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Anchored by next-generation IBM Quantum System Two in Illinois Quantum and Microelectronics Park, new initiative will advance useful quantum applications as industries move towards quantum-centric supercomputing YORKTOWN HEIGHTS, N.Y. and CHICAGO , Dec. 12, 2024 /PRNewswire/ -- Today, IBM (NYSE: IBM ) and Illinois Governor JB Pritzker announced a collaboration to establish the new National Quantum Algorithm Center in the Illinois Quantum and Microelectronics Park (IQMP) in Chicago . Anchored by IBM and other quantum computing pioneers including the University of Chicago and the University of Illinois Urbana-Champaign , the center will be fueled by IBM's next-generation quantum computer, IBM Quantum System Two, which the company plans to deploy in Chicago in the coming year. IBM Quantum System Two within the IQMP will be powered by IBM Quantum Heron, which can execute utility-scale algorithms beyond the capabilities of brute-force, classical simulation methods. Users will be able to leverage this system with Qiskit, IBM's performant quantum software, which is designed to be able to extend the length and complexity of quantum circuits to extract accurate results for problems of scientific and research value. These capabilities will enable Illinois' growing ecosystem of quantum innovators across academia, national labs, and industries to discover how quantum-centric supercomputing could be used for complex industry challenges. As the next evolution of high-performance computing, IBM's vision of quantum-centric supercomputing will integrate quantum and classical computers with performant software to break apart problems, allowing each architecture to solve parts of a complex algorithm for which it is best suited. Ultimately, this is engineered for users to run applications that are inaccessible or difficult for each computing paradigm on its own. "We are proud of the progress we have made to bring useful quantum technology to the world, and this new partnership with the State of Illinois and its thriving innovation ecosystem brings us one step closer to defining the future of computing," said Arvind Krishna , Chairman and CEO, IBM . "With IBM's best performing quantum hardware and software in the heart of Illinois' innovation network, together we can truly unlock the potential of quantum computing to solve the world's hardest problems." "We're making Illinois the global quantum capital and the center for job growth in the quantum industry – a true center of innovation with the power to solve the world's most pressing and complex challenges and create jobs and investment for our state," said Governor JB Pritzker. "The groundbreaking National Quantum Algorithm Center in Illinois represents a transformative step forward, whose impact will reverberate throughout the tech industry and beyond. I'm grateful to the leadership at IBM and our university and other industry partners for their ongoing efforts to accelerate quantum computing across our state." Within the National Quantum Algorithm Center, quantum information experts, experimentalists, and domain experts across industries will share a unified objective to uncover yet unknown algorithms that leverage quantum-centric computing, including those which combine quantum and classical supercomputing resources across workflows. These teams will explore rigorous experimentation to determine how to execute workloads for complex, industry challenges and within future hybrid supercomputing architectures. To help drive new algorithm discovery, IBM will leverage its leadership as a pioneer in bringing useful quantum computing to the world with its existing relationships with Illinois academic and industry leaders, including long-standing collaborations with the University of Chicago , the University of Illinois Urbana-Champaign , and members of the Chicago Quantum Exchange and the U.S. Economic Development Administration-designated Bloch Quantum Technology Hub. "IBM's decision to engage more deeply with our vibrant Illinois quantum ecosystem marks a new phase in the development of quantum information technologies," said Paul Alivisatos , President of the University of Chicago . "UChicago faculty and students will be able to deepen and expand their work in this area in collaboration with IBM scientists, colleagues from other universities, and many interested companies. The development of new algorithms is the next step to demonstrating effective quantum computations across a wide range of important problems and sectors." "We're thrilled to partner with IBM to bring the National Quantum Algorithm Center to life and look forward to hosting its state-of-the-art Quantum Computer as part of the IQMP," said Harley Johnson , Director and CEO of the Illinois Quantum and Microelectronics Park, and Founder Professor in Mechanical Science and Engineering, U. of I . "The IQMP is building upon Illinois' strong existing ecosystem of top-tier talent, research centers, universities and more to further establish our state as a global hub for quantum, and all of the economic growth and technological advancement that comes with it. The National Quantum Algorithm Center will be a place where innovators can realize the potential quantum computing holds to solve some of our most complex problems, and we're grateful to have IBM as a part of our campus." "The great promise of quantum innovation is being realized through powerful partnerships with industry leaders like IBM connecting further to our universities, national labs, and state government," said Rashid Bashir , Dean of The Grainger College of Engineering at the University of Illinois Urbana-Champaign . "Our collaborative ecosystem is perfectly positioned to lead the National Quantum Algorithm Center through world-renowned faculty and students, and an entrepreneurial spirit that answers the most pressing questions of our time." "The announcement of the National Quantum Algorithm Center in collaboration with IBM and some of our brightest higher education institutions is a pivotal moment in Illinois' trajectory toward becoming a world leader in quantum research and development," said John Atkinson , Chairman of Intersect Illinois. "Thanks to the planning, foresight and execution of our Team Illinois partners — including Governor JB Pritzker and his administration, the Illinois Department of Commerce and Economic Opportunity and the state's unmatched quantum ecosystem — we are well positioned to ensure the investment and job creation generated by this industry stays right here in Illinois ." About IBM IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity and service. Visit ibm.com for more information. Media Contact Chris Nay IBM Research cnay@us.ibm.com View original content to download multimedia: https://www.prnewswire.com/news-releases/ibm-and-state-of-illinois-to-build-national-quantum-algorithm-center-in-chicago-with-universities-and-industries-302330657.html SOURCE IBM

