00:00What does having a US-based chip foundry add to the speed of your own?
00:05It actually does three exciting things for INQ.
00:10The first is that it accelerates our entire roadmap.
00:13So, we talked this morning on...
00:15...on a public webinar sort of earnings call style about the fact that it's going to bring...
00:20...in the cycles of R&D design and packaging iteration we do.
00:25...to build our quantum computing chips and hence our full fault-tolerant machines.
00:30Quite considerably.
00:31We're moving things in by about a year on our 2 million cubic...
00:35...chip and we're moving full fault-tolerant chips forward into...
00:40...in August 20, 28, where we'll have them ready for scale-up by the...
00:45...at the end of the year.
00:46What's exciting also is this is a big bet for us on what's...
00:50...called the merchant supplier play in the quantum industry.
00:53So, INQ already sells...
00:55...or atomic clocks to a number of quantum computing companies in the US.
01:00This is going to expand our ability to supply the quantum industry.
01:04Our photonic...
01:05...interconnect quantum networking business is also built...
01:07...to cater for multiple quantum computers...
01:10...including paths and modalities.
01:13And last but not least, of course, it's a big...
01:15...spread bet on the US semiconductor manufacturing...
01:18...you know, tailwind.
01:20...that I think is already being experienced for critical industries...
01:23...as we rethink through...
01:25...supply chains, security...
01:27...and the importance of keeping everything domestic.
01:30Yeah.
01:31...to ensure security.
01:32Well, does that help build and...
01:35...leverage the...
01:36...relationships you already have with the US government, for example?
01:39Is that an...
01:40...an area that you think is going to drive growth?
01:42Oh, for sure the US government...
01:45...it's a very important partner in the Department of War...
01:47...of course, is very important.
01:49...
01:50...
01:50...Skywater obviously does a lot of work...
01:52...not only for the quantum industry as a whole...
01:54...where I...
01:55...I would argue...
01:56...they are far and away...
01:57...the...
01:58...the leading, if not only, quantum...
02:00...confoundry...
02:01...but Scarborough also does work...
02:02...more broadly...
02:03...in classified programs...
02:04Right.
02:05...as does...
02:05...INQ.
02:06...and so there's plenty of synergies...
02:08...on that vector.
02:10...
02:10...alone...
02:11...we look forward to doing more...
02:12...for our nation's government...
02:14...classified...
02:15...and not...
02:16...we look forward to doing more...
02:17...for our nation's Fortune 500 companies.
02:20...and this is a relationship we're really excited about...
02:22...because it...
02:23...increases the velocity...
02:25...and the frequency...
02:26...with which we can spin wafers...
02:28...across all...
02:30...of our product...
02:31...generations...
02:32...which means the further out we're talking...
02:34...the more room...
02:35...there is to move things forward...
02:37...and you're seeing us...
02:38...continue to spend money...
02:40...to move things to the left...
02:41...on our roadmap...
02:42...and win this...
02:43...geopolitical...
02:44...space race...
02:45...of our era...
02:46...Nicola continuing to spend money...
02:48...there's a lot of emphasis...
02:49...that this is...
02:50...with US-only operations...
02:53...do you look at Europe...
02:55...and...
02:55...in other jurisdictions...
02:56...and give yourself backing...
02:57...to go out and do another deal...
02:59...if you need...
03:00...to have a similar footprint...
03:01...and presence...
03:02...in a different market...
03:03...or geography.
03:05...well Skywater has a tremendous...
03:07...amount of...
03:08...upside capacity...
03:10...that we can tap into here...
03:11...not just on the design...
03:12...engineering side...
03:13...but on actual manufacturing...
03:15...so we did this deal...
03:17...because we believe...
03:18...that manufacturability...
03:19...is paramount...
03:20...our ambition...
03:21...as I think you both know...
03:22...is to be...
03:23...both the NVIDIA...
03:24...and the...
03:25...or Cisco...
03:26...if you will...
03:27...of the quantum computing...
03:28...and quantum networking...
03:29...and security space...
03:30...and so...
03:30...are full quantum platform...
03:32...networking...
03:33...sensing security...
03:34...and computing...
03:35...all...
03:35...all has...
03:36...foundry requirements...
03:37...all has...
03:38...semiconductor manufacturing...
03:39...requirements...
