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.
TOKYO, JAPAN – February 12, 2025 – Quantinuum, the world’s largest integrated quantum computing company, and RIKEN, Japan’s largest comprehensive research institution, today announced the successful on-premise installation of Quantinuum’s “Reimei” quantum computer at RIKEN’s Wako campus in Saitama, Japan. RIKEN has designed, prepared, and delivered a world-class facility for the trapped-ion quantum computer, which will enable generations of high-performance quantum systems.
This state-of-the-art machine is now fully operational, ushering in a new era of discovery and innovation. With its installation at RIKEN’s world-class facility, Japanese researchers now have direct, on-site access to Quantinuum’s cutting-edge quantum computing technology, renowned for being the highest performing systems in the world. Quantinuum’s hardware stands out as the only available system using a unique architecture that physically moves qubits, unlocking new tools and possibilities unavailable on other platforms. The exceptional performance and consistency of the system are supported by the stability of the facility's world-class environment, which is designed, built, and maintained to maximize the capabilities of Quantinuum's quantum computers.
Named “Reimei,” which translates into “dawn” in Japanese, this powerful quantum computer symbolizes the incredible potential of quantum technology and integrated hybrid computational platforms. The trapped-ion quantum computer by Quantinuum will work in harmony with RIKEN’s famed Japanese flagship supercomputer Fugaku, creating a cutting-edge quantum-HPC hybrid platform designed to tackle computations that surpasses the capabilities of traditional supercomputers—an exciting leap forward for scientific research.
This groundbreaking installation is part of an ambitious project commissioned by the New Energy and Industrial Technology Development Organization (NEDO), a national research and development entity under Japan’s Ministry of Economy, Trade and Industry.
Looking ahead, the next phase of this collaboration will focus on the integration of a quantum-HPC hybrid platform in 2025. Quantinuum is excited to team up with RIKEN and other partners to optimize operations within this innovative hybrid environment.
Additionally, Quantinuum will continue collaborating with RIKEN researchers to advance scientific discovery across various applications. The company will work with local suppliers to enhance the quantum supply chain and foster growth within the Japanese quantum computing ecosystem through customized, in-person workshops and tutorials.
Dr. Mitsuhisa Sato, Division Director of the Quantum-HPC Hybrid Platform Division, RIKEN Center for Computational Science, said: “Reimei’s high-fidelity qubits and all-to-all connectivity will significantly enhance the research possibilities of our quantum-HPC hybrid platform. We are thrilled to explore new frontiers in scientific research on quantum-HPC hybrid applications by using the Quantinuum system with our Fugaku.”
Dr. Rajeeb Hazra, President and CEO of Quantinuum, emphasized the significance of this milestone: “This installation represents a pivotal moment for our global strategy, marking the first on-site deployment of our quantum technology outside the U.S. We are eager to collaborate with RIKEN’s exceptional researchers, whose expertise will be instrumental in driving unprecedented scientific breakthroughs.”
About RIKEN
RIKEN, a National Research and Development Agency, is Japan’s largest comprehensive research institution renowned for high-quality research in a diverse range of scientific disciplines. Founded in 1917, initially as a private research foundation, RIKEN has grown rapidly in size and scope, today encompassing a network of world-class research centers and institutes across Japan.
About Quantinuum
Quantinuum, the world’s largest and leading 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.
For more information, please visit the website at www.quantinuum.com
BROOMFIELD, CO, and LONDON, U.K. – February 4, 2025 – Quantinuum today announced a groundbreaking Generative Quantum AI framework (Gen QAI) – leveraging unique quantum-generated data to enable commercial applications in areas ranging from the development of new medicines, precise predictive modeling of financial markets and real-time optimization of global logistics and supply chains. The potential of these three capabilities alone is immense, and this framework is set to unlock solutions to other complex problems that classical computing cannot address.
For the first time, data generated by Quantinuum’s powerful H2 quantum computer can be harnessed to train AI systems, significantly enhancing the fidelity of AI models, 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.
“We are at one of those moments where the hypothetical is becoming real and the breakthroughs made possible by the precision of this quantum-generated data will create transformative commercial value across countless sectors. Gen QAI is a direct result of our full-stack capabilities and our leadership in hybrid classical-quantum computing, delivering an entirely new approach that stands to revolutionize AI,” said Dr. Raj Hazra, President and CEO of Quantinuum. On February 4, Dr. Hazra will join an expert panel at the 2025 International Year of Quantum (IYQ) ceremony in Paris to share further insights into our groundbreaking Gen QAI development.
