Intel reportedly to buy quantum software firm Classiq for US$2.3 billion

The cash-and-stock deal would be the largest in the history of quantum computing, according to reports. The previous record was US$1 billion, when IonQ bought Oxford Ionics last year.

Classiq, an Israeli company founded six years ago, makes software that links quantum hardware to the businesses and researchers who want to use it. It works across different makers' machines and counts BMW, HSBC and Citi among its customers.

Quantum computers in existence

117 computers worldwide

Only 117 quantum computers exist worldwide, according to the report, and their cost and limited access still hold back adoption.

Classiq has about 150 employees and has raised roughly US$200 million. Intel has set aside more than US$100 million in retention grants to keep its staff.