03:40...what the...
03:40...this deal does...
03:41...is it...
03:42...improves certainty...
03:43...brings forward...
03:44...the roadmap...
03:45...and of course...
03:45...make sure that we have...
03:46...industry leading costs...
03:47...so I think...
03:48...this is going to be...
03:49...enough capacity...
03:50...for...
03:50...global production...
03:51...Skywater...
03:52...focuses...
03:53...on...
03:54...high security...
03:55...classes...
03:55...unclassified...
03:56...program work...
03:57...and US government work...
03:58...and that's usually a standard...
03:59...that's accepted...
04:00...very internationally...
04:01...for...
04:02...the Five Eyes...
04:03...NATO...
04:04...and our allies...
04:05...Nicolo...
04:06...in the global...
04:07...quantum race...
04:08...how do you stack...
04:09...the US...
04:10...as...
04:10...leader in field...
04:11...against the prospects...
04:12...of Europe...
04:13...and what you see...
04:14...being worked on...
04:15...in Asia...
04:15...well...
04:17...I fancy...
04:18...Ian Q's chances...
04:20You know, most and first of all, I think that beyond INQ, there's a very vibrant...
04:25...ecosystem in the US, and of course there is in Europe.
04:28The geopolitical race...
04:30...is, I think, very much between the US and our allies and what's going on.
04:35In China, to be honest.
04:37And this is, of course, of paramount strategic importance.
04:40Not just on the computing side, but also on the quantum security side.
04:45These are all solutions that INQ provides.
04:47We're the only quantum platform company...
04:50...in history.
04:51And as you both know, we already have a strong foothold in Oxford.
04:55England, Geneva, Switzerland, and Seoul, Korea, with our offices that continue to...
05:00...to expand to ensure that we're able to not just deliver those solutions, but deliver them in the right...
05:05...global and local way across government and commercial needs in every one of our allies.
05:10Well, that was the other big deal that you did, Oxford Ionics, quantum chip technology that you purchased.
05:14And I'm interested...
05:15...in how the relationships, though, going back to Skywater are going to continue, because they also serve...
05:20...other quantum competitors of yours, will they continue to do so?
05:24Absolutely.
05:25We are steadfastly dedicated to ensure that the quantum industry prevails...
05:30...we respect everyone's pathways to market.
05:34At the same time...
05:35...as I mentioned a couple of minutes ago, INQ already is a merchant supplier on her own.
05:40We supply atomic clocks and photonic interconnects to the industry and networking equipment.
05:44And so...
05:45...so Skywater will be...
05:46...will be taking our existing merchant supplying business and accentuating...
05:50...and deepening and broadening that with, of course, their chips business.
05:53So rest assured, we see this...
05:55...very much as a bet on US quantum, our allies quantum.
06:00...the quantum industry's supply chain needs, doing those...
06:03...fulfilling those securely...
06:04...and it's...
06:05...by scale.
06:06And at the same time, in a walled-off manner, INQs...
06:10...your own roadmap, of course, will also be...
06:12...accelerated and its supply chain domestically...
06:15...assured.
06:16Nicolo, very quickly...
06:18...you said that this brings...
06:20...things forward by a year.
06:21There are people that just aren't familiar with quantum computing.
06:25How real is this going to be in the real world?
06:27And when?
06:28How real is this going to be in the real world?
06:29And when?
06:30Well, we've been saying since we completed the acquisition of Oxford Ionics...
06:34...that full fall...
06:35...tolerant gate model quantum computing...
06:37...is going to happen by the end of this administration.
06:40This transaction obviously accentuates that, underwrites that...
06:45...and assures that.
06:46And so I think you're going to see...
06:48...you know, in the next three years...
06:50...everything that we have promised on our roadmap come good...
06:54...and hope...
06:55...hopefully then some.
06:56The reason why this is so exciting for us...
06:58...is that with Skywater...
07:00...we can make quantum computing a mass market reality...
07:03...and we can do that at a...
07:05...the price point that's accessible...
07:06...not just for governments...
07:08...but also Fortune 500 companies.
07:10...and that's very much our goal...
07:11...to build the winning quantum ecosystem...
07:14...across all...
07:15...all solutions and product family offerings...
07:17...that INQ have...
07:18...security sensing...
07:19...networking and...
07:20...computing.
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