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IBM Announces Integration of Quantum Modules, Aiming for First Fault-Tolerant Quantum Computer by 2029
Welcome to the latest edition of "Quantum Leap" where The Fly decodes news and activity in the quantum computing space.LEAP FORWARD:IBMannounced it has joined and cooled down two cryogenic modules into a single environment. The new architecture is designed to scale into the modular, shared, and ultra-cold system required to link hundreds of quantum chips into a more powerful quantum computer capable of solving large problems. The company said its deployment is a milestone on IBM's path to delivering IBM Quantum Starling in 2029, which is expected to be the world's first fault-tolerant quantum computer and will integrate advances across error correction, processor design, decoding, and systems engineering. Combined, the first two operational modules stand more than eight feet tall and eight feet wide, and initial tests demonstrated they can jointly cool down to four Kelvin in under five days, reaching a final temperature of below 15 millikelvin shortly after. Each module's vacuum enclosure offers up to 12 times more wiring space than the most widely used IBM quantum systems, enabling more chip-to-chip connections both within and between modules. IBM's new box-shaped design allows modules to connect in a tight row and use this larger space to directly link quantum processors with IBM's "L-coupler" technology. L-couplers connect separate quantum chips together to share information, communicate, and operate as part of a larger quantum computer. By 2027, IBM's quantum roadmap plans to use L-couplers to link multiple processors into a larger quantum computer with at least 1,000 programmable qubits, which are qubits that can be directly used to perform computations. Towards this goal, IBM will install IBM Quantum Nighthawk processors into the cryogenic modules later this year to expand operational performance testing. At the time Starling is delivered, IBM plans for each cryogenic module to house thousands of qubits. "Bringing fault-tolerant quantum computers to industries depends on several fundamental advances," said Jay Gambetta, Director of IBM Research and IBM Fellow. "The successful connection and operation of these cryogenic modules signals a leap forward in that direction and will accelerate our progress alongside continued innovation in quantum hardware, software, and algorithms."CLOUD QUANTUM COMPUTING:IonQannounced a collaboration with CMC Microsystems. This collaboration integrates IonQ's commercial trapped-ion quantum computing systems into Canada's FABrIC Quantum Computing Sandbox. The framework for this initiative is covered under a newly signed memorandum of understanding, which designates IonQ as a listed cloud quantum computing access provider for the QCS. The QCS is operated through FABrIC, an initiative backed by funding from the Government of Canada's Strategic Response Fund and managed by CMC Microsystems.QUANTUM SAFE CENTRE:IBM and the Singapore Institute of Technology, or SIT, are planning to establish the Quantum-Safe Centre, targeted for launch by the end of 2026, as a dedicated hub to accelerate Singapore's transition to quantum-safe cybersecurity. The Centre will help organizations assess risks, adopt new security approaches and develop the talent needed for the post-quantum era. The Quantum-Safe Centre, located in the SIT Punggol Campus within the Punggol Digital District, is designed to help organizations prepare for and transition to quantum-safe cryptograph. Siew San Tan, general manager and technology leader, IBM Singapore, said: "Singapore's critical infrastructure, enterprises, and government agencies are at a pivotal moment in their cybersecurity journey, and the time to prepare for the post-quantum risk is now. Through our collaboration with SIT and the establishment of the Quantum-Safe Centre, IBM is committed to supporting Singapore's organizations with the technology, expertise and capabilities they need to understand their cryptographic vulnerabilities and take decisive steps toward quantum-safe resilience. This initiative would help to ensure that Singapore's digital economy remains secure and trusted in the years ahead."INTEGRATION:Sealsqand PalmPay, a brand developed by Palm Technologies in India, announced a strategic partnership to collaborate on the integration of Sealsq's QS7001 hardware-security technology into Palm Technologies' existing and future PalmPay biometric-authentication products. Sealsq will provide its QS7001 technology and technical support for secure-element integration, while Palm Technologies will lead product architecture, biometric-system design, application development, firmware, system integration, local compliance and product deployment.PRODUCTION QUANTUM ADOPTION:D-Wave Quantumand NTT DOCOMO announced that DOCOMO has deployed a second D-Wave-powered quantum computing application in production. The new application reduced location registration signals generated when devices cross tracking area list boundaries by 65.3% at the daily peak while also reducing paging signals by 