Quantum News Nexus

Pasqal’s stock (NSDQ: PSQL) ended its second day of trading Monday by closing at $18.74. The company went public last Friday after its merger with Bleichroeder Acquisition Corp. II officially closed. The French company’s stock opened last week at $16.98, and has pushed as high as $24.37.

Meanwhile, Pasqal continued to corner quantum opportunities in Saudi Arabia, announcing a new research agreement with King Abdulaziz City for Science and Technology’s (KACST) National Center for Quantum Technologies (NCQT) in Saudi Arabia. This agreement comes less than a week after Pasqal announced a joint venture agreement with Eleven Ventures focused on research and deployment in Saudi Arabia and across the broader Middle East region. Pasqal also has a long-standing partnership with Saudi oil giant Aramco. I don’t think there is another company from outside this region that has been so aggressive in pursuing opportunities there.

IBM and University of Chicago researchers said they completed a demonstration of quantum advantage involving 70 logical qubits, according to Science Daily. The demo took only 15 minutes to solve a problem the patterns said would be intractable for a classical computer.

Diffraqtion, a company that has been developing quantum imaging technology for space applications, raised $10 million in funding, according to a SpaceNews report. Investors include the venture financing arms of Lockheed Martin and Sumitomo Corp.

Xanadu Quantum Technologies said it is creating a photonics R&D center, helped along by a $195 million CAD ($140.7 million USD) investment from the Canadian government.

D-Wave CFO John Markovich is retiring.

The second international Quantum Datacenter Alliance (QDA) Forum will be held on October 1 at Battersea Power Station in London, according to the QDA. The QDA was announced earlier this year by Nu Quantum and founding partners Cisco, NTT Data, OQC (Oxford Quantum Circuits), QphoX, Quantinuum and QuEra Computing to work on advancing the integration of quantum hardware into existing and future data center infrastructure. 

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Quantum News Nexus is a site from freelance writer and editor Dan O’Shea that covers quantum computing, quantum sensing, quantum networking, quantum-safe security, and more. You can find him on X @QuantumNewsGuy and doshea14@gmail.com.