Intel Acquires Israeli Quantum Startup Classiq for $2.3 Billion
Translated & summarized from Ynet by baba
Intel is acquiring Israeli quantum computing startup Classiq for an estimated $2.3 billion to strengthen its position in the quantum computing market. Classiq's technology allows clients to write and test code for various quantum hardware, aiding businesses in evaluating quantum computing's benefits. The deal integrates Classiq's software expertise with Intel's hardware development, aiming to create a full-stack quantum computing offering.
The story in 6 lines · by baba
- Intel is acquiring Israeli quantum computing startup Classiq for an estimated $2.3 billion.
- The acquisition aims to bolster Intel's position in the rapidly developing quantum computing sector.
- Classiq's technology enables clients to write and test code for diverse quantum hardware platforms.
- Major clients of Classiq include automotive giant BMW and telecommunications firm AT&T.
- Intel CEO Lip-Bu Tan highlighted the integration of Classiq's software with Intel's hardware.
- Classiq CEO Nir Minervini emphasized the move from quantum science to engineering.
Intel is set to acquire Israeli quantum computing startup Classiq, aiming to bolster its position in the burgeoning field. While Intel has not officially disclosed the acquisition price, industry estimates place the deal at approximately $2.3 billion, to be paid in a combination of stock and cash. This move comes just days before Intel is scheduled to release its third-quarter financial results.
Classiq has developed a technology that allows clients to write code that can be tested and run on any type of quantum hardware. This enables businesses, including major clients like BMW and AT&T, to assess the potential benefits of quantum computing for their operations. The acquisition is expected to enhance Intel's quantum hardware development and facilitate the integration of its products into quantum computers.
Intel CEO Lip-Bu Tan stated that the partnership with Classiq transforms Intel's quantum computing division into a comprehensive quantum computing business, covering both hardware and software. As a former leading chip manufacturer, Intel is keen to capitalize on the potentially vast market of quantum computing and avoid missing out on future growth.
Classiq, founded in 2020 by Nir Minervini, Amir Naveh, and Dr. Yehuda Naveh, has raised over $200 million to date and employs around 130 people. The company provides clients with specialized AI tools to evaluate the utility of quantum computing for their businesses. Post-acquisition, Classiq will continue to support customers in developing code for various quantum hardware platforms, even those from Intel's competitors.
Quantum computing, which leverages subatomic particles to accelerate data processing, is still in its early stages but has attracted significant interest from major tech companies seeking a competitive edge. Intel has been working for over a decade to translate its silicon manufacturing expertise into the quantum computing domain, focusing on spin qubit technology. Classiq CEO Nir Minervini described the transition as moving "from science to engineering," a domain where Intel excels.
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