IBM CEO Arvind Krishna told CNBC that investments in quantum computing will begin to significantly impact the company’s revenue and profits by 2028 or 2029.
The executive also estimated the potential value created by the technology by the end of the 2030s at $1 trillion.
On June 30, IBM, in collaboration with Qedma and Algorithmiq, unveiled research results that the company described as demonstrating quantum advantage. They claim that a quantum computer can solve certain computational tasks more efficiently than leading classical systems and verify the results.
Krishna noted that IBM’s system helped identify material behaviors that researchers could not observe with conventional computing. He linked potential applications to batteries, new materials, fusion energy solutions, and pharmaceuticals.
The IBM chief acknowledged that the pace of commercializing the technology remains contentious due to high error rates, hardware complexity, and scaling issues. However, he stated that the company is already seeing progress toward practical application.
In May, IBM announced plans to establish a separate quantum chip manufacturing facility. The project includes $1 billion in support from the U.S. Department of Commerce under the CHIPS program and an additional $1 billion investment from the company itself.
Krishna also commented on the market’s weak reaction to IBM’s recent earnings report. According to CNBC, on July 14, the company’s shares fell by 25% following the release of quarterly results, then rebounded by only 2%. IBM reported that some clients had postponed capital projects. Krishna stated that the deals were not canceled but delayed, with about 40% closing within three to four weeks.
Earlier, in May, IBM Quantum’s Global Sales Director Petra Florisun declared the beginning of the practical era of quantum computing.
