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HSBC Finds Quantum Computing Boosts Bond Trading Efficiency

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HSBC, Europe’s largest bank, announced on Thursday that a quantum computing trial with IBM has produced promising results for bond trading, marking one of the first real-world finance applications of the emerging technology.

The pilot delivered a 34% improvement in predicting the likelihood that a bond trade would be filled at a quoted price, giving HSBC a potential competitive edge over traditional computing methods.

Quantum computing uses the principles of quantum physics to solve complex problems far faster than classical computers. While the technology remains in its early stages with few proven applications, it is seen as having transformative potential for industries such as finance, logistics, and pharmaceuticals.

According to a McKinsey report in June, the global quantum technology market could reach $100 billion within a decade, up from just $4 billion in revenue last year, driven largely by advancements in quantum computing.

HSBC said its experiment combined quantum and classical computing to price trades in the European corporate bond market. Automated algorithms calculate trade prices for client inquiries in real time, factoring in both market conditions and risk.

“This means we now have a tangible example of how today’s quantum computers could solve a real-world business problem at scale,” said Philip Intallura, HSBC’s group head of quantum technologies.

Trump jokes about AI “taking over the world” as U.S. and U.K. sign tech deal

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U.S. President Donald Trump, speaking alongside U.K. Prime Minister Keir Starmer in London, quipped that artificial intelligence was “taking over the world” and admitted he hoped tech leaders understood it better than he did. The remarks came during Trump’s second state visit to Britain, at an event attended by Nvidia CEO Jensen Huang and other industry figures.

Departing from prepared remarks on the strength of U.S.-U.K. relations and new tech investments, Trump turned to Huang with a laugh: “Jensen, I don’t know what you’re doing here. I hope you’re right. All I can say is, we both hope you’re right.” His comments drew laughter from Starmer and the audience.

The two leaders signed a “Tech Prosperity Deal”, pledging deeper cooperation on artificial intelligence, quantum computing, and civil nuclear projects. Under the agreement, Nvidia will deploy 120,000 GPUs across Britain, marking its largest European rollout to date.

Trump, characteristically playful, joked with Treasury Secretary Scott Bessent before signing: “Should I sign this? If the deal’s no good, I’m blaming you, Scott.”

The partnership aims to strengthen transatlantic research and industry collaboration while addressing the disruptive potential of AI—a technology Trump acknowledged as both transformative and unsettling.

PsiQuantum Hits $7B Valuation, Secures $1B Funding and Partners with Nvidia

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Quantum computing startup PsiQuantum announced Wednesday it has raised $1 billion in a Series E funding round, boosting its valuation to $7 billion, while also unveiling a collaboration with Nvidia to accelerate its quantum computing development.

Funding Details

  • Round size: $1 billion (Series E)

  • Valuation: $7 billion

  • Lead investors: BlackRock, Temasek, Baillie Gifford

  • New investors: Nvidia’s NVentures, Macquarie Capital, Ribbit Capital

Expansion Plans

The funding will support:

  • New sites in Brisbane, Australia and Chicago, Illinois

  • Deployment of large test systems to validate PsiQuantum’s design

Technology Edge

  • Photonic approach: Uses light particles on silicon chips

  • Built on semiconductor manufacturing and fiber-optic networking for scalability

  • Goal: Build the first million-qubit, fault-tolerant quantum computer

Nvidia Collaboration

  • Nvidia chips will help connect classical and quantum machines

  • Integration to improve PsiQuantum’s silicon-photonics quantum chips

  • Aimed at advancing software and hardware ecosystems for practical quantum applications

Applications of Quantum Computing

  • Drug discovery

  • Materials science

  • Cybersecurity breakthroughs

  • Potential to solve problems beyond the reach of AI and today’s supercomputers

Partnerships & Manufacturing

  • PsiQuantum has partnered with GlobalFoundries to fabricate its chips at the foundry’s New York facility.

Outlook

With Nvidia’s backing and $1B in fresh capital, PsiQuantum is positioning itself as a frontrunner in the global quantum race, moving closer to proving its designs and delivering scalable, commercial quantum computers.