Intel promises $50M for quantum computing research
A fully functioning quantum computer is still twelve years off, according to Intel, but the company is already plowing research funding into the field.
On Thursday, Intel promised to fund QuTech, a research unit at the Technical University of Delft in the Netherlands, to the tune of $50 million over 10 years, and to provide additional staff and equipment to support its work.
QuTech hopes the partnership will allow it to combine its theoretical work on quantum computing with Intel's manufacturing expertise to produce quantum computing devices on a larger scale.
Quantum computers are composed of qubits that can take on multiple values simultaneously, unlike the bits stored and processed in traditional computers, which are either 0s or 1s. This multiplicity of values makes quantum computing, at least in theory, highly useful for parallel computing problems such as financial analysis, molecular modelling or decryption.
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