Quantinuum, the world’s largest quantum computing firm, is launching what it claims will be a $1bn (£753m) joint venture with Qatari group Al Rabban Capital.
Jointly headquartered in Cambridge and the US, Quantinuum aims to accelerate adoption of quantum technology in the Middle East and strengthen the company’s position as a leading figure in the sector.
Under the joint venture, the British-American quantum group will co-develop technologies tailored to the region’s needs, including in areas such as new energy, genomics and financial services and training a new generation of Qatari quantum developers.
“This Joint Venture demonstrates our shared vision to lead in transformative technologies,” said Dr. Rajeeb Hazra, president and chief executive of Quantinuum.
“Together with Al Rabban Capital, we’re accelerating the commercial adoption of quantum computing in Qatar and the region whilst serving U.S. and Qatari strategic interests.”
The deal builds on Quantinuum’s previously announced partnership with Hamad Bin Khalifa University and the Qatar Centre for Quantum Computing.
“This is a defining moment in Qatar’s ambition to become a regional hub for advanced technologies like quantum computing,” said Abdulaziz Khalid Al Rabban, Chairman, Al Rabban Capital.
“We’re partnering with Quantinuum to deliver world-class quantum solutions, driving economic growth in Qatar and the region.”
Valued at over $5bn (£3.7bn), Quantinuum has the most advanced quantum computing technology in the world. The company, which formed as a joint venture between Cambridge Quantum and Honeywell Quantum Solutions, has pioneered quantum-powered generative AI technology.
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