With rising costs for quantum start-ups and promising research results, 2024 saw a significant increase in mergers and acquisitions in the quantum space. Larger companies looking to jump into the quantum domain are acquiring smaller quantum start-ups to gain quick entry into the market.
Substantial investments were made in quantum technologies globally. Notably, Singapore committed S$300 million to boost its quantum initiatives, while Quantonation Ventures launched a €70 million fund targeting early-stage quantum companies.
A major technical milestone in 2024 was the progress in developing quantum chips that can operate at room temperature, a breakthrough that could drastically reduce the infrastructure costs and make quantum computing more accessible.
A key highlight of the year was the development of more reliable quantum error correction methods, critical for the future scalability of quantum computing. The partnership between Microsoft and Quantinuum led to the creation of some of the most reliable logical qubits ever recorded.
The intersection of quantum computing and AI continued to grow. Quantum algorithms began tackling advanced problems in computational biology, such as RNA structure prediction, leading to potential breakthroughs in fields like drug discovery.