Quantum computing nears commercial breakthrough, IBM CEO says
Arvind Krishna said quantum computing will begin generating meaningful revenue before the decade ends as investment in the sector accelerates, in an interview on CNBC.
IBM CEO Arvind Krishna has stated that quantum computing may soon generate meaningful commercial revenue, potentially contributing to IBM's revenue and profit by 2028 or 2029. The technology is projected to hold a trillion-dollar value by the end of the 2030s. Quantum computers can solve mathematical problems in seconds that regular computers would take thousands of years to complete.
Companies like IBM, Google, IonQ, Rigetti Computing, and several startups are competing to build quantum machines capable of solving these complex problems. Unlike artificial intelligence, which fuels demand for graphics processors, quantum computing targets different challenges such as molecular simulations, logistics optimization, materials science, and cryptography.
IBM has already demonstrated the technology's potential by using quantum computers to model materials that conventional computers couldn't. In May, IBM announced plans for a standalone quantum chip foundry backed by a $1 billion investment from the U.S. Department of Commerce and a matching $1 billion commitment from the company.
As the industry progresses, it will require new facilities and supply chains to support fault-tolerant quantum computers. While some believe quantum computers could eventually crack Bitcoin encryption, most experts disagree, noting that it's still a long way off and developers are already working on quantum-resistant cryptography.
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