DARPA Will Decide the Fate of Your Quantum Investment!

Quantum computing has spent the past decade living comfortably in the world of bold forecasts, elegant physics and ambitious capital raising. Promised breakthroughs span chemistry, cryptography, logistics and national security, yet the uncomfortable question has largely been deferred: can any of today’s quantum architectures ever become economically useful at an industrial scale?

As Matthew Gould, Portfolio Manager of the ICM HPQC Fund, notes, DARPA’s Quantum Benchmarking Initiative (QBI) is designed to force that question into the open. By applying forensic technical scrutiny and commercially grounded benchmarks, the programme aims to distinguish between systems that can plausibly deliver utility-scale performance and those that may struggle to scale beyond the laboratory.

This article explores what DARPA is measuring, why cost, power and manufacturability matter as much as qubit counts, and how these benchmarks may reshape how quantum technologies are evaluated.

Access the full DARPA paper here.

The information in this article should not be considered an offer or solicitation to deal in ICM HPQC Fund (Registration number T22VC0112B-SF003) (the “Sub-fund”). The information is provided on a general basis for informational purposes only and is not to be relied upon as investment, legal, tax, or other advice. It does not take into account the investment objectives, financial situation, or particular needs of any specific investor. The information presented has been obtained from sources believed to be reliable, but no representation or warranty is given or may be implied that it is accurate or complete. The Investment Manager reserves the right to amend the information contained herein at any time, without notice. Investments in the Sub-fund are subject to investment risks, including the possible loss of the principal amount invested. The value of investments and the income derived therefrom may fall or rise. Past performance is not indicative of future performance. Investors should seek relevant professional advice before making any investment decision. This document is intended solely for institutional investors and accredited investors as defined under the Securities and Futures Act (Cap. 289) of Singapore. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

ICM HPQC Fund is a registered Sub-Fund of the ICMGF VCC (the VCC), a variable capital company incorporated in the Republic of Singapore. The assets and liabilities of ICM HPQC Fund are segregated from other Sub-Funds of the VCC, in accordance with Section 29 of the VCC Act.