Shares of AI-lending platform Upstart Holdings Inc (UPST) rose over 12% on Friday after Needham reportedly upgraded the stock to ‘Buy’ from ‘Hold’ while keeping a price target of $100. This implies a nearly 15% upside from the current trading levels. “Coming off the meetings, we believe that UPST has achieved a proper balance in funding, largely due to the increased appetite and partnerships with committed capital buyers,” Needham analysts wrote after meeting with the firm’s executives, according to a Barron's report. “We also expect the funding environment to steadily improve as the short-end of the yield curve continues to come down,” they said. The brokerage sees UPST as a good fit for growth investors, and anticipates that growth and margins will significantly improve in the coming quarters, according to the report. Following the upgrade, retail sentiment on Stocktwits climbed into the ‘extremely bullish’ territory (85/100) from ‘bearish’ a day ago. The move was accompanied by ‘extremely high’ message volume. Earlier this month, Redburn Atlantic analyst Simon Clinch reportedly upgraded Upstart to ‘Buy’ from ‘Neutral’ with a price target of $95, up from $37. The firm noted that Upstart has now delivered two quarters that exceeded expectations, with forward guidance an incremental positive. Redburn also noted the significant market opportunity for Upstart's business, a powerful blend of AI and a scalable technology platform, that could boost the share price to over $250 in the next five years. Notably, shares of Upstart have gained over 124% since the beginning of the year. For updates and corrections, email newsroom[at]stocktwits[dot]com.<

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Founder of the Economic Fighters League, Ernesto Yeboah Founder of the Economic Fighters League, Ernesto Yeboah says the New Patriotic Party (NPP) does not feel punished in the 2024 general elections. In an opinion piece, he stated that the outgoing government feels relieved in losing the elections because it will help them enjoy the resources they have looted from the state. He opined that the NPP government and its appointees and assigns were looking for an opportunity to get out of office so they would have the opportunity to enjoy what they stole from the state. “Yes, people were angry, and they voted. But don’t mistake that anger for punishment. The NPP doesn’t feel punished. On the contrary, they feel relieved. You’ve given them the holiday they desperately needed to sit back and enjoy their loot. This is why recovering the loot is so so so so important. But will it ever be recovered? We don’t have a democracy. This is a system rigged against you, where the political elite plays chess while you remain the pawn. I hope we all wake up one day.” Read the full opinion piece below Archive: When I first heard comments like “we punished the NPP,” I assumed they were made in a moment of excitement—that deep down, we all understood the reality. But many days later, I realise this perception has fossilized into fact for some. So, let me ask: did we really punish the NPP by voting them out? I don’t think so. If you truly believe that, then you still don’t understand what has happened to your country. At the beginning of Akufo Addo’s second term, the NPP was already bored with power. They had stolen enough and were simply looking for the right time and way to hand over to the NDC so they could go and enjoy their loot. Some of them, as I speak to you, are very unwell—so sick, in fact, that they have dialysis machines installed in their homes and need time off to care for themselves. This isn’t a punishment for them; ...it’s an escape. And if the recently reported story of the National Service payroll loot has any truth to it, what makes you think its beneficiaries could have had the time to focus on their work in the office? They definitely needed time and space to enjoy their haul. Now consider this: the National Service loot is probably among the smallest on the league table of corruption. This is where some of the decisions the NPP made during their tenure start to make sense when viewed as deliberate mischief or disengagement. It’s a game, and we—ordinary citizens—are the pawns. Now, let’s turn to the NDC. Ask yourself: did they really look like a hungry opposition throughout the eight years? I understand your excitement, so I won’t spoil your fun just yet. But when the dust settles, take a step back and analyse things more closely. Look at the resources the NDC poured into their campaign: the quality of their T-shirts, the scale of their media marketing, the high-profile exotic consultants they hired years before the election. Did you notice the money flowing in the constituencies? Some households reportedly received up to GH¢10,000, while individuals were handed over GH¢1,000 or more on voting day. If you know anyone in the police force who worked during the election, ask them how much they were paid. The truth is, both sides—the NPP and the NDC—spent heavily because they are two sides of the same coin. The duopoly controls the game. What else explains the sudden drop in the dollar from GH¢17 to GH¢14? Yes, people were angry, and they voted. But don’t mistake that anger for punishment. The NPP doesn’t feel punished. On the contrary, they feel relieved. You’ve given them the holiday they desperately needed to sit back and enjoy their loot. This is why recovering the loot is so so so so important. But will it ever be recovered? We don’t have a democracy. This is a system rigged against you, where the political elite plays chess while you remain the pawn. I hope we all wake up one day. Watch a compilation of the latest Twi news below: