NEC Corp to invest in quantum computing fum D-Wave

In a statement, D-Wave Systems, a Canadian quantum computer firm which has the backing of Amazon’s CEO Jeff Bezos, as well as Goldman Sachs and others, said NEC Corp has invested in the company in its latest funding round.

According to Dan Cohrs, D-Wave’s chief financial officer, NEC has committed to investing $10 million in the fundraising round which could close in January. Cohrs however declined to quantify how much D-Wave was raising as well as its valuation but stated, some existing investors have committed to participate.

Bezos Expeditions, Bezos’ personal investment fund, as well as In-Q-Tel, the Central Intelligence Agency’s venture capital firm, Fidelity Investments, and Goldman are among D-Wave’s investors.

After the funding, D-Wave aims to utilise the funds to develop software and applications that can work on NEC’s supercomputers as well as on D-Wave’s quantum computers.

As per a statement from NEC’s spokeswoman, the company is in talks with D-Wave about the partnership, adding that the investment is subject to certain conditions.

According to researchers, quantum computers, can make tasks ranging from mapping complex molecular structures and chemical reactions to boosting the power of artificial intelligence, significantly faster.

NEC’s partnership could help D-Wave penetrate deeper into Japan, said Cohrs while adding Toyota Tsusho, Nomura Securities Co as well as certain Japanese universities are already D-Wave clients.

In the United States, D-Wave’s clients include Lockheed Martin and Los Alamos National Laboratory, said Cohrs.

He went on to add, D-Wave has 20 quantum computers in its headquarters in Burnaby, Canada.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s