The Novo Nordisk Foundation and Denmark’s state-owned Export and Investment Fund (EIFO) have announced an investment of €80 million (US$92.93 million) in a quantum computing project.

This initiative, called QuNorth, seeks to advance drug discovery and materials science using quantum technology.

The project will collaborate with Microsoft, which will supply software, and Atom Computing, tasked with constructing the quantum computer.

The system, named “Magne” after a figure from Norse mythology, is set to begin construction this autumn.

It aims to be operational by the end of 2026.

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🔗 Source: Reuters

🧠 Food for thought

1️⃣ Quantum computing investments are accelerating with clear development roadmaps

The €80 million investment from Novo Nordisk Foundation and Denmark reflects a broader trend of increasing quantum investments, which grew from $104 million in 2016-2017 to at least $450 million in 2018-2019 1.

This funding growth indicates rising confidence in the technology’s commercial potential, with major tech companies setting ambitious development goals. For example, IBM aims for a 100,000-qubit system by 2033, while Microsoft has invested over $1 billion in the sector 2.

The QuNorth project’s planned progression from 50 logical qubits (quantum advantage) to 100+ qubits (science problems) to 1000+ qubits (complex problems) aligns with industry-wide roadmaps suggesting significant practical applications within 3-5 years 3.

McKinsey projects the quantum computing market to reach approximately $80 billion by 2035-2040, reflecting long-term confidence despite current technical challenges 4.

2️⃣ The battle for quantum supremacy continues with multiple competing approaches

Microsoft’s involvement in Denmark’s quantum project is one example of the intense competition between tech giants pursuing various technological approaches to achieve practical quantum computing.

Google demonstrated “quantum supremacy” in 2019 by solving a problem in 200 seconds that would take classical supercomputers 10,000 years, setting an early benchmark in the field 1.

The industry remains divided on the optimal qubit technology. Major players are exploring different approaches: Microsoft focuses on topological qubits for stability, IBM emphasizes modular designs with its 433-qubit Osprey processor, and Google works on error-correction systems for its Willow chip 5.

This technological diversity highlights the lack of consensus on the best path forward. McKinsey identifies five major competing qubit technologies: photonic networks, superconducting circuits, spin qubits, neutral atoms, and trapped ions, each with distinct advantages and limitations 4.

3️⃣ Practical quantum applications are emerging despite significant technical hurdles

Denmark’s focus on applications like drug discovery and materials science demonstrates how quantum computing is shifting from theoretical promise to targeted commercial applications despite ongoing challenges.

Quantum error correction remains a significant barrier to practical quantum computing, as current systems are highly sensitive to environmental disturbances and require substantial error-correction overhead 6.

Financial services organizations are already identifying specific use cases in portfolio optimization, risk assessment, and fraud detection, which could provide competitive advantages even with limited quantum capabilities 3.

The move toward cloud-delivered quantum services, such as Amazon’s Braket service, is making the technology accessible to a broader range of researchers and businesses while the hardware continues to develop 7.

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