JPMorgan Chase, Argonne National Laboratory and Quantinuum Show Theoretical Quantum Speedup with the Quantum Approximate Optimization Algorithm
New York, New York, Broomfield, Colorado, Lemont, Illinois, May 29th, 2024 — In a new paper in Science Advances on May 29, researchers at JPMorgan Chase, the U.S. Department of Energy’s (DOE) Argonne National Laboratory and Quantinuum have demonstrated clear evidence of a quantum algorithmic speedup for the quantum approximate optimization algorithm (QAOA).
This algorithm has been studied extensively and has been implemented on many quantum computers. It has potential applications in fields such as logistics, telecommunications, financial modeling, and materials science.
“This work is a significant step towards reaching quantum advantage, laying the foundation for future impact in production,” says Marco Pistoia, Head of Global Technology Applied Research at JPMorgan Chase.
The team examined whether a quantum algorithm with low implementation costs could provide a quantum speedup over the best-known classical methods. QAOA was applied to the Low Autocorrelation Binary Sequences (LABS) problem, which has significance in understanding the behavior of physical systems, signal processing and cryptography. The study showed that if the algorithm was asked to tackle increasingly larger problems, the time it would take to solve them would grow at a slower rate than that of a classical solver.
To explore the quantum algorithm’s performance in an ideal noiseless setting, JPMorgan Chase and Argonne jointly developed a simulator to evaluate the algorithm’s performance at scale. It was built on the Polaris supercomputer, accessed through the Argonne Leadership Computing Facility (ALCF), a DOE Office of Science user facility. The ALCF is supported by DOE’s Advanced Scientific Computing Research program.
“The large-scale quantum circuit simulations efficiently utilized the DOE petascale supercomputer Polaris located at the ALCF. These results show how high-performance computing can complement and advance the field of quantum information science,” says Yuri Alexeev, a computational scientist at Argonne.
To take the first step toward practical realization of the speedup in the algorithm, the researchers demonstrated a small-scale implementation on Quantinuum’s System Model H1 and H2 trapped-ion quantum computers. Using algorithm-specific error detection, the team reduced the impact of errors on algorithmic performance by up to 65%.
“Our long-standing partnership with JPMorgan Chase led to this meaningful and noteworthy three-way research experiment that also brought in Argonne National Lab. The results could not have been achieved without the unprecedented and world leading quality of our H-Series Quantum Computer, which provides a flexible device for executing error-correcting and error-detecting experiments on top of gate fidelities that are years ahead of other quantum computers,” says Ilyas Khan, Founder and Chief Product Officer of Quantinuum.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $337 billion in stockholders’ equity as of March 31, 2024. With over 63,000 technologists globally and an annual tech spend of $17 billion, JPMorgan Chase is dedicated to improving the design, analytics, development, coding, testing and application programming that goes into creating high quality software and new products. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Visit http://www.jpmorganchase.com/tech for more information.
About Argonne National Laboratory
Argonne National Laboratory seeks solutions to pressing national problems in science and technology by conducting leading-edge basic and applied research in virtually every scientific discipline. Argonne is managed by UChicago Argonne, LLC for the U.S. Department of Energy’s Office of Science.
About Quantinuum
Quantinuum, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With almost 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
Quantinuum recently closed an equity fundraise anchored by JPMorgan Chase with additional participation from Mitsui & CO., Amgen and Honeywell, which remains the company’s majority shareholder, bringing the total capital raised by Quantinuum since inception to approximately $625 million.
The Honeywell trademark is used under license from Honeywell International Inc. Honeywell makes no representations or warranties with respect to this service.
About Quantinuum
Quantinuum, the world’s largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
Broomfield, CO – April 2nd, 2025 — Quantinuum, the industry leader in quantum computing with the world’s highest performing quantum computer, today announced that Quantum Origin, the company’s software Quantum Random Number Generator (QRNG), has received National Institute of Standards and Technology (NIST) validation. Quantum Origin is the first software QRNG to achieve this validation, establishing it as a crucial tool for federal agencies and agency partners in their mandated migration to post-quantum cryptography (PQC) under National Security Memorandum 10. This achievement will help strengthen cybersecurity in the age of PQC.
Quantum Origin generates mathematically proven randomness — a capability unmatched by hardware-based QRNGs or traditional pseudo-random number generators. Unlike hardware solutions that require specialized equipment and can be affected by environmental factors, Quantum Origin delivers consistent, proven randomness through flexible software deployment. Proven quantum randomness is an essential foundation for comprehensive quantum security strategy alongside PQC.
