Latest news with #superconducting
Yahoo
12 hours ago
- Business
- Yahoo
From Power-Hungry AI to Energy Saver: Snowcap's $23M Move to Revolutionize Computing
Snowcap Compute, a semiconductor startup developing superconducting AI chips, announced a $23 million seed round on Monday. According to Reuters, the company is backed by Playground Global and led by former Intel CEO Pat Gelsinger, who will also serve as board chair. The funding round also included Cambium Capital and Vsquared Ventures. The startup aims to create high-performance computing platforms that require significantly less power than current-generation chips. Snowcap said its superconducting architecture will deliver 25 times better performance per watt compared to existing AI systems. Don't Miss: Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can invest with $1,000 at just $0.30/share. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Snowcap Compute's superconducting chips are designed to operate with zero electrical resistance and require cryogenic cooling to function, according to Reuters. The company said the chips are being developed to reduce electricity consumption in artificial intelligence computing, a sector facing increasing energy demands. Nvidia's (NASDAQ:NVDA) upcoming Rubin Ultra server, expected in 2027, is projected to consume around 600 kilowatts of power—about two-thirds of the monthly electricity use of a typical U.S. household, Reuters reported. Snowcap CEO Michael Lafferty, formerly with Cadence Design Systems (NASDAQ:CDNS), told Reuters that the performance-to-power ratio of Snowcap's architecture justifies the energy spent on cooling. "We're pushing the performance level way up and pulling the power down at the same time," he said. Snowcap plans to release a basic chip by the end of 2026. Full system deployments will follow at a later stage. The chips will be manufactured in a conventional factory using niobium titanium nitride sourced from Brazil and Canada, Reuters reported. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Become an Investor in This $41.3M Clean Energy Brand Today Gelsinger, who stepped down as Intel CEO in December, said the industry must rethink its reliance on increasingly power-hungry chips. "A lot of data centers today are just being limited by power availability," he told Reuters. In a LinkedIn post, Gelsinger described Snowcap as "the first commercially viable superconducting compute platform," and said it delivers performance and efficiency gains across classical, AI, and quantum workloads. He called it his first public investment as general partner at Playground Global and said the company's technology could address compute bottlenecks and "push the boundaries of what is possible with silicon."Snowcap's founding team includes superconducting researchers Anna Herr and Quentin Herr, who previously worked at chip research firm Imed and defense contractor Northrop Grumman Corp. (NYSE:NOC). The team also includes former executives from Nvidia and Alphabet Inc.'s (NASDAQ:GOOG, GOOGL)) Google unit. According to Snowcap, its architecture is engineered for high-performance AI inference and training, quantum-classical hybrid workloads, and low-latency systems. Founded in 2024, Snowcap enters a growing field of startups pursuing alternatives to conventional complementary metal-oxide-semiconductor-based processors. The company said its superconducting logic offers "orders-of-magnitude gains in processing speed and efficiency" and aims to support emerging compute workloads spanning AI, high-performance computing, and quantum workflows. Read Next: Are you rich? Here's what Americans think you need to be considered wealthy. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article From Power-Hungry AI to Energy Saver: Snowcap's $23M Move to Revolutionize Computing originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
12 hours ago
- Business
- Yahoo
From Power-Hungry AI to Energy Saver: Snowcap's $23M Move to Revolutionize Computing
Snowcap Compute, a semiconductor startup developing superconducting AI chips, announced a $23 million seed round on Monday. According to Reuters, the company is backed by Playground Global and led by former Intel CEO Pat Gelsinger, who will also serve as board chair. The funding round also included Cambium Capital and Vsquared Ventures. The startup aims to create high-performance computing platforms that require significantly less power than current-generation chips. Snowcap said its superconducting architecture will deliver 25 times better performance per watt compared to existing AI systems. Don't Miss: Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can invest with $1,000 at just $0.30/share. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Snowcap Compute's superconducting chips are designed to operate with zero electrical resistance and require cryogenic cooling to function, according to Reuters. The company said the chips are being developed to reduce electricity consumption in artificial intelligence computing, a sector facing increasing energy demands. Nvidia's (NASDAQ:NVDA) upcoming Rubin Ultra server, expected in 2027, is projected to consume around 600 kilowatts of power—about two-thirds of the monthly electricity use of a typical U.S. household, Reuters reported. Snowcap CEO Michael Lafferty, formerly with Cadence Design Systems (NASDAQ:CDNS), told Reuters that the performance-to-power ratio of Snowcap's architecture justifies the energy spent on cooling. "We're pushing the performance level way up and pulling the power down at the same time," he said. Snowcap plans to release a basic chip by the end of 2026. Full system deployments will follow at a later stage. The chips will be manufactured in a conventional factory using niobium titanium nitride sourced from Brazil and Canada, Reuters reported. