IBM along with researchers at the University of Chicago, Qedma and Algorithmiq highlighted a series of computations that they claim showed quantum advantage with error correction. A trio of papers walk through the calculations and the research.
Qualcomm reported third quarter earnings of $2 billion, or $1.87 a share, on revenue of $9.95 billion, down 4% from a year ago. Non-GAAP earnings were $2.21 a share. The company said it executed well and managed through memory prices and tight supply. Qualcomm's non-GAAP earnings missed estimates by a penny a share.
The company also said that it has completed its acquisition of Modular. The company also inked a 10-year deal to be the silicon provider for BMW's digital cockpit and automated driving efforts.
Nate Baxter, the new CEO for Scotts Miracle-Gro Company, said he's planning to hire a new CIO and Chief Innovation Officer but won't fill the chief operating officer role. Speaking on Scotts Miracle-Gro's third quarter earnings call, Baxter said he's building out his team to drive transformation.
"I will be hiring a Chief Innovation Officer and a Chief Information Officer as we focus on increasing our investments in our brands, AI, automation, technology and data analytics. In parallel, we are undertaking a rigorous assessment of our talent to ensure we have the right people in the right roles for where we are going and to create a strong pipeline of future leaders."
Anand Birje, former CEO of Encora, will become Hitachi's CEO of Digital Engineering & AI Solutions within the Digital Systems & Services sector. Birje stepped down from Encora in April. Encora was acquired by Coforge.
Birje previously held multiple executive roles at HCL Technologies.
Bloom Energy passed the $1 billion quarterly revenue mark for the first time. The company reported second quarter earnings of 62 cents a share on revenue of $1.06 billion, up 165% from a year ago. CEO KR Sridhar said:
"Today, all the major US hyperscalers and over a dozen US neoclouds, AI labs, and colocation data center operators have validated and approved our power solutions for their AI factories."
Snowflake launched Cortex AI Gateway, which aims to govern AI agents and control consumption costs. Cortex AI Gateway, which is built on the acquisition of Natoma, orchestrates and governs Snowflake native agents as well as third party ones.
Boomi said it has closed its Lunar.dev acquisition. The company said the plan is to provide an AI gateway to govern AI agents and manage connectivity between models and enterprise systems.
The deal was announced in May at Boomi World.
Neptune Insurance, which we covered when it went public, delivered a strong first quarter and highlighted what an AI-native company looks like. Some fun facts.
3M CEO William Brown said the company is using “AI-enabled tools that enhance planning, prioritize opportunities and accelerate productivity.” Specifically, Brown said on the company’s second quarter earnings call:
“Many of the activities and support functions like finance, HR and customer service operate independently across regions and business units, creating unnecessary complexity, inefficiency and duplication. We're bringing these activities together into a single global service delivery model and partnering with an external provider to run them at scale using automation and AI.”
Nvidia said it has invested in Ilya Sutskever’s Safe Superintelligence Inc. As part of the partnership, Safe Superintelligence will get access to Nvidia's Vera Rubin systems and collaborate on next-gen capabilities.
Nvidia said it is launching the Open Secure AI Alliance to share tools that can better secure open weight models. The alliance launches with a bevy of key players, but there were a few notable omissions in AWS and Google.
AT&T will use D-Wave's quantum computing technology for network optimization use cases. According to D-Wave, AT&T used its quantum systems to reduce processing time for a network optimization workload from about an hour to less than 15 seconds. AT&T will now explore more use case for quantum.
