Unveiling the first fully integrated and complete Quantum Monte Carlo Integration Engine
Ͽ Scientists have created a full Quantum Monte Carlo Integration (QMCI) engine with some evidence of quantum advantage
Cambridge, UK, September 12th, 2023 Ͽ, the world leading integrated quantum computing company has published full details of their complete Quantum Monte Carlo Integration (QMCI) engine. QMCI applies to problems that have no analytic solution, such as pricing financial derivatives or simulating the results of high-energy particle physics experiments and promises computational advances across business, energy, supply chain logistics and other sectors.
The QMCI tool, utilizing advanced quantum algorithms, will allow quantum computers to perform estimations more efficiently and accurately than equivalent classical tools, inferring an early-stage quantum advantage in areas such as derivative pricing, portfolio risk calculations and regulatory reporting. A white paper supporting the new tool reveals that QMCI benefits from a computational complexity advantage over classical MCI, and suggests the engine has the potential to provide quantum usefulness in its current form.
The white paper, , has been made available on arXiv, detailing, among other items, the enhanced P-builder, a tool for constructing quantum circuits representing commonplace computational methods used in finance. The white paper also proposes how users of the new tool could obtain quantum advantage without compromising statistical robustness in the ensuing estimates.
Ilyas Khan, Chief Product Officer of Ͽ said Ͽ end-to-end QMCI engine the first ever complete quantum solution, offers the prospect of an immediate boost to the productivity of users in at least two sectors: banking and financial institutions, and scientists who expect quantum computers to help them process the vast amounts of data generated in experimental fields such as high energy physics. Our QMCI engine is the culmination of years of work by our algorithms team, and highlights just how quantum computers will offer practical utility. Our modular approach also future-proofs the engine as quantum computing hardware advances."
The engine has four modules - loading probability distributions and random processes as quantum circuits; programing a wide variety of financial calculations; programming different statistical quantities (e.g. mean, variance and others); and the estimation of quantum amplitude, which is the core source of computational advantage in QMCI. The engine features a resource mode, which precisely quantifies the exact quantum and classical resources needed for user-specified calculations a feature which is essential for predicting when particular applications will enjoy quantum advantage. Thus, the paper reveals a direct line of sight to quantum advantage and concludes users will achieve useful benefits sooner still.
Dr. Steven Herbert said: he QMCI engine taps into rapidly growing demand for tools that help global organizations in finance and other sectors explore and evaluate their route towards quantum advantage. Classical Monte Carlo integration is the preferred method in a range of computational areas where analytic solutions are unavailable and it is widely recognized that these methods will benefit from a quantum advantage. By taking a modular approach, we will equip those scientific and financial professionals with a platform that supports them flexibly through rapid technological advances in the years to come.
The new white paper sets out the areas that stand to benefit from the development of QMCI, beyond finance, including achieving efficiencies in supply chain and logistics, energy production and transmission, and data-intensive fields of science such as solving the high-dimensional integrals in high-energy physics. It concludes that use cases such as estimation and forecasting can benefit from the new QMCI engine in its current form.
Banks and financial institutions are expected to increase investment in quantum computing capabilities from , growing at a 10-year CAGR of 72%.
About Ͽ
Ͽ is the world largest integrated standalone quantum computing company, formed by the combination of Honeywell Quantum Solutions world-leading hardware and Cambridge Quantum class-leading middleware and applications. Science-led and enterprise-driven, Ͽ accelerates quantum computing and the development of applications across chemistry, cybersecurity, finance and optimization. Its focus is to create scalable and commercial quantum solutions to solve the world most pressing problems in fields such as energy, logistics, climate change, and health. The company employs over 480 individuals, including 350+ scientists and engineers, at eight sites across the United States, Europe, and Japan. For more information, please visit .
The Honeywell trademark is used under license from Honeywell International Inc. Honeywell makes no representations or warranties with respect to this service.
About Ͽ
Ͽ, the world largest integrated quantum company, pioneers powerful quantum computers and advanced software solutions. Ͽ technology drives breakthroughs in materials discovery, cybersecurity, and next-gen quantum AI. With over 500 employees, including 370+ scientists and engineers, Ͽ leads the quantum computing revolution across continents.
Broomfield, CO, June 3rd, 2026 Ͽ Inc. (ϿƝ) today announced the pricing of the upsized initial public offering of 28,000,000 shares of its Class A common stock at a price to the public of $60.00 per share. Ͽ has granted the underwriters a 30-day option to purchase up to an additional 4,200,000 shares of its Class A common stock to cover over-allotments at the initial public offering price, less underwriting discounts and commissions.
