Quantum Computing Inc. (QUBT)

Quantum Computing Inc. (QCi) is a Delaware company based in Hoboken, New Jersey. It uses integrated photonics and non-linear quantum optics to develop and deliver machines for quantum computing, machine learning, remote sensing, imaging and cybersecurity. Its proprietary Core Photonics Technology conditions, manipulates and measures single and entangled photons. QCi's stated strategy is to build a vertically integrated photonics and quantum optics platform for scalable commercial applications in AI, high-performance computing, cybersecurity and remote sensing. Its products are designed to run at room temperature and at low power, unlike cryogenic superconducting, ion-trap or annealing systems. The company expanded through the June 2022 acquisition of QPhoton, Inc. and the February 2026 acquisition of Luminar Semiconductor, Inc. (LSI).

QCi's products and products in development include: - The Entropy Quantum Computer (EQC), sold under the "Dirac" platform. It solves complex optimization problems using a photonic loop with controlled feedback through energy loss. Dirac-3 launched in the first quarter of 2024, and Dirac-4 is in development. It is offered as a cloud service and as a rack-mountable on-premises system. - Reservoir computing edge devices for AI. Emucore launched in June 2023 and Neurawave in November 2025. - A LiDAR system that uses spatial-temporal modes to improve signal-to-noise ratio in difficult conditions. - A Quantum Photonic Vibrometer, launched in July 2023, for remote vibration sensing. - A prototype quantum authentication system for network cybersecurity.

The company is also moving its designs from discrete components to thin film lithium niobate (TFLN) photonic integrated circuits. It substantially completed a TFLN chip research, prototyping and small-batch manufacturing facility (the AZ Chips Facility) in Tempe, Arizona in March 2025, and is planning a higher-volume facility, "FAB 2." It plans to offer foundry services and custom TFLN chips for existing optical device markets. LSI designs laser diodes, semiconductor optical amplifiers, avalanche photodiodes, passive waveguides and photonic integrated circuits. It sells them as components, modules, subsystems and systems, supported by an in-house III-V photonic semiconductor fabrication facility and module manufacturing.

QCi targets quantum computing and optimization, AI including edge hardware, remote sensing and imaging, and cybersecurity. It sees potential applications in medicine, logistics, defense, finance, engineering, autonomous vehicles and energy management. LSI serves customers in aerospace and defense, sensing and instrumentation, and optical communications. Citing third-party research, the company points to the high-performance computing, enterprise quantum computing, TFLN and photonic integrated circuit markets as areas of expected growth, while noting that commercialization remains uncertain. Several of its technologies are at an early stage of commercialization, and some are available to customers through research and development offerings.

The company competes in a rapidly evolving quantum computing industry. Competitors include IBM, Google, Intel, Microsoft, Quantinuum and Amazon, newer entrants such as D-Wave Quantum, Rigetti Computing, IonQ, PsiQuantum, Xanadu and Infleqtion, smaller private developers, nation-funded research organizations, and classical high-performance computing. Many competitors have greater resources. QCi's intellectual property consists of patents, trademarks and trade secrets. It holds three granted U.S. patents and three registered trademarks (QPhoton, QGraph and Qatalyst). It acquired 23 issued patents, 16 pending U.S. patents and 9 foreign patent publications with LSI. It also holds an exclusive license to seven patents from the Stevens Institute of Technology, which carries annual payments and a 3.5% royalty on net sales of licensed products.