Multiverse Computing Partners With Xanadu to Deliver Quantum Software Solutions for Finance
PRESS RELEASE — Multiverse Computing, a leader in quantum computing for the financial industry, and Xanadu, a full-stack photonic quantum computing company, announced today a joint partnership to expand Multiverse’s use of Xanadu’s open-source software, PennyLane.
The partnership will enable Multiverse’s financial services clients to develop applications with greater speed and ease. These applications will enhance financial and banking intelligence in areas ranging from risk modeling to market forecasting.
Led by Xanadu’s world-renowned team of scientists and developers, PennyLane has built a large and passionate following since its initial release three years ago.
Xanadu’s open–source software framework for quantum computing, PennyLane, will
accelerate the development of Multiverse’s new quantum–based solutions for the
finance industry
PennyLane connects the most popular quantum computing platforms with the best machine learning tools using a device-agnostic and open-source approach, allowing users to train quantum computers the same way as neural networks.
“With PennyLane at the core of Multiverse’s product suite, our financial services clients will gain access to tools and best practices in quantum programming, backed by one of the world’s largest open-source quantum communities,” said Samuel Mugel, CTO of Multiverse Computing. “We see PennyLane as a critical tool for validating our product efforts, enhancing our ability to rapidly test and deploy new quantum capabilities across our financial user community.”
“We continue to see broader adoption of PennyLane with innovative startups like Multiverse. Xanadu’s open-source software is an excellent vehicle for accelerating development and reducing the time to market for new quantum products,” said Rafal Janik, Xanadu’s Head of Product. “The collective knowledge of Multiverse’s scientists and their clients provides feedback benefiting the broader open-source community and improving PennyLane.”
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Matt Swayne
With a several-decades long background in journalism and communications, Matt Swayne has worked as a science communicator for an R1 university for more than 12 years, specializing in translating high tech and deep tech for the general audience. He has served as a writer, editor and analyst at The Quantum Insider since its inception. In addition to his service as a science communicator, Matt also develops courses to improve the media and communications skills of scientists and has taught courses.
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MENTIONED IN THE ARTICLE
Multiverse Computing
Multiverse Computing provides software for companies wanting to gain an edge with quantum computing and artificial intelligence.
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Xanadu
Xanadu is a Canadian photonic quantum computing company founded in 2016 that is building fault tolerant systems utilizing light. The company collaborates with defense and hardware partners like AMD and Lockheed Martin to accelerate computational fluid dynamics simulations and train an aerospace engineering workforce.
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