IBM and Google invest $150 million in the University of Chicago and the University of Tokyo to help develop quantum computing

On May 18, the University of Chicago and the University of Tokyo announced that they will receive US$150 million from IBM and Google to advance quantum computing research. The funding includes a total of $100 million from IBM to the two universities and a $50 million donation from Google.

Quantum computing, as one of the cutting-edge technologies currently attracting much attention, is regarded as the future of computing. It can handle some problems that are difficult or even impossible to solve by traditional computers.

According to ITBEAR Technology Information, Google announced at the I/O Developer Conference in May 2021 that it planned to develop a commercial quantum computer by 2029. This computer will be capable of performing large-scale calculations without The ability to make mistakes. In order to achieve this goal, Google has built a quantum AI park in Santa Barbara, California, USA, and plans to conduct research and development of quantum computers in the park.

According to ITBEAR Technology Information, Google announced in February this year that they had made breakthrough progress in quantum computing error correction and reached the second milestone towards practical quantum computers.

It is worth mentioning that Google is one of the few companies to determine a specific release date for quantum computers. In addition to Google, IBM and Canadian quantum company D-Wave Systems is working toward the same goal.

According to Research And in December 2022 According to the global quantum computing market report released by Markets, the global quantum computing market is expected to reach US$9.5631 billion by 2031, with an average annual growth rate of 28.6%.

This capital injection will help the University of Chicago and the University of Tokyo accelerate research and innovation in the field of quantum computing and make important contributions to the development of quantum computing. The two universities will use these funds to expand their quantum computing research teams, strengthen infrastructure, and actively promote the application of quantum computing technology.

Overall, this injection of funds is of great significance in promoting the development of global quantum computing. It is believed that with more funds and research investment, quantum computing will usher in more breakthroughs and application possibilities.

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