IBM CEO Predicts Quantum Computing Revenue Boost by 2028

IBM CEO Anticipates Arrival of Quantum Computing Revenue

In an interview with CNBC, IBM CEO Arvind Krishna indicated that the company expects quantum computing to start making a meaningful impact on revenue and profit by 2028 or 2029. This marks a significant shift as quantum computing moves from being viewed as a long-term research project to becoming a viable commercial technology.

Long-Term Economic Potential

Highlighting the technology’s promise, Krishna stated, “By the end of the 2030s, we are now pretty convinced this is a trillion dollars of value.” He emphasized that quantum computing is set to solve complex problems quickly and efficiently, surpassing the capabilities of traditional computers.

Growing Competition and Investment

Various companies including IBM, Alphabet, IonQ, and Rigetti Computing are competing to develop quantum computers that can tackle problems impossible for today’s most powerful classical computing systems. Krishna revealed that IBM has already made strides in utilizing quantum computing for applications like materials discovery, which may lead to significant advancements in technology such as batteries and drug development.

Funding and Infrastructure Developments

The surge of confidence in quantum computing commercialization is paralleled by increased investment in the sector. In May, IBM announced the establishment of a dedicated quantum chip foundry, supported by a $1 billion investment from the U.S. Department of Commerce, matched by an equal amount from IBM.

Implications for the Crypto Sector

The implications of advancements in quantum computing are also being watched closely in the cryptocurrency space. Various Bitcoin miners, including MARA Holdings, Riot Platforms, and CleanSpark, are diversifying into AI and high-performance computing. Notably, experts express concerns that a powerful quantum computer could eventually compromise the encryption that protects Bitcoin and other blockchain technologies. Nevertheless, it remains a distant threat, with ongoing development of quantum-resistant cryptography allowing ample time for blockchain networks to adapt.