7.0%, lowering network signaling load and improving operational efficiency. "DOCOMO is showing telecom operators around the world what production quantum adoption looks like: move beyond a single use case and apply the technology to distinct, increasingly complex operational challenges," said Alan Baratz, CEO of D-Wave. "Telecom networks are highly complex, resource-constrained environments, and these results demonstrate how D-Wave's annealing quantum computing technology can help operators improve network performance and efficiency today."COLLABORATION:Quanta Computerand Quantinuumannounced a collaborative development agreement. Under the terms of the agreement, the companies plan to jointly develop critical hardware infrastructure supporting future generations of Quantinuum's quantum systems, combining Quantinuum's quantum technology with Quanta's expertise in scaling computing platforms. Quanta and Quantinuum aim to create a practical pathway from today's quantum systems to commercially deployable quantum computers capable of supporting broad enterprise and scientific adoption.QUANTUM DEVELOPMENT PROGRAM:Qtrex Quantumannounced that it is in discussions with a U.S. Department of Defense's research laboratory to establish a joint quantum development program. The parties are targeting the fourth quarter of 2026 to formalize the program. The laboratory already operates the company's AME system and is distinct from the U.S. government laboratory referenced in Qtrex's July 6, announcement, extending the company's disclosed footprint to a second U.S. government research institution. The program under discussion targets the layer where scaled quantum systems physically break: the interconnect.MOU:BTQ Technologieshas signed a memorandum of understanding, or MOU, with Itcenglobal, one of Korea's largest IT services groups, through its listed security platform subsidiary Itcen PNS. The signed MOU establishes a framework for collaboration between BTQ and Itcen PNS to integrate post-quantum cryptography, quantum-safe authentication, and next-generation security infrastructure for Korean and international markets.ANALYST COMMENTARY:Craig-Hallum initiated coverage of Horizon Quantumwith a Buy rating and $21 price target. The firm sees the company's Triple Alpha addressing more of the developer- and run-time stack than anywhere else in the world, and if it's successful in creating efficiencies at both points, Horizon Quantum will have a strategically important asset positioned at the crux of the new quantum world. This position in the hybrid quantum-classical dev-/run-time and applications mirrors the position that Microsoftbuilt in the classical client computing world nearly a half century ago, and this outcome could create very high returns, Craig-Hallum noted. As such, the firm believes Horizon Quantum deserves a place in any growth investor's portfolio.
IBM Successfully Connects Two Cryogenic Modules, Advancing Quantum Computer Development
IBM announced it has successfully joined and cooled down two cryogenic modules into a single environment. The new architecture is designed to scale into the modular, shared, and ultra-cold system required to link hundreds of quantum chips into a more powerful quantum computer capable of solving large problems. The company said its deployment is a milestone on IBM's path to delivering IBM Quantum Starling in 2029, which is expected to be the world's first fault-tolerant quantum computer and will integrate advances across error correction, processor design, decoding, and systems engineering. Combined, the first two operational modules stand more than eight feet tall and eight feet wide, and initial tests demonstrated they can jointly cool down to four Kelvin in under five days, reaching a final temperature of below 15 millikelvin shortly after. Each module's vacuum enclosure offers up to 12 times more wiring space than the most widely used IBM quantum systems, enabling more chip-to-chip connections both within and between modules. IBM's new box-shaped design allows modules to connect in a tight row and use this larger space to directly link quantum processors with IBM's "L-coupler" technology. L-couplers connect separate quantum chips together to share information, communicate, and operate as part of a larger quantum computer. By 2027, IBM's quantum roadmap plans to use L-couplers to link multiple processors into a larger quantum computer with at least 1,000 programmable qubits, which are qubits that can be directly used to perform computations. Towards this goal, IBM will install IBM Quantum Nighthawk processors into the cryogenic modules later this year to expand operational performance testing. At the time Starling is delivered, IBM plans for each cryogenic module to house thousands of qubits. "Bringing fault-tolerant quantum computers to industries depends on several fundamental advances," said Jay Gambetta, Director of IBM Research and IBM Fellow. "The successful connection and operation of these cryogenic modules signals a leap forward in that direction and will accelerate our progress alongside continued innovation in quantum hardware, software, and algorithms."
