French Quantum Computing Firm Pasqal Partners with NVIDIA to Boost Quantum Applications

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Pasqal, a rapidly growing French quantum computing startup, has announced a strategic partnership with Nvidia (NVDA.O) to enhance its quantum applications development tools. Through this collaboration, Pasqal’s customers will gain access to NVIDIA’s open-source platform, CUDA-Q, for improved quantum computing capabilities.

The partnership aims to integrate Pasqal’s quantum computing units and cloud platform with CUDA-Q, providing a powerful interface and programming model for high-performance computing. This move is expected to accelerate the development of quantum applications, benefiting both the high-performance computing community and the broader quantum industry.

Loic Henriet, CEO of Pasqal, emphasized that the collaboration would provide a much-needed interface for developers and further fuel innovation in the quantum computing space.

Founded in 2019, Pasqal has already secured over 140 million euros ($151.8 million) in funding, marking it as a significant player in the growing quantum computing sector.

Micron Forecasts Strong Revenue Growth Driven by High AI Memory Chip Demand

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Micron Technology (MU.O) has forecasted a robust third-quarter revenue, exceeding Wall Street estimates, driven by growing demand for its high-bandwidth memory (HBM) chips crucial to artificial intelligence (AI) models. This surge in AI-related demand sent Micron’s shares up by 2% in after-hours trading.

The company highlighted that AI demand is significantly boosting the need for HBM chips, a specialized form of dynamic random access memory (DRAM) vital for advanced AI systems, particularly those powered by Nvidia’s (NVDA.O) processors—one of the major beneficiaries of the AI boom.

Micron’s Chief Business Officer, Sumit Sadana, told Reuters that the company expects continued sequential growth through 2025, driven by increased capacity and market share in HBM production. Notably, Micron’s HBM chips for 2025 are already sold out, reflecting strong demand.

In addition to HBM chips, Micron also provides flash memory NAND chips, with demand expected to rise across both data center and consumer markets. The company forecasts significant profitability improvements for fiscal 2025, which ends in August.

Michael Ashley Schulman, Chief Investment Officer at Running Point Capital, emphasized Micron’s key role in supplying essential memory components for AI infrastructure, noting that the company’s positive outlook underscores its importance in the rapidly expanding AI sector.

Micron’s forecast includes anticipated revenue of $8.80 billion, with a margin of plus or minus $200 million for the third quarter. This exceeds the consensus estimate of $8.5 billion. For the second quarter ending February 27, Micron posted revenue of $8.05 billion, surpassing the $7.89 billion estimate, with earnings per share of $1.56, well above the $1.42 forecast.

However, Micron also acknowledged the uncertainty surrounding potential new tariffs imposed by the Trump administration, stating that it has not factored the potential impact into its forecasts but plans to pass any costs on to customers.

Kraken to Acquire NinjaTrader for $1.5 Billion, Expanding into Multiple Asset Classes

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Kraken, one of the world’s largest cryptocurrency exchanges, announced on Thursday that it would acquire retail futures trading platform NinjaTrader for $1.5 billion. This acquisition will allow Kraken to diversify its offerings by expanding into multiple asset classes, including futures and derivatives, while growing its user base.

The deal comes at a time of optimism within the cryptocurrency industry, as many anticipate more relaxed regulations under the leadership of U.S. President Donald Trump. Trump, known for courting crypto donors during the election, has promised support for the sector, fueling hopes of policy shifts that could encourage institutional adoption and provide clearer rules for digital asset trading.

Kraken’s acquisition of NinjaTrader follows a recent legal victory when the U.S. Securities and Exchange Commission (SEC) dismissed a civil lawsuit accusing Kraken of operating illegally as an unregistered securities exchange. Kraken, ranked as the world’s tenth-largest cryptocurrency spot exchange, according to CoinMarketCap, is poised to benefit from the growing demand for diverse financial products that blend traditional and digital assets.

This acquisition highlights the ongoing convergence between crypto companies and traditional financial firms, as the digital asset market continues to gain broader acceptance. Oppenheimer analyst Owen Lau noted that this deal is significant, marking a major crypto company’s expansion into traditional finance. Lau anticipates further deals in this sector, especially under a pro-crypto administration.

NinjaTrader, which has nearly 2 million retail traders, will continue to operate independently under Kraken, with the deal expected to close in the first half of 2025.