ME By Maggie Eastland and Courtney Subramanian, Bloomberg June 22, 2026 06:00 PM CDT Featured Stories Chicago’s most powerful families These 14 families wield influence across Chicago and Illinois through business, politics, philanthropy, sports and civic institutions.
The leading US firms developing quantum computers, including IBM, Microsoft and Google, each aim to deliver the first large-scale commercial device by 2029. Trump’s orders on Monday direct US government agencies to work with the private sector to develop a quantum computer usable for scientific research “by 2028,” according to White House science and technology advisor Michael Kratsios. Unlike regular computers, which process information using “bits” – tiny switches that are either off (0) or on (1) – quantum computers use “qubits,” which can be both 0 and 1 at the same time. That allows them to crunch through enormous numbers of possibilities simultaneously, making them potentially far faster and more powerful than anything available today. However, quantum computers currently make too many errors to be used reliably outside of research settings. A senior White House official later clarified that the quantum computing model developed in tandem with the US government would have lesser capabilities than those promised by the private sector. “We’re really viewing the push towards a scientifically relevant quantum computer as a stepping stone… to future larger-scale, more capable systems,” the official said during a press call. The second order signed by Trump involves cybersecurity and post-quantum cryptography, or encryption that is able to withstand decryption by a quantum computer. Kratsios said the order “accelerates the migration” of quantum-proof cryptography to 2031.
CHEYENNE WELLS — Colorado’s southeastern plains, still brown from winter and drought, are a long way from the Middle East, but when the Iran war bottled up exports from the Persian Gulf, a resource beneath those prairies became more valuable. It isn’t oil. It’s helium. The closure of the Strait of Hormuz cut off 30% of the world’s helium supply from Qatar. International industrial gas companies, such as France’s Air Liquide and Ireland-based Linde, declared a force majeure and began rationing helium among their customers. The major remaining supply, indeed the world’s largest source is the U.S. The country produces about 44% of the world’s helium, with the best reserves stretching roughly from the Texas Panhandle through Colorado and Wyoming into Canada. And so, on a June morning at the Ladder Creek Helium Plant, just outside Cheyenne Wells, specially designed Air Liquide trailers filled with liquid helium were bound for China, France, Japan, Germany and Austria. “It is an international market, there is a lot of demand for helium and it’s growing,” said Darin Dickey, co-owner Tumbleweed Midstream, which runs the plant. After hydrogen, helium — a colorless, odorless, nontoxic gas — is the second most abundant and lightest element in the universe. A quarter of the sun is helium. It is a small atom, lighter than air. The gas is inert so it does not combine with other elements. It is unique among all the elements in that it can reach ultra-cold temperatures, approaching absolute zero. Here on Earth, it is widely distributed but only in a few strata is it found in concentrations above 2% making it profitable to harvest. The concentrations in southeastern Colorado reach up to 7%, Dickey said. As a result of its unique properties the demand for helium has soared. Magnetic resonance imaging machines,
WASHINGTON - Today, global tech trade association ITI welcomed President Trump’s new Executive Orders, Ushering in the Next Frontier of Quantum Innovation and Securing the Nation Against Advanced Cryptographic Attacks. Quantum technologies are critical to the next frontier of technology and impact public policy across AI, national security, economic competitiveness, cybersecurity, and more. “Quantum technology is shaping today’s opportunities and tomorrow’s risks, and the United States is well positioned to strengthen its quantum leadership on the global stage,” said ITI Executive Vice President of Policy and General Counsel John Miller. “The Quantum Innovation EO lays the groundwork for a stronger quantum ecosystem through increased federal capabilities, a refreshed National Quantum Strategy, expanded public-private partnerships, and stronger protections for critical research,” Miller continued. “With powerful quantum computers that can break the encryption that secures the internet becoming closer to reality by the day, the Post-Quantum Cryptography EO sets appropriately aggressive timelines to direct federal government agencies to prepare for quantum-enabled cybersecurity risks. Policymakers must continue working closely with industry and international partners to modernize strategies to protect systems against attacks and accelerate the next generation of quantum innovation.” ITI is a leading voice shaping the future of quantum policy. ITI's Quantum Technology Policy Guide outlines strategic principles and recommendations that address the opportunities and risks posed by quantum computing, quantum communications, and quantum sensing.
