Atom Computing raises $300M to build world’s first fault-tolerant, commercially viable quantum computer
The race to build a functional, fault-tolerant quantum computer gained even more momentum today with Atom Computing Inc. raising a hefty $300 million in funding to accelerate its roadmap toward commercial availability.
The round includes a $100 million Series C investment led by Third Point Ventures, with participation from DCVC, Cisco Investments and others. Another $100 million will come from the U.S. Department of Commerce, guaranteed through a signed Letter of Intent.
Atom Computing is one of the companies at the forefront of an approach to quantum computing known as “neutral atoms.” The company believes that it’s the most pragmatic way of building fault-tolerant quantum machines. The technique involves using nuclear-spin qubits created with neutral atoms, which possess an equal number of electrons and protons. The power of quantum computers comes from their reliance on qubits. Whereas traditional computers use “bits” that have a value of a zero or a one, qubits can be a zero, one or both at the same time, opening the door for multiple calculations to be performed simultaneously.
