IBM Just Made a Bold Quantum Computing Bet

Artificial intelligence has been ruling the tech investment sector over the past two years; however, another revolutionary computing platform has also been steadily evolving in the background. Though quantum computing is years away from mass commercial adoption, the race towards building a functional, fault-tolerant quantum computing platform has been gaining speed due to massive funding from governments and big tech companies.

In continuation of its ambitious plans to become the leader of the race, IBM (IBM) announced that it would be acquiring HRL Laboratories, which specializes in quantum computing. While the details of the deal were not revealed, this move would provide IBM with additional know-how in silicon-spin qubits, following the recent commitment of the company to spend more than $10 billion on quantum technologies in the next five years. The news was released right after IBM provided investors with its second-quarter earnings report and an update on the annual forecast.