Akhetonics Photonic Computing: 1,000x Faster CPUs! Learn about Akhetonics’ prototype that turns photons into a programmable, terahertz-class processor — and the memory, packaging, and power challenges they still need to overcome. Akhetonics says their photonic CPU is the beginning of a revolutionary new type of all-optical computer: data would enter as light, be switched as light, circulate through memory as light, and leave as light. Leonardo Del Bino, the company’s co-founder and chief technology officer, reduces its hardest engineering problem to five words: “Light doesn’t like to stop.” Michael Kissner, Akhetonics’ co-founder and chief executive, says the company plans to deploy its first commercial machine with a major customer by the end of 2026. Between those statements lies the entire wager — a published two-bit optical CPU architecture, nearly 30 generations of photonic chips, a compiler intended to accept familiar code, ambitions for terahertz clocking, and unanswered questions about power, packaging, memory, manufacturing, and whether any of it can outperform electronics outside the lab. A Photonic Computer Made Of Fibers And Pods The first thing to understand about Akhetonics’ optical computer is that it’s not one thing yet. It’s a collection of devices, test structures, packaged chips, software, architectural ideas, and increasingly integrated prototypes. In footage from the company’s Munich operation, Del Bino apologizes for the disorder as he walks through a room where one of the early systems is being assembled. Inside a conventional rack enclosure sits a computing board intended to hold four photonic chips in pods, together with an orchestrator responsible for routing information. Fiber arrays bring light into the chips and carry the output away. Electrical connections power selected devices. Instruments measure whether the components behave as designed. The scene can look familiar until the purpose of all those fibers becomes clear. Photonics is already embedded
TAMPA, Fla. — The White House has issued an executive order aiming to unify and accelerate U.S. development of quantum technologies, including space systems that could enable next-generation navigation, sensing and secure communications. The “Ushering in the Next Frontier of Quantum Innovation” order, signed by U.S. President Donald Trump June 22, gives NASA 120 days to submit a five-year plan for “developing and extending civilian quantum sensing and networking for space applications.” Other agencies were also tasked with producing five-year plans to translate atomic-scale physics into federally backed research and applications. The order directs the Department of War to identify at least three next-generation quantum sensor projects within 60 days to prioritize for fielding by Sept. 30, 2028. It also establishes the Quantum Computer for Application Development and Discovery Science effort, or QC-ADDS, to develop a quantum computer for scientific applications. “This national effort shall pursue development of a quantum computer at a scale intended to initiate the era of quantum-enabled scientific discovery,” the order stated, “with the intent to deliver at least one such computer to a Department of Energy facility and, to the extent possible, make it available to the scientific community.” Trump also signed a separate executive order directing federal agencies to strengthen cryptographic protections for the country’s sensitive data, critical infrastructure and digital economy against threats posed by future quantum computers. Industry collaboration The executive orders came shortly after U.S.-based quantum technology firm Infleqtion announced America’s Quantum Space Initiative, an industry coalition aiming to advance demonstrations to operational capability. Founding partners include Voyager Technologies, Armada, Monarch Quantum and the University of Colorado Boulder. “Quantum is moving fast, and so is the competition,” said Matt Kinsella, Infleqtion’s CEO. “The science is proven and the systems are coming. We are grateful to President Trump for making American quantum
Executive Order 14411 By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered: Section 1. Purpose. America stands at the cusp of a quantum revolution. Quantum information science and technology (QIST) will provide transformational capabilities that will drive American innovation, power economic growth, generate high-paying jobs, and bolster national security. In 2018, I laid the foundation for United States leadership in QIST by signing into law the National Quantum Initiative Act and doubling Federal investment in QIST research and development. Today, as other nations move quickly to challenge American leadership, the United States must take a cohesive, whole-of-government approach to accelerate deployment and commercialization of quantum computing, sensing, and networking. In addition to continuing trailblazing quantum research, we must act to solidify the Nation’s position as the world’s QIST superpower and deliver the commercial and research benefits of quantum innovation to the American people. Equally important, we must protect sensitive technologies and work with allies to ensure adversaries cannot use QIST to undermine national security. Sec. 2. Policy. It is the policy of my Administration to ensure that the United States maintains a strategic technical advantage in QIST and leads the development of a robust and trusted quantum ecosystem across QIST research, manufacturing, commercialization, and application. Sec. 3. Updating the National Quantum Strategy. (a) Within 180 days of the date of this order, the Assistant to the President for Science and Technology (APST), in coordination with the Secretary of War, the Secretary of Commerce, the Secretary of Energy, the Director of National Intelligence (DNI), and the Director of the National Science Foundation (NSF), and in consultation with the Co-Chairs of the National Science and Technology Council Subcommittees on Quantum Information Science (SCQIS) and Economic and Security
