Shares soared 30-! Quantum computing firm QCI's latest quantum software boosts processing power by 20 times

On June 7, Quantum Computing Inc. (QCI) (NASDAQ: QUBT) QCI launched the latest quantum software technology QAmplify[1], which can increase the processing power of current quantum computers by 20 times. According to QCI officials, the company is applying for patents related to QAmplify technology.

Affected by this, QCI's stock price rose 33.79% that day, and the cumulative increase this month was 70.93%.

Trend chart of QUBT stock price in the past month. Source: seekingalpha.com

There are currently two main technical approaches that provide a broad range of capabilities across the current quantum processing unit (QPU) hardware environment: gated (e.g. IBM, IonQ, Rigetti, OQC, etc.) and annealed (e.g. D-Wave) quantum computers.

However, both are limited in the problem size (i.e. number of variables and computational complexity) they can handle. For example, a gate model can typically handle 10-120 data variables, and an annealer can handle around 400 variables in a simple problem set. These problems limit the scale of problems that can be solved by today's QPUs, while limiting the ability of businesses to explore the value of quantum computing .

QCI's QAmplify overcomes these challenges by providing a powerful suite of QPU scaling software technologies, greatly increasing the problem set size that each QPU can handle: On benchmarks, QAmplify improves the performance of gate models by 500% (5x), annealing Increased by 2000% (20x).

It should be noted that QCI has not yet published relevant papers.

QCI says QAmplify maximizes end-user investment in current QPUs by allowing quantum users to move from scientific experiments to solving real-world problems without waiting for the quantum hardware industry to catch up.

In practical terms, for example, this means that an IBM quantum computer with QAmplify can solve problems with more than 600 variables , compared to the current limit of 127 variables . The D-Wave annealing computer with QAmplify can solve optimizations with more than 4000 variables , compared to the current limit of 200 for dense matrix problem sets .

"Providing practical and sustainable value to the quantum computing industry is at the heart of QCI's mission," said William McGann, QCI Chief Operating and Technology Officer. "QCI's innovative software solutions provide a wide range of computing capabilities for today's state-of-the-art QPU systems and offer enormous future scalability as these technologies continue to evolve. In 2021, used in the BMW Group Quantum Computing Challenge Our QAmplify algorithm for vehicle sensor optimization extends the effective capability of the annealer by a factor of 20 to 2888 qubits, which provides a strong demonstration of performance."

William McGann, Chief Operating and Technology Officer (COO/CTO) at QCI

About QCI

Founded in 2018, QCI is headquartered in Virginia, USA. QCI's core product is Qatalyst - a quantum application accelerator that enables developers to create and execute quantum applications on classical computers, eliminating the need for complex quantum programming, serving commercial and government entities including DWave, Rigetti and IonQ , addressing supply chain, logistics, drug discovery, cybersecurity and transportation issues.

Reference link:

https://www.quantumcomputinginc.com/press-releases/qci-qamplify/