Arvind Krishna says quantum will change business by 2029
IBM CEO Arvind Krishna is confident that quantum computing will change the game for businesses as soon as 2028 or 2029.
He told CNBC that this tech could unlock $1 trillion in value by the late 2030s.
Separately, IBM and Algorithmiq unveiled research showing quantum computers already outpacing traditional ones on some tough problems.
Krishna highlights $2B quantum chip foundry
Krishna sees quantum making waves in areas like advanced materials, batteries, fusion energy, and smarter medicines.
Despite tricky hardware and error rates, he says IBM is making real progress, highlighting a $2 billion investment in a quantum chip foundry backed by $1 billion from the US Commerce Department and a matching $1 billion from IBM this May.
Krishna says 40% deferred deals closed
After IBM's stock took a hit following July earnings, Krishna clarified that recent deal delays were just deferrals, not cancelations, and shared that about 40% of those deals had already closed within weeks, showing strong demand for IBM's tech.