Mentioned:
IBM -5.60% GOOG -0.89%
The future of quantum computing might end up being built in Chicago. And IBM is getting behind it.
What’s happening:
- IBM (NYSE: IBM) has announced a new partnership with the Illinois government to establish a National Quantum Algorithm Centre in Chicago
Why it matters:
- The new facility will be built at the Illinois Quantum and Microelectronics Park in Chicago, which is one of the most ambitious new projects aimed at accelerating innovation in quantum computing in the United States of America
- Quantum computing has been experiencing a euphoria in the public markets recently, largely fulled by the recent breakthrough chip that was unveiled by Google (NASDAQ: GOOG)
Going deeper:
- IBM plans to deploy their IBM Quantum System Two quantum computer at the new facility to enable more research and academic breakthroughs around discovering new algorithms that would be impossible without quantum computing technology
- IBM has been consistently making moves to ensure they are on the leading edge of quantum computing, previously launching their first European based quantum computing data centre in Ehnigen, Germany
The intrigue:
- The Illinois Quantum and Microelectronics Park in Chicago is being built in the former location of the United States Steel manufacturing facility which sits on the shoreline of Lake Michigan