President Donald Trump signed executive orders on Monday (June 22) at the White House, aiming to give the United States an edge in quantum computing. The orders are designed to fast-track the development of a scientifically relevant quantum computer by 2028. Quantum computing has emerged as a national security issue due to concerns that these super-computers could eventually crack current encryption methods used by the federal government and the U.S. military. Speaking at the White House, President Trump emphasized the importance of staying ahead in the quantum computing race. A White House official stated that the administration's goal is to build a quantum computer that can perform complex calculations far beyond the capabilities of today's computers. The executive orders are part of a broader strategy to enhance the nation's technological capabilities. The orders also address cybersecurity concerns, with a focus on post-quantum cryptography. The Cybersecurity and Infrastructure Security Agency (CISA) is directed to maintain a list of product categories that support post-quantum cryptography by December 1, 2025. Additionally, the National Security Agency (NSA) and the Office of Management and Budget (OMB) are tasked with ensuring agencies support the Transport Layer Security (TLS) protocol version 1.3 by January 2, 2030. These measures are part of the administration's effort to secure the nation's digital infrastructure against potential threats posed by quantum computing. The orders reflect a shift towards empowering individual departments and agencies to implement solutions that align with their operational needs and budgetary constraints. According to A&O Shearman, the orders aim to move away from a compliance checklist approach and focus on genuine security investments. The executive orders are expected to face scrutiny and potential legal challenges, as they represent significant changes to existing cybersecurity policies. However, the administration remains committed to advancing quantum computing technology and ensuring the United States
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Atom Computing and Nu Quantum target utility-scale quantum computing Atom Computing and Nu Quantum have announced a strategic collaboration aimed at tackling one of the biggest challenges in quantum computing: scaling systems beyond individual processors to deliver practical, utility-scale performance. The partnership, formalized through a memorandum of understanding (MoU), will explore the integration of Atom Computing’s neutral-atom quantum computers with Nu Quantum’s photonic quantum networking technology. The companies say the work will provide a foundation for distributed quantum computing architectures capable of reaching the scale required for real-world applications. Building distributed quantum systems The collaboration will focus on several key technologies needed to connect multiple quantum processing units (QPUs), including integrated photonic network switches, qubit-photon entanglement technologies and modelling of distributed fault-tolerant computing architectures. By linking quantum processors through photonic networks, the companies aim to create a scalable pathway beyond the limits of single quantum systems. The approach could scale quantum computers in a modular fashion by connecting multiple processors into larger computing platforms “Nu Quantum is a global innovator in quantum networking technology and a leader in the UK quantum ecosystem,” said Dr. Ben Bloom, CEO and Founder of Atom Computing. “We are pleased to partner with them as we accelerate our path toward scalable, utility-scale quantum computers.” Dr. Carmen Palacios-Berraquero, CEO and Founder of Nu Quantum, said: “The future of quantum computing depends on distributed architectures capable of scaling beyond single QPUs to deliver real-world utility and meaningful commercial impact. We are excited to launch this substantive technical collaboration and solve together some of the most challenging problems on the path to fault tolerance.” Combining neutral atoms and photonics The announcement brings together two companies operating in different parts of the quantum technology stack. Atom Computing has built its reputation around neutral-atom quantum computing, developing systems with more
