solutions. The company recently announced its intent 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-run software product, Qatalyst, with QPhoton’s QPS, sets QCI on a path to delivering a broadly accessible and affordable full-stack quantum solution that can be used by non-quantum experts, anywhere, for real-world industry applications. QCI’s expert team in finance, computing, security, mathematics and physics has over a century of experience with complex technologies; from leading edge supercomputing, to massively parallel programming, to the security that protects nations. Connect with QCI on LinkedIn and @QciQuantum on Twitter. For more information about QCI, visit www.quantumcomputinginc.com.
Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined within 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. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing Inc. (the “Company”), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such 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 such 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. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," “aim to,” or variations of these or similar words, identify forward-looking statements. Such statements include statements regarding the Company’s ability to consummate 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, the parties’ potential inability to consummate the proposed transaction, including as a result of a failure to satisfy closing conditions to the proposed transactions; risks that QPhoton will not be integrated successfully; failure to realize anticipated benefits of the combined operations; potential litigation relating to the proposed transaction and disruptions from the proposed transaction that could harm the Company’s or QPhoton’s business; ability to retain key personnel; the potential impact of announcement or consummation of the proposed transaction on relationships with third parties, including customers, employees and competitors; conditions in the capital markets; and those risks described in Item 1A in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions.
Qatalyst™ is the trademark of Quantum Computing Inc. All other trademarks are the property of their respective owners.
Company Contact:
Robert Liscouski, CEO
Quantum Computing, Inc.
+1 (703) 436-2161
Email Contact
Investor Relations Contact:
Ron Both or Grant Stude
CMA Investor Relations
+1 (949) 432-7566
Email Contact
Media Relations Contact:
Seth Menacker
Fusion Public Relations
+1 (201) 638-7561
qci@fusionpr.com