The shares of Class A common stock are expected to begin trading on the Nasdaq Global Market on June 4, 2026 under the ticker symbol QNT. The offering is expected to close on June 5, 2026, subject to customary closing conditions.
J.P. Morgan and Morgan Stanley (in alphabetical order) are acting as joint lead active book-running managers for the offering; Jefferies and Evercore ISI are also acting as active book-running managers; BofA Securities, UBS Investment Bank, Cantor, Mizuho, Needham & Company, Societe Generale and TD Cowen are acting as joint-book running managers; and Craig-Hallum and Rosenblatt are acting as co-managers for the offering.
A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on June 3, 2026. The offering is being made available only by means of a prospectus. Copies of the prospectus, when available, may be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department or by email at prospectus@morganstanley.com; Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, by telephone at (877) 821-7388 or by email at Prospectus_Department@Jefferies.com; or Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, New York 10055, by telephone at 888-474-0200 or by email at ecm.prospectus@evercore.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Ͽ
Ͽ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry highest accuracy levels based on average two-qubit gate fidelity as of December 31, 2025. Ͽ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets. Ͽ headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar and Singapore.
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June 2nd, 2026, Tokyo, Japan Ͽ, a leading quantum computing company, announced today that it has signed a non-binding Memorandum of Understanding (MOU) with Mitsubishi Electric Corporation, a recognized global leader in the manufacturing, marketing, and sale of electrical and electronic equipment and systems, to establish a framework for a strategic partnership aiming at accelerating the development of quantum computing applications for advanced industrial engineering and design.
The agreement creates a foundation for the companies to jointly identify high-impact industrial use cases and explore quantum and hybrid quantum-classical approaches for next-generation engineering workflows. Expected initial areas of focus include computer-aided engineering (CAE), such as computational fluid dynamics (CFD), and broader simulation and design applications utilizing logical qubit operations on Ͽ quantum platform.
We are pleased to begin this collaboration with Mitsubishi Electric as we work toward meaningful quantum utility to industrial engineering, said Dr. Rajeeb Hazra, President and CEO of Ͽ. By combining Ͽ leading quantum computing capabilities with Mitsubishi Electric deep engineering expertise, we aim to address some of the world most complex design and simulation challenges.
Under the envisaged partnership, Ͽ would provide Mitsubishi Electric with access to its high-fidelity trapped-ion quantum systems and expert consultation on quantum algorithm development. Mitsubishi Electric would contribute domain expertise in electromagnetic field analysis, structural analysis, and thermal fluid simulation across a wide range of industrial applications such as factory automation, energy and public utilities, air conditioning, and building systems.
We are delighted to initiate discussions with Ͽ to advance a strategic quantum computing partnership under this MOU, said Mikio Takabayashi, Senior General Manager, Information Technology R&D Center of Mitsubishi Electric. By integrating manufacturing expertise with digital insights, we aim to evaluate the feasibility and potential applications of quantum technologies in industrial engineering, while generating new ideas and exploring use cases that have the potential to contribute to society and the environment.
The MOU reflects a shared recognition that near-term engagement with quantum computing may create long-term strategic advantages as the technology continues its advance toward commercial adoption. The companies believe that organizations that act early will be better positioned to help shape use cases, build proprietary expertise and secure intellectual property rights, and help secure access to emerging quantum infrastructure and amid growing demand.
Through the MOU, the companies will evaluate opportunities for future collaboration that have the potential to accelerate technological innovation and create sustained value for global industry.
About Ͽ
Ͽ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry highest accuracy levels based on average two-qubit gate fidelity.[1] Ͽ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets.
The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team hold PhDs or Master degrees. Ͽ headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.
For more information, please visit .
About Mitsubishi Electric Corporation
Guided by its , Mitsubishi Electric Corporation (TOKYO: 6503) places sustainability at the core of its operations and values stakeholder trustencompassing society, customers, shareholders and employees. In pursuing profitability, capital efficiency and growth, Mitsubishi Electric works closely alongside customers to develop value-added solutions that address today complex challenges while enhancing the company sustainable corporate value. Founded in 1921, Mitsubishi Electric has over a century of experience in delivering reliable, high-quality products and solutions. With over 200 group companies and approximately 150,000 employees worldwide, the company is a recognized global leader in manufacturing, marketing and selling electrical and electronic equipment and systems across a broad range of sectors, including public utility systems, energy systems, defense and space systems, factory automation systems, automotive equipment, building systems, air conditioning systems & home products, digital innovations, and semiconductor & devices. Mitsubishi Electric recorded consolidated revenue of 5,894.7 billion yen (U.S.$ 36.8 billion*) in the fiscal year that ended on March 31, 2026. For more information, please visit www.MitsubishiElectric.com
*JPY 160=USD 1, the approximate rate on the Tokyo Foreign Exchange Market on March 31, 2026
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain statements that may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words anticipate, assume, believe, continue, could, estimate, expect, intend, may, plan, potential, predict, project, future, will, seek, foreseeable, the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for Ͽ to predict all such factors. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Ͽ does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
[1] As of December 31, 2025.
