Japan Invests $32 Million (US) In Shared Quantum Computing

0808 The government of Japan plans to invest 4.2 billion yen — or $31.7 million — to support the expansion of shared quantum computing via cloud platforms, according to NIKKEI stuff.

The University of Tokyo will lead the initiative with support from the Ministry of Economy, Trade and Industry. Funding will cover the cost of introducing a 127-qubit model from IBM, in addition to the existing 27-qubit model used by universities, reports NIKKEI Asia.

The quantum computing collective under the University of Tokyo has 17 participants, including Toyota Motor, Mitsubishi Chemical, and Mizuho Financial Group, with more expected to join. Members will be able to co-operate with quantum computers via cloud servers, reducing costs significantly.

The Japanese government wants to expand Japan’s cloud presence in quantum computing, an area identified as one of 11 critical areas for economic security. The industry ministry budgeted 20 billion yen for cloud-related activities last fiscal year. With this funding, Japan hopes to become a key player in the quantum computing field.

According to NIKKEI Asia, Japan, like other countries, sees the immense potential of quantum computing to accelerate pharmaceutical discovery, improve logistics, improve security, and open new pathways to sustainable economic growth, among other benefits.