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Become an Investor in This $41.3M Clean Energy Brand Today Gelsinger, who stepped down as Intel CEO in December, said the industry must rethink its reliance on increasingly power-hungry chips. "A lot of data centers today are just being limited by power availability," he told Reuters. In a LinkedIn post, Gelsinger described Snowcap as "the first commercially viable superconducting compute platform," and said it delivers performance and efficiency gains across classical, AI, and quantum workloads. He called it his first public investment as general partner at Playground Global and said the company's technology could address compute bottlenecks and "push the boundaries of what is possible with silicon."Snowcap's founding team includes superconducting researchers Anna Herr and Quentin Herr, who previously worked at chip research firm Imed and defense contractor Northrop Grumman Corp. (NYSE:NOC). The team also includes former executives from Nvidia and Alphabet Inc.'s (NASDAQ:GOOG, GOOGL)) Google unit. According to Snowcap, its architecture is engineered for high-performance AI inference and training, quantum-classical hybrid workloads, and low-latency systems. Founded in 2024, Snowcap enters a growing field of startups pursuing alternatives to conventional complementary metal-oxide-semiconductor-based processors. The company said its superconducting logic offers "orders-of-magnitude gains in processing speed and efficiency" and aims to support emerging compute workloads spanning AI, high-performance computing, and quantum workflows. Read Next: Are you rich? Here's what Americans think you need to be considered wealthy. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article From Power-Hungry AI to Energy Saver: Snowcap's $23M Move to Revolutionize Computing originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Snowcap Compute Launches with $23 Million Led by Playground Global to Power the Next Era of AI and Quantum Compute
Superconducting startup aims to expand the limits of silicon PALO ALTO, Calif., June 23, 2025--(BUSINESS WIRE)--Snowcap Compute, a startup building the first commercially viable superconducting compute platform, today launched with $23 million in seed funding led by Playground Global. Engineered for extreme performance and energy efficiency, Snowcap's architecture enables a new class of data centers optimized for AI, quantum, and high-performance computing (HPC). The platform delivers the performance and efficiency needed to power advanced AI inference and training, as well as HPC and quantum-classical hybrid workloads. "We're building compute systems for the edge of what's physically possible," said Michael Lafferty, CEO, Snowcap. "Superconducting logic lets us push beyond the limits of existing CMOS technology, achieving orders-of-magnitude gains in processing speed and efficiency. That performance is essential for the future of AI and quantum computing." Snowcap is led by an exceptional team of silicon industry veterans with extensive scientific, technical and operational experience. In addition to Lafferty, whose tenure as director of Cadence's "More than Moore" engineering group focused on pioneering superconducting and quantum technologies, the founding team includes Chief Science Officer Anna Herr, Ph.D., and Chief Technology Officer Quentin Herr, Ph.D., who are globally recognized as the foremost researchers in practical superconducting computers with key roles at Northrop Grumman and imec. Joining Mike, Anna, and Quentin is a roster of deep tech Silicon Valley veterans, including advisors Brian Kelleher, former SVP of GPU engineering at NVIDIA, and Phil Carmack, former VP of silicon engineering at Google. "Snowcap represents a rare opportunity to realize dramatic performance and power efficiency gains," said Pat Gelsinger, General Partner at Playground Global and Chair of the Board at Snowcap. "Reimagining a post-CMOS world from the ground up with the most capable and experienced team in superconducting technology is exactly the kind of breakthrough that Playground was built to enable. The implications for AI, quantum and HPC are both thrilling and profound." Built on decades of research and development, Snowcap's platform is engineered to support next-generation quantum and low-temperature compute systems, enabling exceptional speed, efficiency and low latency. Snowcap has also solved the key engineering challenges that have prevented superconducting technology from reaching broad commercialization in the past, including scaling, fab compatibility, EDA challenges, and system architecture issues. Joining Playground in this seed round are Cambium Capital, which specializes in compute and deep tech investments, and Vsquared Ventures, a European firm with a strong track record in international semiconductor investing. About Snowcap Snowcap is building