PIB Backgrounder India’s Emerging Technology Ecosystem Technologies that will shape India’s future प्रविष्टि तिथि: 22 JUN 2026 10:41AM by PIB Delhi India has transformed from a large digital market into an emerging global technology power over the last decade. Earlier, India was largely viewed as a vast consumer base for digital services and internet-driven platforms. Today, the country is increasingly shaping global technology development through Digital Public Infrastructure (DPI), indigenous innovation, startup ecosystems, and emerging technology capabilities. Sustained government investments have strengthened national capability, expanded technological capacity, and enhanced global credibility. Mission-mode initiatives in Artificial Intelligence (AI), semiconductors, quantum technologies, supercomputing, cloud computing, and cybersecurity are shaping a strong innovation ecosystem. India’s trusted Digital Public Infrastructure, inclusive digital governance, and growing global partnerships are positioning the country as a reliable technology partner. These achievements are laying the foundation for Viksit Bharat 2047 and strengthening India’s role in the global technology landscape. Twelve years ago, India began a determined journey to make technology a key driver of Viksit Bharat. What followed was a sustained national effort to build digital infrastructure, strengthen innovation, and expand technology access for every citizen. The Government strengthened national technological capability through dedicated mission-mode programmes in emerging technologies such as semiconductors, Artificial Intelligence (AI), quantum technologies, supercomputing, blockchain, and cloud infrastructure. Long-term policy support and strategic investments enabled the development of indigenous technologies, secure digital systems, and globally competitive innovation ecosystems. This transformation was supported by major investments in national capacity building through large-scale skilling initiatives, advanced research infrastructure, startup support, and industry-academia collaboration. Additionally, Centres of Excellence, research hubs, semiconductor laboratories, and emerging technology institutions were established across the country. These initiatives created opportunities for future-ready workforce development across the emerging sectors. Enhanced capability and expanded capacity have further positioned India’s global technological credibility. The country
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ETFs Get Tropical With New Fund Filings Targeting MANGOS No, not the fruit. The acronym stands for Meta, Anthropic, Nvidia, Google (Alphabet), OpenAI and SpaceX. Sign up for exclusive news and analysis of the rapidly evolving ETF landscape. Who doesn’t love a mango? They’re sweet, tangy and now chock full of artificial intelligence goodness. Asset managers Yorkville America and Corgi Securities both filed for ETFs last week targeting MANGOS. Not the juicy fruit native to northern India, but rather the acronym representing the big tech and AI space, standing for Meta, Anthropic, Nvidia, Google (Alphabet), OpenAI and SpaceX. It’s not only the latest of Wall Street’s alphabet-soup colloquialisms, but it could also be the next big investing strategy, with Yorkville and Corgi aiming to be pioneers. It’s just like the doctor says: a MANGO fund a day keeps the FOMO away. Nature’s Candy Corgi has quickly made a name for itself this summer, bursting on to the scene with roughly 70 funds, mostly thematic and leveraged plays, in a matter of just two months. Meanwhile, Yorkville is the manager behind the Trump family’s suite of Truth Social ETFs and its “America First” investing philosophies. Now, both are looking to package the AI ecosystem into a single tradeable basket: - The Corgi product will allocate 80% of its assets toward the six MANGOS companies, according to a filing. - The Yorkville ETF may provide exposure to seven other companies in the AI space, including, SanDisk, Micron, Dell and others, per its filing. The firm also filed for another version of the fund that seeks to generate income through an actively managed option-writing strategy. MANGOS Mania: Though Anthropic and OpenAI are private (for now), the funds may invest in them directly as an ETF can hold up to 15% of its portfolio
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Arkeon Technologies, a Gothenburg-based quantum computing startup, raised €594.2k in seed funding to advance a technology that improves the performance and yield of superconducting quantum chips after fabrication. Founded in 2025, the company has developed a method that adjusts qubit frequencies post-production, helping compensate for manufacturing variations that can affect chip accuracy and stability. The approach works by applying controlled current pulse trains to modify junction resistance, enabling more precise frequency placement without requiring manufacturers to redesign existing fabrication processes. By allowing each chip to be individually optimized after production, the technology aims to improve reproducibility, increase wafer-level yields and reduce manufacturing costs as quantum processors become more complex. The funding round, backed by Chalmers Ventures, Navigare Ventures and Almi Invest, will support technology development, customer validation and international expansion. For quantum hardware developers, the solution addresses a key manufacturing bottleneck as the industry works toward larger-scale commercial quantum systems. Image Credit: Arkeon Technologies What's Driving This Trend - Post-fabrication Quantum Tuning - Adjustable qubit frequencies after