IBM Reports $1B in Cumulative Quantum Computing RevenueIBM Reports $1B in Cumulative Quantum Computing Revenue

IBM has reported nearing a cumulative $1 billion in revenue from its quantum computing initiatives since the launch of its quantum business in 2017.

IBM CEO Arvind Krishna made the statement to CNBC following IBM’s Investor Day presentation, which detailed the company's Q4 earnings.

While CNBC's report suggested the $1 billion total has already been met, the Investor Day presentation states: "IBM Quantum is approaching $1 billion of signings since inception.”

This figure encompasses various revenue streams, including quantum hardware sales, quantum software and services, consulting and partnerships.

IBM has not publicly detailed the exact breakdown of the $1 billion figure. However, it reflects the company's comprehensive efforts in advancing quantum technology and integrating it into practical applications across various industries.

"The quantum business, as discussed yesterday, was signings/bookings since inception," IBM told Enter Quantum.

"While there's revenue included, it's more accurate to describe it as a book of business approaching $1 billion, which would take into account revenue, signings/bookings for multiyear partnerships and IP income."

Speaking at the launch of a new report into the impact of quantum computing on the U.K. economy, IBM chair for U.K. and Ireland Nicola Hodson today said the projected revenue exemplified IBM regularly hitting its quantum roadmap targets.

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"Some of you will have seen our CEO yesterday talking about having already earned $1 billion of revenue in quantum computing," she said.

"We are very confident we will achieve our roadmap milestones. We've achieved every single one of them to date. The next big one that we expect in around two years will be where we see quantum advantage, which means that quantum computers will be able to do tasks faster, less expensively and more accurately than a conventional computer."