“Intel will be among the first names people think of in quantum computing,” says Classiq CEO

“We founded Classiq to solve an almost embarrassing problem: no one knew how to communicate with a quantum computer. It was a gamble, because quantum computers barely existed at the time. In the two or three years after the company was founded, the technology evolved significantly. Today, contrary to popular perception, there are quite a few applications for quantum computers, even though a major commercial breakthrough has yet to materialize. You might be surprised to learn that organizations such as Ichilov Hospital, the Bank of Israel and Israel Natural Gas Lines (INGL) are already using our platform,” says Nir Minerbi, co-founder and CEO of Israeli quantum-software startup Classiq.

On Monday, Intel announced that it would acquire Classiq for $2.3 billion in cash and stock, following a prolonged period of internal turmoil that had effectively brought its acquisition activity to a halt. The deal is set to be the largest in the quantum-computing sector to date, further cementing Israel’s position in a field that is still emerging but attracting growing commercial interest. Israel is already among the world’s top five countries by the number of quantum companies and the volume of private investment in the sector.