The University of Chicago and the University of Tokyo will receive $150 million from IBM and Google for quantum computing research, according to the Wall Street Journal. Among them, IBM will provide $100 million to the two schools, while Google will donate $50 million to the two universities.
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Quantum computing is one of the hottest cutting-edge technologies at the moment, and quantum computers are hailed as the future of computing, capable of performing calculations that are difficult or impossible on conventional computers.
In May 2021, Google announced at the I/O Developers Conference that it plans to build a commercial quantum computer by 2029 that can perform large-scale calculations without errors. To fulfill the promise of quantum computing, Google has built a quantum AI campus in Santa Barbara, California. The company said it will develop quantum computers on the campus.
In February, Google announced that quantum computers had made a breakthrough in error correction, reaching a second milestone on the road to practical quantum computers.
Google is one of the few companies in the world that has set a specific release date for a quantum computer. Besides Google, IBM and Canadian quantum company D-Wave Systems are also working toward the same goal.
In December 2022, Research And Markets pointed out in the 2022 Global Quantum Computing Market Report that due to the need for secure communication and digitization, the emergence of advanced applications and the early adoption of quantum computers in some industries, investment in quantum computing technology has increased, and With the rise of numerous strategic partnerships and collaborations among major suppliers, the global quantum computing market will reach USD 9,563.1 million by 2031, growing at an annual rate of 28.6% during 2021-2031.
