Atom Computing announced its plans to invest $100 million over the next three years in Boulder, Colorado to build its quantum computers.
Colorado started to boost its involvement in quantum computing about two years ago, said Colorado’s governor, Jared Polis.
Quantum computers, which use quantum mechanics, will be able to operate millions of times faster than today’s advanced supercomputers. The quantum computer technology is still in its early stages.
The global quantum computing market size was $392.5 million in 2020. The quantum computing market is expected to grow from $486.1 million in 2021 to $3,180.9 million in 2028, exhibiting a CAGR of 30.8 percent during the forecast period.
The University of Colorado Boulder has been a center for quantum physics-related research, and is home to JILA, formerly known as the Joint Institute for Laboratory Astrophysics, a joint institute of the university and the National Institute of Standards and Technology.
Atom Computing uses lasers to control individual atoms and build qubits, the basic unit of quantum information.
Atom Computing, a Berkeley, California-based quantum computer maker, has raised a total of $80 million to-date. Third Point Ventures led the round, followed by Prime Movers Lab and insiders including Innovation Endeavors, Venrock and Prelude Ventures.