French quantum firm Pasqal reports revenue jump after US listing
Pasqal's technology is built on Nobel Prize-winning research by co-founder Prof Alain Aspect. Read more: French quantum firm Pasqal reports revenue jump after US listing
French quantum firm Pasqal has announced a 14pc growth in revenue for the first half of the year, reaching more than €300m. The company, valued at over $1.5bn after its US listing, boasts significant cash reserves and plans to commercialize its neutral-atom quantum computers. Pasqal, founded in 2019 by Nobel Prize-winning researcher Prof Alain Aspect, offers quantum systems for on-premises and cloud use.
The company serves clients across various sectors, including Saudi Aramco, Crédit Agricole CIB, and LG Electronics. In its public debut, Pasqal reported a €60m operating loss, with revenue from quantum processing unit-related services up 34pc year-over-year. The company has offices in Saudi Arabia, Canada, the US, and South Korea.
Dr Wasiq Bokhari, Pasqal's CEO, highlighted ongoing engagement with key customers in financial services, energy, and advanced materials, as well as progress in logical qubits and complex differential equations simulations. Pasqal plans to list on Euronext next year.
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