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Microsoft CDR (CAD Hedged)
Symbol MSFT
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Market Cap C$ 294,883,500
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Globe says Photonic unveils partnership with Microsoft

2023-11-09 07:11 ET - In the News

The Globe and Mail reports in its Thursday, Nov. 9, edition that Vancouver-based Photonic has announced a $193-million financing partnership with Microsoft. The Globe's Sean Silcoff and Ivan Semeniuk write that Photonic said Wednesday it plans to build a quantum computer using silicon chips that are networked with light. Photonic founder and chief quantum officer Stephanie Simmons says, "What we're bringing to the table is the fact that the network is the computer." The 120-person company says its collaboration with Microsoft will allow users to access its quantum system through Microsoft's Azure cloud computing network. Microsoft vice-president of advanced quantum development Krysta Svore says unlike commercial agreements with other quantum computer makers operating on Azure, the Photonic deal is a "co-innovation collaboration" to promote quantum networking. Microsoft will offer Photonic as a preferred hardware provider for customers doing computational chemistry and material science discovery. Photonic previously raised $55-million from investors including veteran technology executive Paul Terry, who became chief executive officer in 2019, and former Microsoft president Don Mattrick.

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