PensionDanmark backs Atom Computing with M for Quantum Computing Expansion

PensionDanmark has made a bold move by investing $10 million in Atom Computing, a leading quantum computing company based in the U.S. This strategic investment positions PensionDanmark’s members to gain from the unprecedented growth projected in the quantum computing sector. Quantum computers, capable of tackling highly complex problems that traditional supercomputers cannot handle, are expected to create a market worth hundreds of billions annually.

Atom Computing made waves in the industry by developing the world’s first gate-based quantum computing platform with over 1000 qubits in 2023. In addition to PensionDanmark’s investment, the Export & Investment Fund of Denmark (EIFO) also injected 70 million DKK ($10.2 million USD) into Atom Computing. The company is now establishing its European headquarters in Copenhagen, aligning with Denmark’s rich history in quantum science, dating back to Niels Bohr’s revolutionary atomic model of 1913.

Peter Stensgaard Mørch, CEO of PensionDanmark, emphasized the potential of this investment to significantly enhance returns on pension savings while supporting Denmark’s goal of maintaining a strong presence in the global quantum technology landscape. Atom Computing’s collaboration with Microsoft to develop the most powerful fault-tolerant quantum supercomputer is poised to revolutionize various fields, including simulation, optimization, AI, and cybersecurity.

For more details, you can access the news release provided by PensionDanmark here.

September 21, 2024