the first commercially viable superconducting compute platform — designed to deliver dramatic gains in speed and energy efficiency for AI, quantum, and high-performance computing. Founded by a team of experts in superconducting logic, digital architectures, and systems engineering, Snowcap is rethinking classical compute for the age of cryo and quantum infrastructure. Learn more at About Playground Global Playground Global is a deep tech venture capital firm with $1.2 billion under management, backing early-stage startups solving foundational challenges in next-generation compute, automation, energy transition, and engineered biology. Founded in 2015 and based in Palo Alto, Playground partners closely with technical and scientific founders to turn breakthrough ideas into lasting companies. Portfolio highlights include PsiQuantum, MosaicML (acquired by Databricks), d-Matrix, Agility Robotics, Ideon, Ultima Genomics, and Strand Therapeutics. Learn more at View source version on Contacts Steve Smithssmith@
Yahoo
19-06-2025
- Business
- Yahoo
US companies help build 60-foot-tall magnet that could revolutionize energy: 'A major engineering challenge'
Eight suppliers from six states have contributed to an astounding 60-foot-tall superconducting magnet crucial to a fusion experiment in France, according to the Oak Ridge National Laboratory, the agency overseeing the project. U.S. ITER shipped the unit for the central solenoid early this year. It's made of more than 9,000 parts that were developed during a decade of work by numerous companies. It joined other high-tech components at the International Thermonuclear Experimental Reactor, commonly called ITER, in Europe. The machine reportedly cost more than $22 billion, per Euronews. "Designing and manufacturing the first-of-a kind superconducting central solenoid is a major engineering challenge," Oak Ridge senior project engineer David Vandergriff said in a news release. ITER is being built as part of a seven-nation partnership to prove that fusion reactions can be sustained at scale, harnessing the same energy source that powers the sun. The goal is to maintain a reaction for hundreds of seconds, per Oak Ridge. Fission reactions already power 54 plants in the U.S. that produce about 19% of America's electricity, according to government data. But the atom-splitting process results in long-lasting nuclear waste. The byproduct is in the form of ceramic pellets, not green ooze, which is a common misconception. Rare, yet disastrous nuclear accidents are also a risk. Fusion reactions, in comparison, slam atoms together to form a new one, producing energy without lingering radioactive waste. The hurdle has been creating a chamber that produces more power than it takes to make it, per the U.S. Department of Energy. Both forms eliminate heat-trapping air pollution caused by the burning of dirty fossil fuels that increases the risk of severe weather, according to NASA. The extreme storms can cause blackouts, heat waves, and even higher insurance premiums. But activists such as Jane Fonda have been outspoken against efforts to expand fission projects, including the reopening of Three Mile Island in Pennsylvania. The site of an accident decades ago, it's now being tabbed by Microsoft to help power growing data center demand. Colorado-based clean energy think tank RMI co-founder Amory Lovins told The Cool Down that nuclear power is increasingly expensive and slow to develop, touting solar and wind as better options. Abundant, cleaner fusion energy could provide a game-changing answer to fission's problems with the potential to lower utility bills. And it will likely take a worldwide effort to unlock. Experiments are happening in China and elsewhere, as well. U.S. ITER's contribution is crucial to producing the magnetic flux needed to generate and maintain plasma current, according to Oak Ridge. Should we be digging into the ground to find new energy sources? Definitely No way As long as it's not near me As long as it's clean energy Click your choice to see results and speak your mind. The setup must be able to withstand massive force, which is partly why the reactions that involve swirling plasma in an environment heated to hundreds of millions of degrees are so tough to accommodate. The team developed strong support components to bolster the unit during the operational rigors. "At key times, the resultant vertical force on the module stack is up to 60 meganewtons — more than twice the force of a space rocket at blast off," U.S. ITER engineering technical director Kevin Freudenberg said in the release. There are also ways other than fusion to tap sun-related energy. Solar panels capture radiation directly from the sun, converting it to electricity with improved efficiency. You can reduce or eliminate your utility bill with the right setup. EnergySage is a free online tool that can help you leverage available tax breaks and find the best installer, resulting in thousands in savings with cleaner electricity. Palmetto's LightReach is a leasing option that can help you realize solar's cost savings without the upfront expenses, making the tech available to more people. Join our free newsletter for weekly updates on the latest innovations improving our lives and shaping our future, and don't miss this cool list of easy ways to help yourself while helping the planet.
