News & Events zu Quantum X Labs Inc (QXL)QXLQuantum X Labs Inc

D-Wave Quantum CFO Markovich Retires, Greg Golkov Takes Over

Welcome to the latest edition of "Quantum Leap" where The Fly decodes news and activity in the quantum computing space.CFO TRANSITION:D-Wave Quantumannounced that John Markovich is retiring and thus resigning from his position as CFO, effective September 2. Greg Golkov, the company's senior vice president of finance, will become the company's acting CFO and principal financial and principal accounting officer.BOARD ADDITIONS:IonQannounced the appointment of two new board members: technology finance expert Eric Ball, and former SkyWater Technology chairman and SamsungNorth America CEO Timothy Baxter.EXTREME ULTRAVIOLET LITHOGRAPHY:Xanadu Quantumhas announced the next phase of its collaboration with Mitsubishi Chemical to advance semiconductor fabrication technologies using quantum computing algorithms. This next phase is supported by national innovation programs from both the Canadian and Japanese governments, aiming to scale Xanadu and Mitsubishi's previous work in simulating a process in next-generation semiconductor fabrication: extreme ultraviolet lithography. In phase one of Xanadu and Mitsubishi's collaboration, the two companies demonstrated that quantum algorithms can accurately model key aspects of EUV lithography, specifically the optical properties of the photoresists used to etch lithographic patterns. The next phase of the collaboration aims to develop a production-ready workflow that will take parameters derived from Xanadu's quantum computing simulations and integrate them directly into Mitsubishi's multi-scale models to predict blur. Xanadu plans to provide a demonstration and roadmap for how quantum computing can contribute to the development of EUV resist materials through this collaboration. This second phase of the collaboration is being advanced with support from the National Research Council of Canada Industrial Research Assistance Program and Japan's Strategic Innovation Promotion Program. The relevant SIP project is led by the National Institute of Advanced Industrial Science and Technology and the Global Research and Development Center for Business by Quantum-AI Technology. Xanadu has previously received advisory services and more than $800,000 in funding from NRC IRAP, supporting its R&D in quantum computing across several projects.QUANTUM MOONSHOT:Infleqtionsaid it has helped Japan reach a major quantum milestone, supporting a research team led by Professor Kenji Ohmori at the Institute for Molecular Science, part of the National Institutes of Natural Sciences, in launching the country's first operational neutral-atom full-stack quantum computer. Infleqtion was also the only foreign quantum partner selected by the Japan Science and Technology Agency for its Quantum Moonshot program. "This milestone marks a pivotal moment for Japan's quantum ambitions as well as Infleqtion's role in advancing production-ready quantum platforms at scale," said Pranav Gokhale, Chief Technology Officer at Infleqtion. "Bringing a full-stack quantum system into production operation is a meaningful step toward fault-tolerant quantum computing that also serves as strong validation of neutral-atom architecture. Our quantum processing unit delivers the programmability, scalability and fidelity control that next-generation systems demand." As part of the next phase of the Ohmori Moonshot project that has just started in April 2026, the IMS team will focus on improving system integration, stability, and scalability, with the goal of realizing a high-performance neutral-atom fault-tolerant quantum computer with up to 10,000 physical qubits and quantum error detection and correction capabilities. The system is also expected to be made available to external users to support the development of applications and advance quantum error correction research across academia and industry.OCT DEPLOYMENT:Skyloom Global, an IonQ company specializing in the development of space-based optical technology, announced that dozens of additional optical communication terminals, OCTs, have been successfully deployed on orbit. The OCTs were aboard York Space Systems satellites supporting the Space Development Agency's, SDA, Proliferated Warfighter Space Architecture, PWSAERROR CORRECTION PROGRAM:Quantum X Labsannounced new results from its AI-driven quantum error-correction program. The company said, "Quantum computers are highly sensitive to noise, and quantum error correction is widely viewed as a necessary foundation for scaling quantum systems from experimental demonstrations toward reliable, useful computation. QXL's work is focused on one of the central challenges in this transition: developing AI-assisted decoders that can interpret quantum syndrome data efficiently and accurately, and that can continue improving as quantum hardware advances. The latest results were generated using Google'spublic surface-code dataset from a real quantum-hardware experiment. QXL evaluated its updated decoder on a public surface-code configuration using the same cross-validation approach used for Google's published decoder comparisons. In this test, QXL's updated decoder demonstrated improved performance against matching-family benchmarks, including Google's published correlated-matching and PyMatching benchmark results for the same configuration. Importantly, QXL's model was trained exclusively on synthetic samples and was not trained on real hardware shots from the Google dataset. The result supports a key principle behind QXL's technical roadmap: quantum error-correction decoders should not only perform well in controlled simulations, but should also be able to generalize toward real experimental syndrome data. This synthetic-to-real transition is a critical step toward practical QEC workflows that can support future low-latency and eventually real-time decoding. QXL's updated decoder combines quantum-code structure, syndrome information and AI-based error weighting to improve decoder performance while preserving a practical path toward efficient implementation. The latest result supports the relevance of this approach for real-hardware syndrome data and scalable QEC workflows. The AI component is designed for GPU acceleration and integration into broader QEC workflows, supporting QXL's roadmap toward low-latency and eventually real-time decoding. This roadmap includes real-hardware data evaluation, workflows with Nvidiaaccelerated computing and Nvidia CUDA-Q and planned IQCC syndrome experiments to advance more reliable and scalable quantum-computing systems."REGISTERED DIRECT OFFERING:Qtrex Quantumannounced that it has entered into a definitive securities purchase agreement with an existing institutional investor as well as a new global institutional investor for the purchase and sale of 11,111,111 ordinary shares in a registered direct offering. The gross proceeds to the company from the offering are expected to be approximately $10M, before deducting placement agent fees and other estimated offering expenses. The closing of the offering is expected to occur on or about August 21. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.ANALYST COMMENTARY:Ascendiant raised the firm's price target on Quantum Computingto $32 from $30 and keeps a Buy rating on the shares. The company reported strong growth in Q2 and issued a strong 2026 outlook, the analyst tells investors in a research note. The firm sees Quantum's revenue growth in 2026 and 2027 being a positive for the stock.Citi increased its price target on Infleqtion to $22 from $20 and keeps a Buy rating on the shares.BMO Capital initiated coverage of D-Wave Quantum with an Outperform rating and $35 price target. The firm told investors that the company is a revolutionary quantum computing company and one of the few in the world that currently has true commercial revenues. BMO Capital believes D-Wave is best positioned in the quantum space to have commercial success given industry first-mover advantage and dual-pronged technology approach.

