On Thursday, International Business Machines Corporation (NYSE:IBM) along with Illinois Governor JB Pritzker, disclosed a partnership to create the National Quantum Algorithm Center in the Illinois Quantum and Microelectronics Park (IQMP) in Chicago.
The National Quantum Algorithm Center, anchored by IBM alongside quantum pioneers such as the University of Chicago and the University of Illinois Urbana-Champaign, will leverage IBM's next-generation quantum computer, the IBM Quantum System Two.
This advanced system, powered by IBM Quantum Heron, is set to launch at the Illinois Quantum and Microelectronics Park (IQMP) in Chicago next year.
The IBM Quantum System Two will enable utility-scale algorithms surpassing classical simulation methods.
Researchers can utilize this system via IBM's Qiskit software, designed to extend the complexity and accuracy of quantum circuits for solving scientific and research challenges.
Illinois' quantum ecosystem will leverage IBM's quantum-centric supercomputing to tackle complex industry challenges.
This next-gen computing integrates quantum and classical systems with advanced software, enabling each architecture to solve parts of algorithms best suited to its strengths, unlocking applications beyond the reach of standalone systems.
Arvind Krishna, Chairman and CEO, said, "With IBM's best performing quantum hardware and software in the heart of Illinois' innovation network, together we can truly unlock the potential of quantum computing to solve the world's hardest problems."
Governor JB Pritzker added, "The groundbreaking National Quantum Algorithm Center in Illinois represents a transformative step forward, whose impact will reverberate throughout the tech industry and beyond."
Investors can gain exposure to the stock via First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) and FT Vest Technology Dividend Target Income ETF (BATS:TDVI).
Price Action: IBM shares are up 0.19% at $232.70 premarket at the last check Thursday.
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