The company says they’ll have a computer with 4,000 qubits by 2025.
However, tech experts say quantum computers need millions of qubits to be fully functional. Many expect that to come to fruition by 2027.
Alphabet has been operating a quantum computing division for the past six years and, in March 2022, announced it would become a standalone company called Sandbox AQ.
They received “nine figure” funding in 2022 and had raised another $500 million by February 2023.
Although projects from IBM and Alphabet show promise, other lesser-known companies are creating competition and raising large amounts of funding in the space.
For example, Origin Quantum, a Chinese company, raised $148.2 million in 2022, the largest amount of the quantum computing industry for the year.
Q-CTRL was launched as Australia’s first VC-backed quantum tech company in 2017.
Company leaders are focused on overcoming the industry’s challenges associated with hardware error and instability through quantum control infrastructure software.