Quantum X Labs Announces New Results in Quantum Error Correction

Quantum X Labs (QXL) announced new results from its AI-driven quantum error-correction program. The company said, "Quantum computers are highly sensitive to noise, and quantum error correction is widely viewed as a necessary foundation for scaling quantum systems from experimental demonstrations toward reliable, useful computation. QXL's work is focused on one of the central challenges in this transition: developing AI-assisted decoders that can interpret quantum syndrome data efficiently and accurately, and that can continue improving as quantum hardware advances. The latest results were generated using Google's (GOOGL) public surface-code dataset from a real quantum-hardware experiment. QXL evaluated its updated decoder on a public surface-code configuration using the same cross-validation approach used for Google's published decoder comparisons. In this test, QXL's updated decoder demonstrated improved performance against matching-family benchmarks, including Google's published correlated-matching and PyMatching benchmark results for the same configuration. Importantly, QXL's model was trained exclusively on synthetic samples and was not trained on real hardware shots from the Google dataset. The result supports a key principle behind QXL's technical roadmap: quantum error-correction decoders should not only perform well in controlled simulations, but should also be able to generalize toward real experimental syndrome data. This synthetic-to-real transition is a critical step toward practical QEC workflows that can support future low-latency and eventually real-time decoding. QXL's updated decoder combines quantum-code structure, syndrome information and AI-based error weighting to improve decoder performance while preserving a practical path toward efficient implementation. The latest result supports the relevance of this approach for real-hardware syndrome data and scalable QEC workflows. The AI component is designed for GPU acceleration and integration into broader QEC workflows, supporting QXL's roadmap toward low-latency and eventually real-time decoding. This roadmap includes real-hardware data evaluation, workflows with Nvidia (NVDA) accelerated computing and Nvidia CUDA-Q and planned IQCC syndrome experiments to advance more reliable and scalable quantum-computing systems."

