The quantum computing field is continuing to advance.
This can be seen from companies diversifying their strategies and governments getting more involved in funding the efforts
It’s against this backdrop that International Business Machines Corporation (NYSE:IBM) has agreed to acquire HRL Laboratories from Boeing Co. (NYSE:BA) and General Motors Co. (NYSE:GM). HRL Laboratories is a research lab with deep expertise in advanced materials and quantum technologies, and buying it will give IBM a second platform to work with as it races to build quantum computers. IBM’s bid to diversify its quantum strategy comes as it faces heating competition from Alphabet Inc. (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT) and other technology leaders in the quantum computing field.
Governments and Big Tech Are Spending Billions on Quantum Computing Quantum computers are expected to reshape industries across the board, bringing extraordinary capability to solve problems that would take regular computers thousands of years to work through. In light of this, governments and tech companies are seeking to secure leadership in the quantum computing field for both commercial and strategic priorities. IBM has committed to investing more than $10 billion in quantum computing efforts over the next five years.