Goldman Sachs with QC Ware to explore Quantum Computing

Goldman Sachs has teamed up with US startup QC Ware to explore how the nascent quantum computing technology could be used to speed up financial calculations and artificial-intelligence-based decision making. 

QC Ware uses the cloud to connect businesses with early-stage quantum-computing hardware providers including D-Wave Systems Inc., Rigetti Computing and International Business Machines Corp.

QC Ware will help Goldman Sachs determine whether quantum computing could be used to speed up a computational algorithm known as Monte Carlo. The algorithm is used to calculate the theoretical value of an option, or a contract that gives individuals the right to buy or sell an underlying asset at a specific price and time.

QC Ware has received $7.5 million in venture-capital funding since it was founded in 2014. Goldman was the lead investor in the company’s Series A funding round last year, along with Citigroup. (WSJ)

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