Overview
- IBM CEO Arvind Krishna said on July 30 that quantum computing should produce a measurable lift to IBM’s revenue and profit by 2028–2029 and that the technology could be worth about $1 trillion by the late 2030s.
- IBM and startup Algorithmiq released research the companies described as showing ‘quantum advantage,’ reporting computations and verified results that exposed materials behavior classical computers could not model.
- In May IBM announced plans for a standalone quantum wafer foundry supported by a $1 billion CHIPS commitment and a $1 billion IBM match as part of a broader multibillion investment to scale quantum manufacturing.
- Near-term investor pain from delayed enterprise deals and a steep mid-July earnings shock has pressured the stock, but IBM says many postponed projects were deferrals and that roughly 40% had closed within weeks.
- Rivals from established tech firms to startups are accelerating work on hardware and software even as major technical hurdles—high error rates, control complexity and scaling to fault-tolerant systems—keep commercial timelines disputed and raise follow-on questions about facilities, supply chains and cryptographic security.