Quantum News and Commentary | Tuesday, July 8, 2025
Quantum companies: give me money, lots of money
Today’s Brief Commentary:
The next newsletter will be a special edition announcing the availability of two market landscape reports, one on QPUs, which goes well beyond what I published in April, and a new one on quantum software.
The links today are dominated by financial dealings. D-Wave raised another $400 million, only to be topped a few days later by IonQ with $1 billion. This is one of the reasons why companies want to go public, but it should be for cementing and extending a market position, R & D, vertical integration, and diversification. It should not be for mere survival because no one wants to buy your product. Remember Zapata?
As much as D-Wave and IonQ are in the public quantum company financial news, don’t forget about the giants like IBM, Microsoft, Google, and Amazon. They can spend as much as they want on their programs and, for the most part, don’t have to tell you how much. Indeed, IBM Ventures just invested in QEDMA, which is a bigger deal than it might seem. IBM does not throw its money around often or easily in the quantum space, so take heed of this.
The final link is to the new Quantum Europe Strategy, which, to be polite, seems to have landed with a thud. All the recent cross-country quantum strategies of late show evidence of weeks of political wrangling by staffers to the point where they say the usual and obvious things. Country strategies can be much more pointed and aggressive. For those with native quantum computing hardware companies, I expect them to initiate a well-funded and professionally led industrial policy that will yield significant systems to satisfy their domestic quantum supercomputing and cryptographic needs.
Don't forget to check out and bookmark our new sortable list of upcoming quantum technology conferences.
Financial Dealings and Earnings Announcements
D-Wave Announces Successful Completion of $400 Million At-the-Market Equity Offering
Date: Tuesday, July 1, 2025
Excerpt: D-Wave Quantum Inc., a leader in quantum computing systems, software, and services, and the world’s first commercial supplier of quantum computers, today announced that it has successfully completed sales of $400 million in gross proceeds of its common stock pursuant to its previously disclosed $400 million at-the-market equity offering program (the “ATM Program”). The $400 million ATM Program, that commenced on June 11th and ended on June 27th, was completed at an average price per share of $15.18. This average price represents a $9.08 or 149% premium to the $6.10 average price per share of the most recent $150M ATM Program that was completed in January of this year. The proceeds from this offering bring the Company’s current cash balance to approximately $815 million.
Delft-based Groove Quantum secures €10M EIC funding to accelerate germanium-based quantum computing
https://siliconcanals.com/groove-quantum-lands-e10m-in-eic-funding/
Author: Vishal Singh
Date: Wednesday, July 2, 2025
Excerpt: Delft-based Groove Quantum, a company that develops germanium-based quantum computing technology, has obtained €10M in funding through the European Innovation Council (EIC) Accelerator programme. This includes a €2.5M grant component.
QEDMA raises $26M with participation from IBM to tackle quantum computing errors and accelerate pace to quantum advantage
Date: Thursday, July 3, 2025
Excerpt: QEDMA, a leading developer of quantum noise resilience solutions, announced today $26 million in Series A funding. The round was led by Glilot Capital Partners through its early growth fund, Glilot+, with new participation from IBM, Korean Investment Partners, and others, alongside existing investors including TPY Capital. QEDMA's software solution, addresses the critical challenge of reducing errors in quantum computing. QEDMA expects to demonstrate quantum advantage in the coming months through partnerships with multiple quantum computing companies and research institutions.
IonQ Announces Pricing of $1.0 Billion Equity Offering
Date: Monday, July 7, 2025
Excerpt: IonQ, Inc. (NYSE: IONQ) (“IonQ” or the “Company”), a leading commercial quantum computing and networking company, today announced the pricing of a $1.0 billion equity offering consisting of 14,165,708 shares of IonQ’s common stock, each at $55.49 per share, and pre-funded warrants to purchase 3,855,557 shares of IonQ’s common stock, each at $55.49 per pre-funded warrant, each representing a premium of about 25% to IonQ’s closing stock price on July 3, 2025, as well as seven-year warrants to purchase 36,042,530 additional shares of IonQ’s common stock, for no additional consideration, at an exercise price of $99.88 per share. The securities offered will be purchased from the underwriter by Heights Capital Management, Inc. (the “investor”).
Coding for Quantum Computers
Release News: Qiskit SDK v2.1 is here!
https://www.ibm.com/quantum/blog/qiskit-2-1-release-summary
Date: Wednesday, July 2, 2025
Excerpt: One of the most exciting new features in Qiskit v2.1 arrives via the expanded C API, which now enables developers to construct quantum circuits directly in C. Future releases will give you the ability to transpile circuits. In the meantime, let’s take a look at one of the use cases where this most recent expansion of the Qiskit SDK’s C API really shines: high-performance circuit construction.
With the new C API, circuits that might take several milliseconds to construct in Python can now be built in a fraction of that time — just a few hundred microseconds. Case in point: constructing a 1000-qubit GHZ state is approximately 10-20x faster when mixing C and Python compared to the fastest pure Python.
Quantum Computing Applications
Xanadu and Mitsubishi Chemical to Collaborate on Developing Quantum Algorithms for EUV Lithography
Date: Wednesday, July 2, 2025
Excerpt: In this partnership, researchers from Mitsubishi Chemical's Materials Design Laboratory will provide deep expertise on EUV photoresist materials, including their molecular structures, compositions, and reactivity. They will offer a fundamental understanding and quantitative analysis of key physical processes such as EUV absorption, Auger decay, and secondary electron effects. The Quantum Algorithms team at Xanadu will provide quantum algorithms expertise in designing the simulation algorithms that model light-matter interactions and secondary electron effects.
Quantum Data Centers
The Quantum Data Center of the Future: Q&A
https://www.iotworldtoday.com/quantum/the-quantum-data-center-of-the-future-q-a
Author: Berenice Baker
Date: Tuesday, July 1, 2025
Excerpt: The Quantum Datacenter Alliance, an industry-led initiative to foster collaboration and address the challenges of scaling quantum computing for data center applications, recently held its inaugural forum in the Art Deco surroundings of the control room of Battersea Power Station in London.
The QDA was founded by Nu Quantum, a Cambridge University spin-out that specializes in quantum networking hardware. The company is building what it calls “entanglement fabric,” the essential networking infrastructure needed to scale quantum computers to their full potential.
In this exclusive interview, Carmen Palacios-Berraquero, founder and CEO of Nu Quantum, discusses this innovation and her vision for the future of quantum computing.
Sovereign Initiatives
Quantum Europe Strategy
https://digital-strategy.ec.europa.eu/en/library/quantum-europe-strategy
Date: Wednesday, July 2, 2025
Excerpt: The European Commission has adopted a Quantum Strategy to position Europe as a global leader in quantum by 2030. Abstract representation of quantum technology.
Despite its remarkable progress in quantum technology, the EU is currently lagging behind in translating its innovation capabilities and future potential into real market opportunities, while also struggling with fragmentation of strategies and roadmaps across Member States. While highlighting Europe’s strengths, the Quantum Europe Strategy aims to turn Europe into a quantum powerhouse by fostering a resilient, sovereign quantum ecosystem, that fuels startup growth and transforms breakthrough science into market-ready applications, while maintaining its scientific leadership.
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Dr. Bob Sutor is the CEO and Founder of Sutor Group Intelligence and Advisory. Sutor Group offers comprehensive market insights and in-depth technical expertise, drawing on over four decades of experience working with startups and large corporations. It advises Deep Tech startups, companies, and investors on quantum technologies, AI, and other emerging tech fields.
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