IBM CEO says quantum computing will contribute to revenue by 2028
IBM CEO Arvind Krishna projects quantum computing will contribute to revenue by 2028 or 2029, signaling its commercial viability. Krishna foresees a trillion-dollar market by the end of the 2030s, intensifying competition with Alphabet and others. The technology's potential to crack crypto encryption is a concern, though experts believe quantum-resistant upgrades will be ready in time.
IBM quantum revenue timeline
▪IBM CEO Arvind Krishna expects quantum computing to contribute to the company's revenue and profit by 2028 or 2029.
▪Arvind Krishna projects that quantum computing will create a trillion dollars of value by the end of the 2030s.
Quantum computing competition
▪Companies including IBM, Alphabet, IonQ, and Rigetti Computing are competing to commercialize quantum computing technology.
▪The goal of quantum computing is to build machines capable of solving problems that are impractical for today's most powerful classical computers.
Quantum technology applications
▪IBM has used its quantum computers to model material properties for applications in batteries, fusion energy, and drug discovery.
▪Quantum computers can solve certain mathematical problems in seconds that would take conventional computers thousands of years.
▪Potential applications for quantum computing include molecular simulations, logistics optimization, materials science, and cryptography.
Quantum chip manufacturing investment
▪In May, IBM announced plans to build a standalone quantum chip foundry.
▪The foundry is supported by a $1 billion investment from IBM and a matching $1 billion from the U.S. Department of Commerce's CHIPS program.
Bitcoin miner infrastructure diversification
▪Publicly traded bitcoin miners like MARA Holdings, Riot Platforms, and CleanSpark have diversified into AI and high-performance computing.
▪Quantum computers require different hardware and operating environments than AI data centers, necessitating new facilities and supply chains.
▪These bitcoin mining companies leverage their existing data centers and power infrastructure for new computing workloads.
Quantum cryptography security concerns
▪Most experts believe the scenario of a quantum computer cracking blockchain encryption is still a long way off.
▪Developers are already working on quantum-resistant cryptography to counter future threats from advanced computers.
▪A sufficiently advanced quantum computer could potentially crack the encryption that protects Bitcoin wallets and other blockchain networks.
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