S&P 500 Index Retreats for Second Consecutive Session
S&P 500 index retreated for the second consecutive trading session on Monday and has now erased gains made over the prior two trading sessions last week. Consumer sectors, both staples and cyclicals, were among the worst-performing areas of the benchmark. Energy once again helped to prop up the S&P 500 as its best-performing index, thanks to the geopolitical uncertainty in the Strait of Hormuz. In technology, sentiment was split down the middle: pro-AI capex stocks held up, with Micron, Sandisk, Western Digital, and Applied Materialstrading notably higher. Stocks in Software and IT Services largely offset that advance, with names like Microsoftanddown 3.0% and 2.3% respectively.On Tuesday, traders will see earnings from a premium home builder - Toll Brothers- and a home improvement giant in Home Depot (HD), further gauging the impact of stubbornly high interest rates on the housing sector.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Flexsteel Industriesup 10.0%Duos Technologiesup 7.5%Yalla Groupup 1.4%.ALSO HIGHER -Amylyx Pharmaceuticalsup 13.2% after announcing expected results for Avexitide tomorrowKura Oncologyup 8.2% after insider buyButterfly Networkup 4.1% after insider buyDOWN AFTER EARNINGS -Fabrinetdown 6.5%ALSO LOWER -Andersen Groupdown 4.6% after equity offering
Wall Street Major Indices Close Slightly Lower on Monday
Wall Street's major stock indexes closed fractionally lower Monday as investors awaited a heavy retail earnings slate, including Home Depot, Target, and Walmart, while geopolitical tensions and shifting Fed expectations also weighed on sentiment. The Dow Jones Industrial Average dipped about 0.3%, while the S&P 500 slipped 0.1%, and the Nasdaq Composite was slightly higher.Most economists expect the Fed to hold rates at 3.5%–3.75% through year-end, as weaker July employment, softer inflation and declining retail sales have reduced expectations for a September hike, though elevated inflation keeps a hike later in the year possible. The dollar fell to a 10-week low, reflecting doubts over whether the Federal Reserve will raise interest rates this year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Equinoragreed toin the Lackawanna Energy Center for $940MNvidiawillin SB Energy for its Ohio data center leased to OpenAIOmniAbentered a globalwith Eli Lilly and Companythat Commerce Secretary Howard Lutnick said the White House does not want Appleto buy memory chips from ChinaArrow Electronicsexpanded its IBMdistribution coverage to2. WALL STREET CALLS:DeutscheSentinelOneto Hold following the stock's 90% rally from April lowsJefferiesof Honeywellwith a Hold ratingWorkdayto Hold at BTIG, with the firm noting shares are "priced for a buyout"CAEto Outperform at RBC CapitalPennyMac Mortgageto Buy at Deutsche, with the firm calling the recent selloff "overdone"3. AROUND THE WEB:In a recently published report, Wolf Pack said it is short Flotek (FTK) as the company has "yet to disclose to investors that their $400 million contract with the Puerto Rico Electrix Power Authority, accounting for about 57% of FTK's backlog, has been canceled."Alibabais set to sell its entire stake in Lingxi Games to Trustar Capital for more than $2B, advancing its strategy of divesting non-core assets to focus capital and management attention on AI and cloud computing, Reuters reportsAmazonis buying huge quantities of rare books, scanning them for AI, and destroying them, 404 Media reportsNexGen Energyis sharing information and talking regularly with BHP Groupabout its Rook I mining project in Saskatchewan, CEO Leigh Curyer told ReutersTeslahas told staff it is planning for a public Cybercab launch in August, its first vehicle without a steering wheel or brake pedal, Information reports4. MOVERS:Hive Digitalincreases afterGPU cloud services pact with an enterprise customerH Worldincreases in New York afterEnovixfalls after announcing theRaj TalluriEyePointlower after announcing its Duravyu Phase 3 studyGeminideclines after Goldman Sachs, Needham, Mizuho, Rosenblatt, and Cantor Fitzgeraldon the stocks following Q2 results5. EARNINGS/GUIDANCE:Bally'swith CEO commenting, "We delivered solid second quarter results across the enterprise"InspireMD, with EPS and revenue missing consensusPioneer Power, with EPS and revenue lower year-over-yearCEL-SCI, with CEO Geert Kersten commenting, "This was a quarter of important progress across our clinical, regulatory and commercialization programs as we move Multikine closer to patients"DataMEDS AI, with EPS and revenue lower year-over-yearINDEXES:The Dow was down 272.63, or 0.51%, to 53,459.78, the Nasdaq was down 84.25, or 0.32%, to 26,644.91, and the S&P 500 was down 40.70, or 0.52%, to 7,745.06.