IonQ Receives Regulatory Approval to Complete Acquisition of SkyWater Technology

Welcome to the latest edition of "Quantum Leap" where The Fly decodes news and activity in the quantum computing space.QUANTUM SYSTEMS:Horizon Quantum Computing, a subsidiary of Horizon Quantum, and Q.M Technologies entered a strategic collaboration to support the development of quantum systems. Through the collaboration, Horizon Quantum will leverage QM's orchestration platform for quantum control, alongside QM's engineering, to develop embedded calibration technologies for Horizon Quantum's first in-house hardware testbed system Ember-1, a modular superconducting quantum computer.REGULATORY APPROVAL:IonQreceived final regulatory approval to complete its acquisition of SkyWater Technology. Following the close of the transaction, SkyWater will continue to serve a full range of customers as a U.S.-based semiconductor foundry, operating as a wholly owned subsidiary of IonQ under the SkyWater name. The companies anticipate that having secured all required regulatory approvals and satisfied other outstanding closing conditions, they will complete all necessary arrangements to close the transaction on Friday, July 31.VICE PRESIDENT:Infleqtionappointed Joseph Buck as senior vice president of quantum computing systems. Buck joined the company July 27, and will lead development of Sqale, Infleqtion's scalable neutral-atom quantum computer. Buck joined Infleqtion from Lockheed Martin, where he served as senior fellow at the Advanced Technology Center.TANGLELAB:Rigetti Computingannounced that it will partner with HPEand Pittsburgh Supercomputing Center to build the TangleLab supercomputing testbed. The PSC-based testbed, which is being funded by a $5M National Science Foundation grant, will feature a supercomputer powered by a nine-qubit Novera quantum computing system integrated with a classical high-performance computing system. This project builds on Rigetti and HPE's collaboration to commercialize quantum-enabled high-performance computing systems. Construction of TangleLab is expected to begin at PSC's new data center on September 1 with full operations expected in 2027.RESEARCH PACT:Qtrex Quantumlaunched a research collaboration with Northeastern University in Massachusetts, focused on advanced micro-system structures for cryogenic quantum interconnects. Pursuant to the collaboration agreement, Northeastern University has agreed to provide Qtrex with a first option to negotiate a commercial license to Northeastern-owned or jointly developed intellectual property arising directly from the parties' joint research.APPLYING QUANTUM TECHNOLOGY:AT&Thas signed an agreement to expand its use of D-Wave'squantum computing technology and plans to use the technology to address optimization challenges across its network operations. AT&T's initial focus is on layering D-Wave's annealing quantum computing technology into the tools that are already powering AT&T's agentic AI solutions. New quantum capabilities could help increase the benefits of agents in AT&T's network operations. In an early application, AT&T used D-Wave's technology to reduce the processing time for a network optimization workload from approximately one hour to less than 15 seconds. Building on this initial work, AT&T plans to explore using D-Wave's quantum computing technology across a broader set of applications, such as outage detection and response, technician routing, network build planning, and traffic management. Through these applications, AT&T will explore how faster processing could translate into faster and more accurate planning, as AT&T scales its converged fiber and 5G network to meet AI-driven demand. AT&T is also evaluating D-Wave's forthcoming gate-model systems for potential applications in quantum security and quantum communications.ERROR CORRECTION PROGRAM:Quantum X Labsannounced progress on its technical roadmap for its AI-driven quantum error-correction program. The work is focused on reviewing QXL's milestone results and draws on Nvidiaaccelerated computing, the Nvidia CUDA-Q QEC software libraries and, as QXL progresses from simulation-based validation toward hardware-derived syndrome data and future real-time decoding. First, the company executed its deep quantum error correction workflow on an Nvidia GPU in an AWSenvironment and benchmarked its transformer-based QECCT decoder against the classical minimum-weight perfect matching decoder across controlled toric-code noise configurations. QECCT outperformed MWPM in selected simulated regimes. QXL also tested synthetic surface-code configurations modeled on Google'spublic surface-code geometry and experiment structure, spanning multiple code distances. Across these scenarios, the QECCT decoder showed stable logical and bit error rates under varying physical error conditions. These results are intended as an initial step in validating the approach within controlled simulation environments. Future work is expected to focus on extending these evaluations to publicly available experimental datasets and continuing to refine data pipelines and decoder workflows compatible with CUDA-Q QEC frameworks. The broader roadmap also includes QXL's planned work with IQCC to generate hardware-derived syndrome data on superconducting quantum processing hardware. QXL is also reviewing where AI-based pre-decoder workflows using Nvidia Ising, and low-latency optimization can add the greatest value across these stages of QXL's roadmap.C-SUITE APPOINTMENTS:Quantinuumannounced the recent appointments of Robin Schulman as chief legal officer and company secretary, effective July 13, and Rory O'Byrne as chief people officer, effective May 26. Schulman and O'Byrne both report to Quantinuum's president and CEO Rajeeb Hazra. Most recently, Schulman served as chief legal officer and head of corporate affairs at GitLab (GTLC). Most recently, O'Byrne served as chief people officer for Advanced Energy.ANALYST COMMENTARY:Benchmark reinstated coverage of the quantum computing sector, including reinstating coverage of IonQ with a Buy rating and $60 price target, D-Wave Quantum with a Buy rating and $30 price target and Rigetti Computing with a Buy rating and $25 price target. The firm is "bullish" on the quantum computing sector, sees the legitimacy of the technology further building on recent momentum and argues it is not a "winner-takes-all" situation. In these still early days of quantum computing, the best strategy for investors may be to take a portfolio approach to investing in the sector, the analyst contended.CIBC initiated coverage of Xanadu Quantumwith an Outperformer rating and $22 price target. Xanadu is one of the few public pure plays on utility scale photonic quantum computing, the analyst told investors in a research note. The firm said the company has a "catalyst-rich" 2026 through 2029 that can "materially de-risk" its path to commercialization. The bull case is that Xanadu's photonics platform can scale to "fault-tolerant" quantum computing, with speed, networkability, manufacturing compatibility, and PennyLane as differentiators, commented CIBC.