The quantum computing technology developed by D-Wave gets ongoing scientific debate, but it's also getting money, US$28 million last week, bringing its total funding to about US$150 million.
This Canadian company was started 15 years ago and is one of the most tenacious and longest-running tech start-ups around. It has built quantum computing systems used by NASA and Google in a joint project, Lockheed Martin, and an intelligence agency it can't name.
Its system has been termed controversial and runs an ongoing scientific gauntlet, as researchers ping-pong back and forth on their findings. One recent research paper didn't find evidence of a speedup in a benchmark test, but a Google test did. This doesn't matter. With investor money, D-Wave presses forward, building ever faster chips as the competition increases.
With this latest round of funding, a broader deployment by D-Wave may not be far off. "We think this is the perfect technology to embed in the cloud," said Vern Brownell, the CEO at D-Wave.
D-Wave intends to use its latest investment on software development, including tools to expand its professional services capabilities and ultimately APIs for developers. Within a few years, the company hopes to have a cloud environment that can support "hundreds" of customers, and potentially have a platform available for global use in five years, Brownell said.
Quantum computing isn't replacing today's computing technology, or classical computing as it's now called, but Brownell said that for certain types of problems "you will see significant speedups."
"If we didn't expect there to be business value, we wouldn't be doing this," Brownell said. For now, it's the investors that see the value.
"The fact that D-Wave is the only company today offering a commercial solution, presents a very attractive environment for investors, especially those willing to balance higher risks and higher rewards," said Michael Feldman, a high-performance computing analyst at Intersect360 Research. "This latest round of money suggests the D-Wave technology is getting closer to a payoff."
Theoretically, quantum computing is capable of incredible compute power. A bit can hold one of two values, 1 or 0. A quantum computer uses subatomic particles that can hold states, 0 and 1 simultaneously, or a qubit. Instead of doing calculations one after the other, the computing power can increase exponentially. Two qubits can hold four distinct states but 10 qubits can have 1,024 states.
D-Wave has a 512-qubit chip and is working on a chip with more than 1,000 qubits.
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