“While some may suggest that a standalone quantum computer is still years away, the commercial opportunities from this breakthrough are here and now,” said Dr. Thomas Ehmer from the Healthcare business sector of Merck KGaA, Darmstadt, Germany. "The generation of meaningful synthetic data, specifically when you do not have many training data, is nontrivial and we see it as a new era for AI unlocked by quantum technologies. The Helios system, launching later this year will hopefully enable AI to be used in unprecedented ways and unlocking transformative potential across industries.”
Gen QAI leverages the unique capabilities of quantum computing to explore data complexities far beyond what classical computing systems and GPUs can handle. Quantinuum is collaborating with industry partners on Generative AI projects that harness the power of quantum computing in sectors such as automotive, pharmaceuticals and materials science. In the coming months, Quantinuum will share results from ongoing collaborations, showcasing the groundbreaking potential of quantum-driven advancements in Generative AI.
One notable collaboration is with the HPE Group in Italy, focusing on utilizing quantum computing in the automotive sector.
Enzo Ferrari, Executive Vice President of HPE Group, stated, “At HPE, we have a long-standing tradition of employing cutting-edge technologies for our clients in the motorsport industry. We are thrilled about our collaboration with Quantinuum, leveraging quantum-generated data for applications such as battery development, aerodynamic optimization and fuel innovation.”
As quantum computing gains significance globally, Quantinuum anticipates that its upcoming Helios system will exponentially extend computational capabilities, operational by mid-2025 for applications in drug discovery and addressing climate challenges. In particular, the innovative Gen QAI capability will enhance and accelerate the use of Metallic Organic Frameworks for drug delivery, paving the way for more efficient and personalized treatment options, with details to be unveiled at the launch of Helios.
This announcement also comes on the heels of Quantinuum’s recently expanded partnership with SoftBank, underscoring the company’s accelerating commercial momentum.
About Quantinuum
Quantinuum, the world’s largest and leading 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.
For more information, please visit the website at www.quantinuum.com
Source: SoftBank Corp.
Tokyo, Japan and Broomfield, Colorado, January 29th, 2025 — SoftBank Corp. ("SoftBank") and Quantinuum ("Quantinuum") announced they agreed to a wide-ranging partnership in quantum computing.
By combining their respective strengths, both companies will unlock innovative quantum computing solutions that will overcome the limitations of classical artificial intelligence (AI) and realize next-generation technologies.
This unique initiative coincides with the International Year of Quantum Science and Technology (IYQ) in 2025, and it is expected to ignite new business opportunities through the dynamic fusion of AI and quantum computing.
The Necessity of Quantum Computing Beyond the Limits of AI
In this modern era, AI is delivering impressive results across various domains. However, it is widely recognized that there are still significant challenges that AI alone is struggling to overcome. Complex optimization problems, deciphering causal relationship analysis, and conducting high-precision simulations based on fundamental equations remain formidable obstacles for current AI technologies.
Moreover, the hybrid approach that combines Central Processing Units (CPUs), Graphics Processing Units (GPUs), and Quantum Processing Units (QPUs) holds the potential to further extend the capabilities of AI. By leveraging the unique strengths of each type of processing unit, hybrid systems can execute more advanced and diverse computations, providing innovative solutions that surpass traditional limitations.
SoftBank and Quantinuum believe in the power of quantum computing and are committed to exploring its transformative potential.
Current State and Challenges of Quantum Computing
Despite impressive growth in the quantum computing sector, several technical and business challenges need to be addressed to advance the state-of-the-art so that quantum computers are used to solve practical problems.
(1) Building a Business Model
- Initial Investment and Operational Costs: The substantial initial investment and operational costs required for the development and deployment of quantum computers lack concrete cost recovery strategies, which in turn suppresses the drive for companies to develop and adopt the technology.
- Clarification of Revenue Models: The business models for generating revenue, including the methods of offering quantum computers and setting usage fees, have not yet been fully realized.
(2) Establishing Specific Use Cases
- Discovering Use Cases: There is a shortage of use cases that clearly demonstrate which fields quantum computers will be useful in. Understanding the market size and revenue models through clear examples, especially in areas such as quantum chemical calculations and machine learning, is necessary.
