4/2/2026 at 5:16:27 AM
I worked at a quantum computing company that builds superconducting QC chips (so, not really applicable to one of the “bombshells” from the article). My team was designing the software stack which allows to control the QC, run quantum jobs/algorithms, and calibrate the parameters.I’ve made two attempts to explain the work we’ve been doing and to explain the current realistic state of the industry:
1. A talk at PyCon: https://youtu.be/tT1YLP5T71Y
2. A free ebook “ Quantum Computing For Software Engineers” https://leanpub.com/quantum-computing-for-software-engineers
The company I left a few months ago is planning its IPO this year. Like almost all other quantum companies, it’s gonna be a SPAC merger, not a pure IPO. Those traded companies mentioned in the other comments are mostly SPACs as well.
by freetonik
4/2/2026 at 7:34:18 AM
If they're going public I imagine they already sell some kind of QC chips. But, like, who buys them? Yesterday there was a new paper [1] that shows how Shor's algorithm could break realistic encryptions with as little as 10,000 qubits (instead of millions), but as far as I know quantum hardware is still orders of magnitude below even that target. So how big can the market actually be? Shipping to universities or other QC companies for playing around with some actual hardware is nice and all, but in the end someone will be left holding the bag. There is zero profit to be made at the end of the chain.by sigmoid10
4/2/2026 at 9:06:29 AM
>There is zero profit to be made at the end of the chain.Think of all the "sales" that comprise such things as space missions (ones without immediate real-world use) or large hadron collider. Or any other large, expensive, long scientific project. If you measure the outcome purely in money within decades, these things can be said to be zero or negative profit.
How much profit was at the end of the chain of the current Artemis lunar mission? Well, zero or negative, but lots of companies and people up the chain made meaningful progress and made a living. Quantum computing is just like that in my opinion.
The biggest problem in my eyes is the "game" of commercialization. This technology is in early research phase, but it's so expensive and not immediately game-changing that the public funding was never enough. So, companies started to play the "we sell products" and "we do IPO" games, which IMO doesn't make sense.
by freetonik
4/2/2026 at 9:00:29 AM
During my 3.7 years at the company, we had dozens of sales of full-stack quantum computers, chips + cryostat + control electronics + software, ranging from 5 to ~100 physical qubits. Naturally, the buyers are mostly research institutions and univercities who need a real quantum computer to do research on quantum computation and simulation (to a lesser degree with the superconducting technology, though).(Often the research is done purely within clasically-simulated quantum computers, i.e. virtual QCs, but to verify and make the research publishable they need to run at least partial sub-problems on a real chip.)
Another, smaller, market is HPC centers. They buy and install quantum computers into existing HPC infrastructure because a) they have a few customers who need it (sometimes those same research institutions/universities), and b) they need to solve the integration problem for the future when QCs are actually used for real-world problems and big customers come to HPCs to run both classical and quantum high-performance jobs.
Here is an excerpt from my book I linked above, just to give a bit more context:
---
Since quantum computers are essentially analog devices that allow you to control, in a limited fashion, a set of quantum objects, you can do some research in foundational quantum physics. [...] Still, given the current state of the industry, classical computers outperform most quantum systems. But the research applied to smaller QCs can be scaled once the hardware scales.
Of course, the main area is quantum computing itself. From abstract, mathematical notions of algorithms to very low-level questions of calibration, many universities and research organizations are eager to have a quantum computer available to prove their theories and discover new properties. Commercial companies that deal with material science, battery technology, agriculture, and chemistry are buying quantum computers (or at least buying access to one) because they want to be ready if and when truly large-scale QCs become available. [...]
And finally, integration research. This is the least known and least discussed topic in the industry but is very important. Its significance is one of the motivations for writing this book. Quantum computers, being research tools, are not normal products. They are driven by software, like anything else, but this software changes rapidly and is rarely written with long-term evolution in mind. If you buy a quantum computer today, chances are your code will not work on any other quantum computer, or even on the next iteration of the same machine. At the same time, researchers often need to work with multiple types of machines simultaneously, and HPC (high-performance computing) centers, i.e. supercomputing data centers, want to integrate quantum computers into their existing infrastructure and provide a "quantum compute" service to their users.
by freetonik