What happened? Investors move money faster to quantum computing companies, hoping to make high profits along the way. According to financial research firm PitchBook, clothing companies working on quantum computer hardware and software have generated nearly $1.02 billion from risk investors this year alone. This figure is $684 million in 2020 and only $188 million in 2019, and does not even take into account the recent development in the industry.
Prior to the Rigetti deal, the previous largest deal in the sector was a $450 million investment by BlackRock. At PsiQuantum in July, the tech company was valued at $3.15 billion.
Several major players are currently involved in the world of quantum computing, including Microsoft, Google, Intel, IBM, and others. However, we are still barely scratching the surface of what would be possible with quantum computing.
In its simplest description, classic computers operate using one of two modes, on or off (0 or 1). Quantum computers use the phenomenon of quantum mechanics, where states are no longer binary and can be 0 and 1 at the same time. A few months ago.
Investors are looking to pour money into quantum computing companies in hopes of making big profits