"The evolving threat landscape demands a new era of cybersecurity solutions for governments, enterprises, and critical infrastructure," said Dr. Rajeeb Hazra, President and CEO of Quantinuum. "Quantinuum is at the forefront of this transformation, driving innovation in quantum cybersecurity. Our recent certified randomness demonstration with JPMorganChase, and our NIST-validated Quantum Origin platform are just two examples of how we are deepening our portfolio to meet this critical need."
Quantum Origin is delivered entirely as self-contained software, making it adaptable to diverse environments from cloud solutions to highly sensitive systems. It can be deployed with zero network connectivity, enabling protection for air-gapped networks and confidential environments where traditional hardware-based QRNGs cannot operate effectively. It provides quantum-enhanced security without impacting the size, weight, and power (SWaP) requirements of existing systems, a critical consideration for resource-constrained deployments.
U.S. Made using Quantinuum's quantum computers based in Colorado, Quantum Origin helps mitigate supply chain risks associated with foreign-sourced hardware components. It is designed to integrate seamlessly with existing NIST-approved cryptographic systems without requiring recertification. With this NIST validation, organizations can now accelerate their adoption of quantum-enhanced security within existing compliance frameworks.
Visit https://www.quantinuum.com/quantum-origin to learn how Quantum Origin can strengthen federal and enterprise cryptographic systems today.
About Quantinuum
Quantinuum is the world leader in quantum computing. The company’s quantum systems deliver the highest performance across all industry benchmarks. Quantinuum’s over 550 employees, including 370+ scientists and engineers, across the US, UK, Germany, and Japan, are driving the quantum computing revolution.
Santa Clara, Calif. – March 18, 2025 – Quantinuum, the industry leader in quantum computing with the world’s highest performing quantum computer, will work with NVIDIA as a founding collaborator on breakthroughs at the NVIDIA Accelerated Quantum Research Center, where operations are expected to begin later this year.
NVIDIA Accelerated Quantum Computing Research Center (NVAQC) will provide the ability to develop quantum solutions and applications that help solve some of the world’s most pressing problems. The center will accomplish this by using NVIDIA CUDA-Q platform alongside a world leading NVIDIA GB200 NVL72 supercomputer with Quantinuum’s System H2, which achieves 2,097,152 Quantum Volume — orders of magnitude greater than the next best available.
Quantinuum’s quantum computing architecture delivers the fastest time-to-solution available and is positioned to extend this leadership with its next-generation systems. By 2027, Quantinuum will launch the industry’s first 100-logical-qubit system, featuring best-in-class error rates. The company is also on track to deliver commercially scalable quantum computers with hundreds of logical qubits by the end of the decade. This progress builds upon a series of recent technology breakthroughs, including Quantinuum’s creation of the most reliable and highest-quality logical qubits, as well as solving the key scalability challenge associated with ion-trap quantum computers — culminating in a commercial system with greater than 99.9% two-qubit gate fidelity.
In 2022, Quantinuum became the first company to bring CUDA-Q to its Quantum systems, establishing a pioneering collaboration that continues to advance the platform today in multiple areas including application development and Quantum Error Correction (QEC). Users of CUDA-Q are currently offered access to Quantinuum’s System H1 QPU and emulator for 90 days. Quantinuum’s future systems will continue to support the CUDA-Q platform and be available via the NVAQC, accelerating the adoption of Generative Quantum AI (Gen QAI).
Quantinuum’s groundbreaking Gen QAI system, announced last month, enables data generated by Quantinuum’s quantum systems to be harnessed to train AI systems, significantly enhancing the fidelity of AI models, and allowing them to tackle challenges previously deemed unsolvable. Through this achievement, Quantinuum is setting a new standard for AI training and problem-solving across various industries.
“By combining NVIDIA's AI hardware and software solutions with leading and differentiated solutions from Quantinuum, we’re unlocking unprecedented solutions and accelerating Generative Quantum AI’s adoption across diverse markets,” said Dr. Rajeeb Hazra, President and CEO of Quantinuum.
"Progress toward useful quantum computing hinges on new discoveries," said Tim Costa, Senior Director of CAE, Quantum, and CUDA-X at NVIDIA. "The NVAQC will fast-track the development of useful quantum devices, being the epicenter for breakthroughs made with partners like Quantinuum."
About Quantinuum
Quantinuum is the world leader in quantum computing. The company’s quantum systems deliver the highest performance across all industry benchmarks. Quantinuum’s over 550 employees, including 370+ scientists and engineers, across the US, UK, Germany, and Japan, are driving the quantum computing revolution.