- Understanding the Market and Revenue Predictions: It is crucial to specifically identify the areas where computations can only be performed by quantum computers and are commercially viable, as well as to predict the timing and scale of these applications.
(3) Advancing Hardware and Software Technologies
- Limitations and Challenges of Hardware: The current hardware performance (number of qubits and operation precision) of quantum computers is inadequate for handling practical problems, and significant enhancements in performance are needed for practical use.
- Software Development and Error Mitigation: The development of hybrid algorithms that combine traditional methods, as well as advancements in error suppression, mitigation, and correction technologies, are essential to enable practical computations. Furthermore, developing technologies that mutually complement hardware and software are also indispensable.
- Timing for Service Provision: Making decisions based on a deep understanding of technology to provide services at the optimal timing requires assessing the speed of technological advancements and market needs.
Key Activities
SoftBank and Quantinuum are committed to addressing these challenges together to advance the practical application of quantum computers.
(1) Joint Market Research & Business Model Development for Quantum Data Center
- With a view toward the realization of a "quantum data center" capable of performing advanced calculation processing by combining CPUs, GPUs and quantum computers (QPUs), both companies will use the Japanese market as a foothold to conduct global market research in the Asia-Pacific region and other regions, and explore specific business models based on that research.
- Both companies will jointly consider methods to reduce investment risks, such as revenue sharing and cost sharing.
(2) Construction of Quantum Use-Case Timelines and Validation
- SoftBank will provide its own business challenges as use cases.
- Both companies will clarify use cases in quantum chemistry and network analysis, and construct a timeline showing when these use cases will be realized. In quantum chemistry, the search for new optical switch materials for All Optical Networks is anticipated, while in network analysis, the application to anomaly detection and fraud detection in SoftBank's communication network is envisioned.
- Both companies will develop software technology that makes effective use of limited hardware resources, and explore methods for linking CPUs, GPUs, and QPUs.
Comments from each company
Ryuji Wakikawa, Head of Research Institute of Advanced Technology, SoftBank Corp., commented: “SoftBank believes in the potential of quantum computers and has been testing and evaluating various internal issues using quantum computers, and has started to obtain certain results. However, as a telecommunications operator, there are still many challenges remaining regarding how to provide quantum computing services in Japan. Through our collaboration with Quantinuum, which possesses the world's highest-performance quantum computer hardware, we aim to be the first in the world to identify problems that can only be solved by quantum computers and look forward to significantly accelerating the practical application of quantum computing.”
Dr. Rajeeb Hazra, President and CEO of Quantinuum, commented: "Our partnership with SoftBank represents a pivotal moment in the evolution of quantum computing. By combining our strengths, we are poised to unlock innovative solutions that will not only enhance the capabilities of AI but also tackle challenges that have long been beyond reach. Together, we are laying the groundwork for a future where quantum technologies drive transformative advancements across multiple industries."
By integrating quantum computing with AI, this initiative is expected to contribute to problem-solving in diverse fields such as healthcare, finance, logistics, and energy. This collaboration not only addresses unsolved challenges but also creates new market opportunities and fosters technological innovation across society.
About SoftBank Corp.
Guided by the SoftBank Group’s corporate philosophy, “Information Revolution – Happiness for everyone,” SoftBank Corp. (TOKYO: 9434) operates telecommunications and IT businesses in Japan and globally. Building on its strong business foundation, SoftBank Corp. is expanding into non-telecom fields in line with its “Beyond Carrier” growth strategy while further growing its telecom business by harnessing the power of 5G/6G, IoT, Digital Twin and Non-Terrestrial Network (NTN) solutions, including High Altitude Platform Station (HAPS)-based stratospheric telecommunications. While constructing AI data centers and developing homegrown LLMs specialized for the Japanese language with one trillion parameters, SoftBank is applying AI to enhance radio access network performance (AI-RAN) with the aim of becoming a provider of next-generation social infrastructure.
To learn more, please visit https://www.softbank.jp/en/.
About Quantinuum
Quantinuum, the world’s largest integrated quantum computing company, pioneers powerful quantum computers and advanced software solutions. Quantinuum’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With around 600 employees, including 370+ scientists and engineers, Quantinuum leads the quantum computing revolution across continents.
For more information, please visit the website at www.quantinuum.com.
- SoftBank, the SoftBank name and logo are registered trademarks or trademarks of SoftBank Group Corp. in Japan and other countries.
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