- Letter of intent from the U.S. Department of Commerce proposes to provide R&D funding for Ͽ to address specific technology bottlenecks in the development of fault-tolerant trapped-ion quantum computers
- Ͽ expected to partner with leading onshore semiconductor manufacturing and photonics technology suppliers to strengthen U.S. semiconductor supply chain and manufacturing capabilities
WASHINGTON, D.C. Ͽ, a leading quantum computing company, today announced a letter of intent with the U.S. Department of Commerce CHIPS Research and Development Office. The letter of intent proposes that Ͽ would receive federal funding to enable the development of large-scale, fault-tolerant trapped-ion quantum computers that are of national strategic importance.
With today CHIPS Research and Development investments in quantum computing, the Trump administration is leading the world into a new era of American innovation, said Secretary of Commerce Howard Lutnick. hese strategic quantum technology investments will build on our domestic industry, creating thousands of high-paying American jobs while advancing American quantum capabilities.
Key to this initiative is overcoming specific technical bottlenecks and strengthening domestic supply chains and manufacturing capabilities, consistent with the U.S. government goal of growing its leadership in semiconductor technology and accelerating the commercialization of frontier industries, such as artificial intelligence and quantum computing.
Quantum computing has the potential to unlock new possibilities across science, industry, and national priorities for decades to come, said Dr. Rajeeb Hazra, President and CEO of Ͽ. his collaboration with the Department of Commerce is designed to help Ͽ path to large-scale, fault-tolerant trapped-ion systems while strengthening the U.S. innovation and manufacturing ecosystem.
The letter of intent supports Ͽ plan to partner with the CHIPS R&D Office and onshore suppliers GlobalFoundries, for critical semiconductor components, and Monarch Quantum, for integrated photonics, to further optimize key engineering pathways for components within Ͽ future commercial roadmap.
GlobalFoundries is excited to partner with Ͽ on their ion-trap quantum technology, said Tim Breen, CEO of GlobalFoundries. We believe GF differentiated semiconductor platforms in cryo-CMOS, cryo-3D interconnect, and advanced packaging, combined with Ͽ's deep ion-trap expertise, will help Ͽ accelerate their quantum system scale-up roadmap to utility-scale quantum computing.
Monarch Quantum is proud to partner with Ͽ to advance U.S. leadership in next-generation computing infrastructure, said Dr. Timothy Day, Chairman & CEO of Monarch Quantum. By delivering advanced integrated photonics through a resilient domestic supply chain, we are committed to supporting the secure, scalable manufacturing required for fault-tolerant quantum systems.
In addition to strengthening domestic semiconductor manufacturing and supply chain resilience, this initiative is expected to support development of a specialized workforce for next-generation quantum computing technologies.
About Ͽ
Ͽ is a leading quantum computing company offering a full-stack platform designed to make quantum computing deployable in real-world environments. The company has commercially deployed multiple generations of trapped-ion based quantum systems built on the well-established QCCD architecture, which it has implemented with novel designs and capabilities to achieve the industry highest accuracy levels based on average two-qubit gate fidelity.1 Ͽ has active engagements with market leaders across pharmaceuticals, material science, financial services, and government and industrial markets.
The company has a global workforce of approximately 700 employees, including top scientists and researchers. Over 70% of its technology team holds PhDs or Master degrees. Ͽ headquarters is in Broomfield, Colorado, with additional facilities across the United States, United Kingdom, Germany, Japan, Qatar, and Singapore.
For more information, please visit www.quantinuum.com.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain statements that may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words anticipate, assume, believe, continue, could, estimate, expect, intend, may, plan, potential, predict, project, future, will, seek, foreseeable, the negative version of these words, or similar terms and phrases are intended to identify forward-looking statements. Such statements are based on certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. New factors emerge from time to time, and it is not possible for Ͽ to predict all such factors. Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, Ͽ does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
1As of December 31, 2025.