Jun. 4 at 6:51 PM
The Department of Commerce announced it signed preliminary agreements to provide
$2 billion in funding and take equity stakes in nine companies linked to the “quantum ecosystem,” including Quantinuum, which will receive
$100 million. The funding for the deals comes from the 2022 Chips and Science Act.
“It’s a great validation of quantum, of Quantinuum, as a strategic asset for the U.S. quantum industry and we’re very thankful that we have this ability now to be able to shoulder this responsibility, to take trapped ion-based computing forward,” Hazra said.
Quantinuum said in its prospectus that revenue decreased 73% to
$5.24 million in the first quarter from
$19.1 million a year earlier. The company recorded a net loss in the latest quarter of
$136.5 million after losing
$30.5 million during the same period one year ago.
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