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MarketScreener Homepage  >  Equities  >  OTC Bulletin Board - Other OTC  >  Quantum Computing Inc.    QUBT

QUANTUM COMPUTING INC.

(QUBT)
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QCI Introduces Simplified Cloud Access and Software Execution for Wide Selection of Quantum Computers via Mukai™

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08/20/2020 | 01:01pm EDT

LEESBURG, Va., Aug. 20, 2020 (GLOBE NEWSWIRE) -- Quantum Computing Inc. (OTCQB: QUBT) (QCI), a technology leader in quantum-ready applications and tools, and only public pure play in the quantum computer space, now offers simplified access to several of the world’s top quantum computers (QCs) with its industry-leading Mukai™ software development and execution platform.

QCI is the first company with a quantum software development and execution platform to provide the widest selection of QCs via the cloud, including those offered by IonQ, D-Wave, IBM, Rigetti, and others.

The same high-level constrained-optimization interface Mukai provides for running applications using its state-of-the-art classical solver can now be used to solve problems on a range of quantum computers, but without any program changes or setting up individual accounts with each QC provider.

Developers can now exploit and evaluate different quantum processing units (QPUs) simply by selecting the target QC from within the Mukai interface. Mukai’s software execution layer can also direct the execution of problems to either classical (Intel® or AMD processor-based) or a hybrid of quantum and classical computers, based on user guidance. 

Mukai users do not need to learn or implement the varying highly technical methods of connecting the classical environment to the target QC. By providing a common, simplified interface, Mukai can save developers and programmers significant time and resources, while vastly accelerating the development process. 

Mukai is also the first and only platform to achieve best-in-class performance and deliver performance advantages using quantum computing software tools running on classical computers. The results of this breakthrough in performance was recently published in a benchmark study.

“Every QC available today takes a different approach to quantum processing, so different ones may be better suited to certain types of constrained-optimization problems than others,” noted QCI chief technology officer, Mike Booth. “Our broad selection of available QCs delivered by Mukai’s simplified interface provides developers a much easier way to test their applications on different platforms.”

Mukai also allows developers and organizations to discover how they can migrate their existing applications to quantum-ready solutions today and realize superior performance — even when running their solutions on classical computers.

QCI recently launched a free trial that grants full access to the entire, fully functioning Mukai software platform. It includes the Mukai API for calling on a proprietary set of highly optimized quantum-ready solvers that execute on a cloud-based classical computer infrastructure and delivers differentiated performance for many quantum-ready algorithms.

The platform’s QuOIR™ optimization layer makes it easier to apply Mukai’s superior performance to real-world constrained-optimization problems by automatically calculating a balance between obeying constraints and finding an optimal solution.

Mukai’s cloud-based approach provides developers a highly effective and practical way to develop quantum-ready applications. While quantum computing is typically a very high-dollar investment given the sophisticated and costly hardware requirements, Mukai makes quantum application development and execution more affordable, easier, flexible, and readily scalable.

To learn more about the free trial, contact John Dawson at trial@QuantumComputingInc.com or signup online today here.

About Quantum Computing  
Quantum Computing is based on controlling and manipulating the physics of nature's smallest objects, like single atoms and photons, rather than electronic circuits, to create the on-and-off states required for computations and signal transmission. 

While traditional computers process and store the on-and-off information as either zeros or ones, quantum computers use quantum bits or qubits, which can represent and store information as both zeros and ones simultaneously. As a result, a QC can potentially sort through a vastly larger set of possibilities and generate probable solutions faster and with better quality of results.

Such quantum-powered solutions can significantly mitigate the real-world impact to revenue or business operations posed by a variety of adverse scenarios, including hurricanes, floods, power outages, and wildfires. Companies can leverage the robust and diverse solutions offered by Mukai to minimize such disruptive, high-impact events in real-time.

Optimization can also be valuable in R&D contexts like drug design, where better predicted protein folding can speed the design process, increase drug efficacy, and guide the search for patient cohorts who might benefit. Portfolio managers can also maximize their client’s return on investments by optimizing their asset allocations using quantum-based optimization.

Altogether, such applications can potentially generate hundreds of billions of dollars in savings annually. This is why the market for quantum computing has started to grow at a rapid rate, now climbing at a 23.2% CAGR to reach $9.1 billion by 2030, according to Tractica.

While getting increasingly closer, today’s quantum computers have yet to deliver higher level processing performance compared to classical super computers. However, Mukai can deliver today the best-known quality of results, time-to-solution, and diversity of solutions using quantum concepts in a commercially available service. This superior capability enables business and government organizations to become quantum-ready today and realize immediate advantages when solving real world problems.

A significant advantage for applications developed with Mukai is that they will be ready to run on the quantum computers of tomorrow when they achieve their anticipated performance superiority. This will preserve an organization’s investment in early quantum software development while ensuring a competitively faster time-to-market when superior quantum performance arrives. 

About Quantum Computing Inc.
Quantum Computing Inc. (QCI) is focused on developing novel applications and solutions utilizing quantum and quantum-ready computing techniques to solve difficult problems in various industries. The company is leveraging its team of experts in finance, computing, security, mathematics and physics to develop commercial applications for industries and government agencies that will need quantum computing power to solve their most challenging problems. For more information about QCI, visit www.quantumcomputinginc.com

Important Cautions Regarding Forward-Looking Statements
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. Those statements include statements regarding the intent, belief or current expectations of Quantum Computing (“Company”), and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

The Company undertakes no obligation to update or revise forward-looking statements to reflect changed conditions. Statements in this press release that are not descriptions of historical facts are forward-looking statements relating to future events, and as such all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. Statements may contain certain forward-looking statements pertaining to future anticipated or projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this press release that are not statements of historical fact may be considered to be forward-looking statements. Words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," “aim to”, or variations of these or similar words, identify forward-looking statements. These risks and uncertainties include, but are not limited to, those described in Item 1A in the Company’s Annual Report on Form 10-K, which is expressly incorporated herein by reference, and other factors as may periodically be described in the Company’s filings with the SEC.

Mukai™ and QuOIR™ are trademarks of Quantum Computing Inc. Intel® is a trademark of Intel Corporation.

Company Contact
Robert Liscouski, CEO
Tel (703) 436-2161
info@quantumcomputinginc.com 

Investor & Media Relations Contact
Ron Both or Grant Stude
CMA Investor Relations
Tel (949) 432-7566

Email Contact

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© GlobeNewswire 2020

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Financials (USD)
Sales 2019 - - -
Net income 2019 -8,38 M - -
Net Debt 2019 1,51 M - -
P/E ratio 2019 -2,64x
Yield 2019 -
Capitalization 69,2 M 69,2 M -
EV / Sales 2018 -
EV / Sales 2019 -
Nbr of Employees 7
Free-Float 48,2%
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Managers
NameTitle
Robert P. Liscouski Chairman, President & Chief Executive Officer
Christopher B. Roberts Chief Financial Officer & Director
Michael Booth Chief Technology Officer
Bertrand Velge Independent Director
Justin Schreiber Independent Director
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