Xanadu said the defence research agency has extended the Toronto firm’s participation in its Quantum Benchmarking Initiative, which is aimed at producing a useful quantum computer by 2033. That comes with funding to keep working on its research and development for a year. (The Logic)

Talking point: Xanadu is one of three Canadian companies in the second of three stages of DARPA’s project, which supports R&D and prototyping. A third stage offers up to US$300 million to validate that a company’s plans and prototypes actually work; participants like Microsoft and IBM have reached that level—IBM got there just this month. A key selling point of Xanadu’s technology is that it’s meant to work at room temperature rather than in the ultra-cold conditions its competitors generally require. The company went public in March; its shares rocketed in the spring but have since lost three-quarters of their starting value, and they kept fading Monday.

Sponsored Content

The road to risk-smart regulation

By Deborah Aarts

Why cybersecurity needs to match pace with AI

By Jessica Aftimus Rosa

How to shift your workforce from AI experimentation to adoption

By Jessica Aftimus Rosa

Paid promotional content