Globe and Mail
11-06-2025
- Business
- Globe and Mail
Rigetti Rides Quantum Momentum: Will Strategic Deals Boost Growth?
Rigetti Computing RGTI marked a significant milestone in February by entering a strategic collaboration with Quanta Computer, a global leader in electronics manufacturing. This agreement reflects a long-term commitment to advancing quantum computing technologies through a combination of financial backing, technological integration, and strategic deployment. Quanta has committed to a $35 million equity investment in Rigetti as part of the deal, signaling strong confidence in the company's quantum roadmap. Over the next five years, both companies plan to contribute more than $100 million each toward joint development initiatives. The collaboration aims to accelerate the commercialization of superconducting quantum processors, with an emphasis on building scalable, fault-tolerant systems that can be deployed across academic, enterprise, and government sectors. Beyond financial support, this partnership opens the door for Rigetti to leverage Quanta's manufacturing scale, global reach, and operational infrastructure. For Rigetti, aligning with a hardware manufacturing powerhouse is critical to transitioning from research-stage prototypes to commercially viable quantum computing systems. The alliance is expected to focus on producing and distributing Rigetti's advanced quantum processing units, integrating them into broader computing frameworks, and advancing applications across logistics, pharmaceuticals, and machine learning. The timing of the partnership is strategic, coming on the heels of Rigetti's Ankaa-3 launch, an 84-qubit system boasting a 99.5% two-qubit gate fidelity. This positions the company to move quickly toward meaningful real-world deployment, solidifying its place in the emerging quantum computing economy. Peer Companies Embrace Strategic Partnerships In February, IonQ IONQ, another leader in quantum computing, partnered with General Dynamics Information Technology (GDIT) to bring quantum computing solutions to the government and defense sectors. This collaboration aims to co-develop and market advanced quantum processing and networking applications, addressing high-impact use cases such as quantum AI extensions and resource optimization. Similarly, in January, D-Wave Quantum QBTS announced a partnership with Carahsoft Technology Corp., a prominent provider of IT solutions for government entities. This collaboration is intended to bring D-Wave's quantum computing technologies to public sector organizations through Carahsoft's reseller network and multiple procurement platforms. Rigetti's Price Performance, Valuation and Estimates Shares of RGTI have lost 22.6% in the year-to-date period against the industry 's growth of 10.5%. Image Source: Zacks Investment Research From a valuation standpoint, Rigetti trades at a price-to-book ratio of 16.38, above the industry average. RGTI carries a Value Score of F. Image Source: Zacks Investment Research The Zacks Consensus Estimate for Rigetti's 2025 earnings implies a significant 86.1% rise from the year-ago period. Image Source: Zacks Investment Research The stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 7 Best Stocks for the Next 30 Days Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops." Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report IonQ, Inc. (IONQ): Free Stock Analysis Report Rigetti Computing, Inc. (RGTI): Free Stock Analysis Report D-Wave Quantum Inc. (QBTS): Free Stock Analysis Report
