Alphabet Inc. (NASDAQ: GOOGL) wants to build a quantum computer by the end of this decade that could be used commercially to handle large-scale scientific and business calculations with an exponentially higher efficiency and without errors, revealed Hartmut Neven of Google’s Quantum AI program.
Google unveils a new Quantum AI campus in Santa Barbara
The search giant will make a multi-billion-dollar investment to realise the plan starting with a new Quantum AI campus in Santa Barbara that it unveiled on Tuesday at its annual developer conference. The California-based campus features a quantum data centre, quantum processor chip fabrication facilities, and hardware research labs.
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Also in the developer conference, Google updated many of its services, from operating system to maps, to better position itself in a pandemic-hit world that is more digitally connected than before.
The race to commercialise quantum computers has seen sizeable investments in recent years from notable players other than Google, including D-Wave, IBM and Honeywell International. Big cap companies like Volkswagen, JPMorgan Chase, and Visa are currently experimenting with early-stage quantum technology.
Google will offer its quantum-computing services via cloud
Dr Neven further highlighted that Google will turn to cloud to offer its quantum-computing services. The U.S. tech giant is confident that harnessing quantum physics will speed up machine learning, help make more energy-efficient batteries and fertilisers with minimal carbon dioxide emissions. Neven acknowledged the challenges in developing the technology that will potentially find countless applications but said:
“We are at this inflexion point. We now have the important components in hand that make us confident. We know how to execute the road map.â€
According to Gartner (global research and advisory firm), close to 40% of large companies are likely to penetrate the quantum-computing space by 2025. Research and Markets sees the global quantum-computing hardware market to be worth more than $7.1 billion (£5.03 billion) by 2026.
Alphabet’s performance in the stock market
The news comes only a few weeks after Google-parent Alphabet Inc. published its financial results for the fiscal first quarter. Alphabet opened at $2,231 per share on Wednesday and is currently exchanging hands at a higher $2,261 per share.
In comparison, the American multinational had started the year at $1,726 per share after recovering from a low of $1,068 per share in March 2020. At the time of writing, Alphabet has a market capitalisation of $1.53 trillion and a price to earnings ratio of 29.21.
