Quantinuum and JPMorgan Chase Set Quantum Computing Record with 100x Industry Benchmark Improvement

Quantinuum and JPMorgan Chase have achieved a 100x improvement over the existing industry benchmark using Quantinuum’s H2-1 quantum computer. The H2-1, with 56 trapped-ion qubits, is now impossible for a classical computer to fully simulate. The companies ran a Random Circuit Sampling (RCS) algorithm, setting a new world record for the cross entropy benchmark. The H2-1 also executes RCS at 56 qubits with an estimated 30,000x reduction in power consumption compared to classical supercomputers. Quantinuum recently raised $300 million in equity, anchored by JPMorgan Chase, bringing its total capital to approximately $625 million.

Quantum Computing Advancements: Quantinuum’s H2-1 Quantum Computer

Quantinuum, a prominent quantum computing company, has recently announced the development of the industry’s first quantum computer with 56 trapped-ion qubits, named H2-1. This quantum computer has significantly improved its fidelity, making it impossible for a classical computer to fully simulate its operations.

The H2-1 quantum computer has been utilized by a joint team from Quantinuum and JPMorgan Chase to run a Random Circuit Sampling (RCS) algorithm. This resulted in a significant 100-fold improvement over previous industry results from Google in 2019, setting a new world record for the cross entropy benchmark. The combination of scale and hardware fidelity of the H2-1 makes it a challenge for even the most powerful supercomputers and other quantum computing architectures to match this result.

Quantum Computing and Energy Efficiency

In addition to its impressive computational capabilities, the H2-1 quantum computer also demonstrates remarkable energy efficiency. According to Quantinuum’s analysis, the H2-1 executes RCS at 56 qubits with an estimated 30,000-fold reduction in power consumption compared to classical supercomputers. This significant reduction in energy usage positions the H2-1 as a preferred solution for a wide array of computational challenges.

The advancements in quantum computing technology have potential applications across various industries, including finance, logistics, transportation, and chemistry. The high fidelity of the H2-1 quantum computer is particularly beneficial for advancing the field of quantum algorithms for industrial use cases, including financial applications.

Quantinuum has made several significant breakthroughs in quantum computing in 2024. In March, the company revealed a solution to the “wiring problem,” demonstrating that the quantum charge-coupled device (QCCD) architecture can scale to large qubit numbers. The company’s H-Series became the first to achieve “three 9s” – 99.9% – two-qubit gate fidelity across all qubit pairs in a production device, a critical milestone enabling fault-tolerance.

In collaboration with Microsoft, Quantinuum’s H2-1 was declared the first quantum computer capable of achieving Level 2 Resilient quantum computing. This was achieved by creating four reliable logical qubits using error correction and detection, resulting in an 800-fold reduction in error rate.

Recently, Quantinuum closed a $300 million equity fundraise anchored by JPMorgan Chase with additional participation from Mitsui & Co., Amgen, and Honeywell, which remains the company’s majority shareholder. This brings the total capital raised by Quantinuum since its inception to approximately $625 million.

With its recent advancements and significant funding, Quantinuum continues to pioneer powerful quantum computers and advanced software solutions. The company’s technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With almost 500 employees, including over 370 scientists and engineers, Quantinuum is at the forefront of the quantum computing revolution.