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• Quantum computing is a disruptive innovation that has attracted billions of dollars to the industry and positions it for potential long-term growth.

• Tech industry leaders like Bill Gates and Nvidia CEO Jensen Huang have made headlines by expressing optimism and skepticism about quantum computing applications.

• Quantum computing is expected to deliver a 34.8% CAGR by 2032, capitalizing on evolving technologies, the need for data centers, and industry breakthroughs.

CAGR stands for Compound Annual Growth Rate.

It measures an investment’s annual growth rate over a specified period, assuming that profits are reinvested at the end of each year. CAGR is often used to compare the past performance of investments or to project their expected future returns. 

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• From Silicon Valley to Wall Street to the highest echelons of global power, a monumental technology is attracting billions for its potential to produce quantum leaps in computer science and untold economic possibilities – quantum computing.

What is quantum computing?

Quantum computing is the technological movement poised to become a $12.6B industry by 2032, with nearly a 35% CAGR between 2023 and 2032. With powerful breakthroughs in artificial intelligence, the need for data centers, pharmaceuticals, financial services, and more, quantum computing’s reputation is growing. Simply put, quantum computing applies the principles of quantum physics—i.e., the study of how matter and energy interact on the subatomic level—to computing; quantum computers have the power to process information and solve problems exceedingly faster than what’s currently on the market—and generate billions of dollars in the process.

Traditional computers process information using bits, which can only be in one physical—binary digit—state, represented by a 0 or 1. Quantum bits, or qubits, can exist in multiple states (or combinations of 1s and 0s) simultaneously, similar to an on/off switch, and each state is represented by either a zero or a 1. When strung together, a group of 8 bits makes up a byte, which can store different characters across its 256 possible combinations. The difference between bits and qubits is like flipping a coin. The traditional bit is like a coin that lands on either heads “0” or tails “1.” Meanwhile, a qubit is like spinning a coin; it exists in a state of both heads and tails simultaneously until you stop and check it, at which point it settles into either “0” or “1.”

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