Intel to buy quantum firm Classiq for about $2.3 billion, Bloomberg News reports

Oct 27 — Intel has agreed to acquire Israeli ​quantum computing software company Classiq for about $2.3 billion, Bloomberg News reported on Tuesday, ‌citing people familiar with the matter.

Classiq and Intel declined ⁠to comment. Reuters ​could not independently ⁠verify the report.

Here are some more ‌details:

• Intel ‌announced the deal on Monday but did ⁠not disclose financial ⁠terms

• The deal would let the American chipmaker offer both the hardware and software needed to run quantum systems, making it a so-called full-stack quantum ‌computing provider

• Classiq, which ​has raised over $200 million, makes software that simplifies the process of writing programs for quantum computers

• The Israeli startup would also add quantum processors to Intel's lineup, which already includes central ​processing units and graphics processors

• Intel ‌said it plans ‌to ⁠keep Classiq's software compatible with other companies' hardware after the deal closes

• The deal is subject to regulatory approvals ‌and is expected to ​close in the ‌first half of ⁠2027

(Reporting ​by Anhata Rooprai in Bengaluru; Editing by Devika ​Syamnath)

Related topics