Bosch Collaborates with IBM on Quantum Computing: Details
Bosch is partnering with IBM in the field of quantum computing, hoping to use simulation technology to find substitutes for precious metals and rare earths in carbon-neutral powertrains within the next decade. “We share our experience in simulating materials for specific application areas with IBM, and in return we get a deep understanding of the power and practicality of quantum computing including hardware,” said Bosch Chief Executive Officer Stefan Hartung.
In total, Bosch is investing EUR 10 billion (about Rs. 81,700 crore) in digitalization and communication by 2025, with new technologies focusing on sustainability and accounting for two-thirds of the movement.
Last month, IBM beat quarterly estimates, statement that it expects to exceed full-year revenue growth targets as strong demand for the company’s digital services helped offset the impact of a stronger dollar. The IT software and services provider has been focusing on the so-called “hybrid cloud” after overhauling its IT managed infrastructure business, and posted double-digit growth across all its segments and locations on a constant revenue basis in the third quarter. a quarter.
IBM, whose cloud revenue rose 11 percent to $5.2 billion (about Rs. 42,300 crore) last quarter, had said it expected the company’s annual sales to rise above its previous estimate of mid-digit growth at constant currency.
Business spending was strong in the Americas, but IBM saw some softening in key areas such as new bookings and a lag in Western Europe due to the macroeconomic environment there, Chief Financial Officer James Kavanaugh told Reuters at the time.
The dollar’s rise of more than 17 percent this year has also eaten into IBM’s earnings, reflecting a trend seen at peers such as Microsoft and Salesforce that also have large international operations. IBM, which gets more than half of its revenue outside the US, raised its full-year estimate of the impact of foreign exchange to 7 percent from 6 percent.
© Thomson Reuters 2022
