Classiq wants to streamline quantum software work for more businesses

Quantum computing software company Classiq Technologies announced Tuesday it is integrating its software with Nvidia CUDA-Q to help streamline work for quantum researchers, especially those in the hybrid quantum-classical computing realm. 

Classiq has a team of 70 quantum developers and engineers based in several cities and headquartered in Tel Aviv, Israel. It raised $49 million in a series B round in late 2022. The company is already working with large companies in the financial industry and previously named Rolls Royce and Nvidia as collaborators on quantum computational fluid dynamics.

Its work with open-source CUDA-Q follows Nvidia’s announcement at GTC2024 of the creation of a cloud microservice to allow developers to build and test new quantum algorithms and applications using simulators and tools for hybrid quantum-classical computing.

High Performance Computing and quantum are increasingly being connected by hybrid algorithms, co-location of hardware and even a growing number of hybrid developers, according to Classiq.

“More and more near-term quantum involves hybrid jobs,” said Erik Garcell, head of technical marketing at Classiq, in an interview with Fierce Electronics.

He said financial services companies are using quantum to seek first mover advantage, while all of Classiq’s customers want to build a data transformation roadmap that allows their companies to use quantum where they don’t want an interruption of service now being offered via classical computing.

Classiq’s software is free to universities for research and is offered as a SaaS model to enterprises. Users don’t have to be experts to begin a quantum journey.

“We’re trying to enable quantum for industry,” Garcell said. “It’s a huge hassle to program these systems and developers have to program at the assembly-level language where they are essentially talking to hardware.”  And with various types of quantum hardware emerging, the task can be complex.

He said current quantum software platforms work with 10 to 50 qubit computers and are not scalable as hardware reaches more than 100 cubits. Classiq markets itself has being able to overcome such scalability limits.

Classiq’s software platform encompasses IDE, compiler and OS and is designed to take users from algorithm design to execution. In February, AWS outlined in a technical blog how Citi partnered with Classiq to advance quantum for portfolio optimization.   For reference, JPMorgan Chase in July 2023 released a 29-page analysis on Quantum computing for the finance industry.

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