chip production create new pathways for higher-yield quantum processors without costly fabrication redesigns. - Wafer-level Yield Optimization - Manufacturing variability in quantum chips is becoming a software-adjacent hardware opportunity as precision alignment improves reproducibility across wafers. - Scalable Superconducting Systems - Commercial quantum expansion depends on chip-level correction methods that support larger processor architectures with improved stability and lower production costs. Who This Affects Most - Quantum Computing - Hardware developers gain a route to more reliable superconducting processors as post-production calibration reduces barriers to scalable commercial systems. - Semiconductor Manufacturing - Advanced fabrication ecosystems can benefit from alignment technologies that preserve existing processes while improving output quality for emerging quantum components. - Deep Tech Investment - Early-stage capital is increasingly focused on specialized quantum infrastructure that addresses manufacturability, validation and global commercialization
Michael Saylor, chairman of Strategy, urged the Bitcoin community to prioritise unity over internal disputes. On June 21 local time, blockchain outlet U.Today reported Saylor as saying the community should focus on opportunity rather than criticism that divides it, as Bitcoin enters the next stage of global adoption. Saylor said Bitcoin holders are effectively aligned on most important issues, from core values and philosophy to its origins. He said, "Bitcoiners agree on the 99 percent that matters" and "we shouldn’t let the 1 percent divide us." He added, "Nearly all global capital has yet to enter Bitcoin’s monetary network," stressing that the value of the opportunity is greater than the argument. The remarks come as debate continues across the Bitcoin ecosystem over how to respond to the threat posed by quantum computers. Saylor said such discussions may be necessary but should not obscure Bitcoin’s bigger goals. Within the community, views differ over the potential impact of quantum computers on Bitcoin security and the implementation plan to address it. At the centre of the debate is Bitcoin’s so-called quantum problem. Views differ even among top cryptographers, and Google Quantum AI research that shook the Bitcoin community in March suggested that a sufficiently powerful quantum computer could derive a private key from a public key in about 9 minutes. Discussion has since focused on about 6.9 million BTC held in addresses with exposed public keys and the lack of a post-quantum transition plan for Bitcoin. Market attention has moved beyond technical concern to how existing holders’ assets could be transferred safely in practice. One option being cited is BIP-361, proposed by developer Jameson Lopp and others. The proposal would allow holders, even after a set transfer deadline, to prove ownership through a quantum-resistant proof method without exposing their keys. PACT, proposed by
Why Singapore SMEs cannot wait for quantum cyber risk to arrive before securing data By Tony OngSMEs need to treat migration as a staged process rather than a one-time upgrade. If you’re a business operating with any form of sensitive data in Singapore, chances are you’ve already been breached – with or without your knowledge. Cybersecurity is already difficult enough for SMEs in Singapore. Businesses are managing a variety of software, juggling between cloud tools, vendor and payroll systems, customer databases, and the like, often with lean IT teams and limited budgets. But now that quantum computing is a reality staring us in the face, imagine the exponential damage bad actors with malicious intent can do with these “supercomputers.” Quantum is not just a distant concern reserved for governments, banks, and global tech giants anymore. Whilst quantum computers are not breaking business systems today, most if not all current encryption methods may become vulnerable once the technology matures. This creates a problem that businesses cannot simply postpone, because sensitive data can be stolen now and decrypted later. The National Institute of Standards and Technology (NIST) has warned that organisations should start planning for post-quantum cryptography now, especially for high-value, long-lived sensitive data, because cryptographic transitions will take time. This matters for SMEs more than many realise, as current encryption standards are to be deprecated by 2030 and phased out by 2035. Not all valuable data loses relevance after a few months. Supplier pricing, customer records, contracts, HR information, technical drawings, product specifications, financing documents, and operational data can remain sensitive for years. A breach today puts these at risk for years to come. This is why quantum security should be treated as a business resilience issue, not just an IT issue. And the global cyber environment is also adding to
