Quantum computing nears commercial breakthrough, IBM CEO says
IBM CEO Arvind Krishna predicts that quantum computing will become a significant revenue driver by the end of the decade, potentially creating a trillion-dollar industry. The sector is seeing increased investment and competition as companies race to solve complex problems in materials science and logistics.
Why it matters
Quantum computing represents a paradigm shift in processing power that could revolutionize drug discovery, energy research, and cryptography.
Speaking on CNBC's Mad Money on Thursday, Krishna said he expects the sector to begin making a measurable contribution to IBM's revenue and profit by 2028 or 2029.
"By the end of the 2030s, we are now pretty convinced this is a trillion dollars of value," Krishna said, describing what he sees as the long-term economic potential of quantum computing.
His comments come as competition intensifies among companies developing hardware and software that exploit the principles of quantum mechanics to solve mathematical problems in seconds that would take conventional computers thousands of years.
"A quantum computer can do things better, faster, cheaper, in a way that normal classical computers cannot do at this time," Krishna said.
IBM, Alphabet, IonQ, Rigetti Computing and several startups are racing to build machines capable of solving problems that remain impractical for today's most powerful classical computers.
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