Samsung, UAE funds lead US$55 million investment in quantum computing startup

REUTERS: US quantum computing startup IonQ said on Tuesday it raised US$55 million in a funding round that was led by venture funds backed by Samsung Electronics and the government of the United Arab Emirates.

Alphabet Inc's Google, International Business Machines Corp and Microsoft Corp have all either made investments or launched research projects around quantum computing. Unlike some of its competitors that need to keep the environment around the quantum computer at absolute zero, IonQ's computers operate in room temperature, said Chief Executive Officer Peter Chapman.Chapman said most of IonQ's quantum computer parts are commonly available off-the-shelf, which helps to keep the cost down.

Around the world, governments are concerned about quantum computing because it could be used to break today's encryption technology.

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