▲AI PRISM* Customized Economic Briefing *Editor's Note: 'AI PRISM' (Personalized Report & Insight Summarizing Media) is an "artificial intelligence (AI)-based customized news recommendation and summary service" developed with support from the Korea Press Foundation. It selects and provides six customized news items by reader type. [Key Issue Briefing] ■ Rise of the CAIO and AI Organizational Transformation: As the era of AI agents arrives, the Chief AI Officer (CAIO) is rapidly spreading as a core position at global companies. A survey by IBM Korea of 40 domestic company CEOs found that all respondents said the CAIO's role is important, and that 65% of domestic companies already have a CAIO. ■ Modular Housing Market Showdown: LG Electronics (066570) has entered the global modular housing market in earnest, forming strategic partnerships in succession with Sweden's SIBS and Australia's Greater Homes. The market is expected to grow to $140.8 billion (about 216 trillion won) by 2029. Samsung Electronics (005930) has also thrown down the gauntlet by launching the "Samsung AI Modular Home," heating up the competition for leadership between the two major home appliance makers. ■ Intensifying Race for Quantum Computing Supremacy: Peter DeSantis, Amazon's Chief AI Officer (senior vice president), said that fully commercial quantum computers will emerge within the next five to seven years. As big tech companies including Google, Microsoft and IBM competitively jump in, the battle for technological supremacy with China—which is responding with concentrated national-level investment—is beginning in earnest. [News of Interest to Corporate CEOs] 1. Global CAIOs: "Give AI Oversight Roles Instead of Cutting New Hires" - Key Summary: With the arrival of the AI agent era, the Chief AI Officer (CAIO), who spreads AI throughout the company and drives tangible results, is drawing attention. Toby Walsh, chief scientist at the AI Institute of the University of
Guest post by Zeynep Koruturk, Dr. Kris Naudts, & Donald Harmitt of Firgun Ventures and Professor Bob Coecke of Relational Intelligence Limited Few questions in the quantum sector are asked more often, or answered more loosely, than how many qubits a useful quantum computer will require. Press releases announce systems with hundreds of qubits, then thousands, and the implicit suggestion is that the field is approaching a finish line. The reality is more nuanced, and arguably more interesting. It is not as black and white as saying there is a single number of qubits that makes a quantum computer “useful”. The right number depends entirely on what you want the machine to do, on which type of machine you are using, and on how cleverly the underlying problem has been formulated. Not all quantum bits (or qubits) are created equal. A qubit is the basic building block of a quantum computer, the equivalent of a bit in a classical machine, but qubits are fragile and error prone. To do any serious computation, many physical qubits must be bundled together to create one reliable “logical qubit” through a process called quantum error correction. The ratio between the two, depending on the technology and the target error rate, can range from roughly 2 to 1 at the optimistic end to over 2,000 to 1 at the demanding end. Rather than asking how many qubits quantum computing needs in the abstract, we instead reframe the question to how many qubits each specific application needs on each specific type of machine and then organise the answers into three broad bands of ambition and difficulty. Why Qubit Numbers Sometimes Mislead A small chemistry calculation might need only a few dozen highly reliable qubits. Breaking modern encryption or proving advantage on hard optimisation problems (finding the
The British company selling quantum-safe encryption as software rather than building quantum computers. This is its commercial history, from a 2017 startup through a turbulent public debut. Arqit Quantum (Nasdaq: ARQQ) is the cybersecurity outlier of the public quantum sector, a British company that sells quantum-safe encryption as software rather than building quantum computers at all. Founded in London in 2017, it went public early in the quantum SPAC wave and then weathered a hard reset of its ambitions. This is the commercial history of Arqit, from a satellite-backed encryption dream to a focused software business. What the company does Arqit sells software that creates quantum-safe encryption keys, meaning keys designed to resist attack even by a future quantum computer. Its platform lets devices generate shared symmetric keys on demand, which the company positions as a simpler alternative to managing complex public-key infrastructure. Customers are telecommunications firms, governments and enterprises worried about long-term data security. The threat Arqit addresses is real and widely accepted, often summarised as harvest now, decrypt later, where adversaries store encrypted data today to break once quantum computers mature. Arqit’s answer is symmetric key agreement delivered as a service. That focus on cryptography, not hardware, sets it apart from every other company in this set. Because it sells software rather than machines, Arqit’s business looks more like a conventional cybersecurity vendor than a quantum hardware maker. Its costs are lower, its product can be deployed over existing networks, and its addressable market is every organisation that needs to protect data for the long term. The trade-off is that it competes in a crowded security market where buyers have many quantum-safe options to choose from. Because it sells software rather than machines, Arqit’s business looks more like a conventional cybersecurity vendor than a quantum-hardware maker. Its costs