Goldman Sachs has teamed up with US startup QC Ware to explore how the nascent quantum computing technology could be used to speed up financial calculations and artificial-intelligence-based decision making.
QC Ware uses the cloud to connect businesses with early-stage quantum-computing hardware providers including D-Wave Systems Inc., Rigetti Computing and International Business Machines Corp.
QC Ware will help Goldman Sachs determine whether quantum computing could be used to speed up a computational algorithm known as Monte Carlo. The algorithm is used to calculate the theoretical value of an option, or a contract that gives individuals the right to buy or sell an underlying asset at a specific price and time.
QC Ware has received $7.5 million in venture-capital funding since it was founded in 2014. Goldman was the lead investor in the company’s Series A funding round last year, along with Citigroup. (WSJ)
