Intel Corporation (NASDAQ:INTC) achieved another milestone in quantum computing. QuTech and Intel utilized its HRCCP (Horse Ridge cryogenic control processor) to show high-fidelity (99.7%) two-qubit control.
Horse Ridge controls multiple qubits
Intel and QuTech also demonstrated multiple qubits control using Horse Ridge on a single frequency. They utilized Deutsch-Jonza for efficient computing on quantum computers compared to regular computers.
Integrates quantum chip and electronics on the same die
Intel can now combine quantum chips and electronics on the same die and improve the volume of quantum computers. Industries can utilize quantum computers for more complex computations.
Intel developed the cryogenic control chip – Horse Ridge using its 22-nanometer FinFET Low Power technology. The breakthrough allows mitigating quantum computing-associated wiring challenges.
Intel invested $50 million with TU Delft (the Quantum Research Institute of the Delft University of Technology) and TNO – QuTech in 2015 to advance research. The collaboration between QuTech and Intel expedites research in quantum computing and helps to solve complex problems.
The demand for quantum chips
The market for quantum computing worldwide expects to reach $1,765 million in 2026 from $472 million in 2021, growing at a CAGR of 30.2%.
The early use of quantum computing in the finance and banking sectors would increase demand worldwide. Other factors for incremental growth in quantum computing are government investments of various nations for R&D.
Many companies concentrate on adopting QCaaS once the COVID-19 pandemic subsides. It is another critical factor to promote the growth of quantum computing.
The services segment worldwide would increase the demand for startups.
It attracts additional investment in quantum computing-related R&D activities.
Quantum computing would be used in ML (machine learning), simulation, and optimization applications.
It promotes efficient operations and reduces utilization costs in various industries worldwide.
Cloud computing to promote growth
The market for quantum computing would increase further with the vast deployment of cloud-based systems.
The robust cloud-based systems increase the demand for quantum computing. As a result, service providers can earn significant revenues in the future.
Optimization would account for a larger share of quantum computing. Various companies like 1QB Information Technologies, Cambridge Quantum Computing, D-Wave Systems, and QC Ware engages in developing computing systems using quantum chips.