Intel's $2.3 Billion Quantum Acquisition Signals Maturing Deep Tech Sector
Translated & summarized from Calcalist by baba
Intel's $2.3 billion acquisition of quantum computing firm Classiq demonstrates reduced barriers in the deep tech sector, according to Avi Eyal of Entrée Capital. The Tech1 conference in Tel Aviv also featured discussions on AI's impact on investment, with panelists noting increased interest in deep tech areas like chips and biotech. Noa Argamani, a survivor of the October 7th attacks, moderated a panel on innovation. Experts highlighted Israel's potential to lead in AI infrastructure solutions.
The story in 5 lines · by baba
- Intel's $2.3 billion acquisition of Classiq is the largest quantum computing deal ever.
- The deal signifies reduced barriers and increased capital availability in the deep tech sector.
- AI is driving significant investment shifts towards chips, biotech, energy, and robotics.
- Noa Argamani, a survivor of the October 7th attacks, spoke at the Tech1 conference.
- Israel is well-positioned to lead in AI infrastructure solutions, according to experts.
The recent $2.3 billion acquisition of Classiq by Intel, the largest quantum computing deal in history, signifies a significant reduction in barriers within the deep technology sector, making it easier to develop solutions and access capital. Avi Eyal, Managing Partner at Entrée Capital, one of Classiq's early investors, stated this at the Tech1 conference in Tel Aviv. Classiq develops an operating system for quantum computers.
Eyal, whose firm was involved with Classiq from its inception six years ago, explained that while the quantum field's applications are still unclear, separating software from hardware allows for building robust businesses. He noted that deep tech, while growing due to applications in areas like chips and energy, requires longer timelines and greater investor involvement.
The conference also featured Noa Argamani, Platforms Manager at Waze Ventures, who was abducted on October 7th and later rescued. Argamani, who moderated a panel, expressed pride in discussing innovation and investments, contrasting it with her past association with the October 7th events. She highlighted the challenge of distinguishing genuine innovation from hype in the age of AI.
Carlo Biggio, Partner at Accel, observed a shift in investment focus. Previously hesitant to invest in fields with physical aspects like biotech and chips, Accel now sees these areas, along with energy and robotics, as highly sought-after due to AI's influence. He noted that AI has made chip investments rapidly growing and has accelerated drug discovery in biotech, while energy is fundamental to AI, and robotics has become more viable.
Shi Greenfield, Founder and Managing Partner at Greenfield Partners, echoed these sentiments, stating that the past three years have seen a significant shift from software-only investments to areas impacted by AI and robotics. He emphasized that Israel's historical strength in infrastructure, from processors to mobile networks, positions it well for the current wave of AI infrastructure, including both hardware and software solutions, creating substantial investment opportunities in Israeli companies.
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