IBM CEO Predicts Quantum Computing to Impact Earnings by Late 2020s
IBM CEO Arvind Krishna stated that quantum computing investments will begin delivering a measurable impact on the company's revenue and earnings in 2028 or 2029. He also projected trillions of dollars in value from the technology by the end of the 2030s, citing recent research showing 'quantum advantage' over classical computers. Krishna highlighted IBM’s progress with quantum computing applications such as material science insights that could lead to better batteries and medicines. Despite skepticism around commercialization challenges like error rates and scalability, he emphasized tangible advancements in real-world use cases. In May 2024, the company announced a $1 billion investment backed by U.S. government funding for a standalone quantum chip foundry. Krishna also addressed recent investor concerns after IBM's stock dropped sharply following an earnings update that raised questions about delayed customer projects and AI-related risks to its software business. He clarified most deals were deferred rather than canceled, with 40% already closing within weeks.
Topics: CEO statement IBM quantum computing research breakthrough