Wall Street Slightly Lower as Retail Earnings Awaited
Wall Street traded slightly lower Monday as investors awaited a heavy retail earnings slate, including Home Depot, Target, and Walmart, while geopolitical tensions and shifting Fed expectations also weighed on sentiment. The Dow Jones Industrial Average dipped about 0.3%, while the S&P 500 slipped 0.1%, and the Nasdaq Composite was slightly higher.Most economists expect the Fed to hold rates at 3.5%–3.75% through year-end, as weaker July employment, softer inflation and declining retail sales have reduced expectations for a September hike, though elevated inflation keeps a hike later in the year possible. The dollar fell to a 10-week low, reflecting doubts over whether the Federal Reserve will raise interest rates this year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Equinoragreed toin the Lackawanna Energy Center for $940MNvidiawillin SB Energy for its Ohio data center leased to OpenAIOmniAbentered a globalwith Eli Lilly and Companythat Commerce Secretary Howard Lutnick said the White House does not want Appleto buy memory chips from ChinaArrow Electronicsexpanded its IBMdistribution coverage to2. WALL STREET CALLS:DeutscheSentinelOneto Hold following the stock's 90% rally from April lowsJefferiesof Honeywellwith a Hold ratingWorkdayto Hold at BTIG, with the firm noting shares are "priced for a buyout"CAEto Outperform at RBC CapitalPennyMac Mortgageto Buy at Deutsche, with the firm calling the recent selloff "overdone"3. AROUND THE WEB:Alibabais set to sell its entire stake in Lingxi Games to Trustar Capital for more than $2B, advancing its strategy of divesting non-core assets to focus capital and management attention on AI and cloud computing, Reuters reportsTo overhaul its Whopper, Burger Kingchanged up some of the ingredients and also hired U.S. Head Chef Amy Alarcon, the corporate chef who previously helped revamp Popeyes, WSJ saysAmazonis buying huge quantities of rare books, scanning them for AI, and destroying them, 404 Media reportsMastercardcard payments were temporarily declined on Saturday afternoon for Australian customers due to a global issue that has been resolved, Bloomberg saysNexGen Energyis sharing information and talking regularly with BHP Groupabout its Rook I mining project in Saskatchewan, CEO Leigh Curyer told Reuters4. MOVERS:Almontygains after announcing aof up to $300MH Worldincreases afterEnovixfalls after announcing theRaj TalluriEyePointlower after announcing its Duravyu Phase 3 studyGeminideclines after Goldman Sachs, Needham, Mizuho, Rosenblatt, and Cantor Fitzgeraldfollowing Q2 results5. EARNINGS/GUIDANCE:Bally's, with CEO commenting, "We delivered solid second quarter results across the enterprise"InspireMDwith EPS and revenue missing consensusPioneer Powerwith EPS and revenue lower year-over-yearCEL-SCIwith CEO Geert Kersten commenting, "This was a quarter of important progress across our clinical, regulatory and commercialization programs as we move Multikine closer to patients"DataMEDS AI, with EPS and revenue lower year-over-yearINDEXES:Near midday, the Dow was down 0.3%, or 184.62, to 53,547.79, the Nasdaq was up 0.2%, or 43.74, to 26,772.10, and the S&P 500 was down 0.1%, or 8.53, to 7,777.23.
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