Multiverse and Xanadu team up for financial quantum software

Multiverse Computing and Canada’s Xanadu, a full-stack photonic quantum computing company, announced a joint partnership to expand Multiverse’s use of Xanadu’s open-source software, PennyLane. It’s expected that Multiverse’s financial services clients will be able to develop applications with greater speed and ease and these applications will enhance financial and banking intelligence in areas ranging from risk modeling to market forecasting.

PennyLane has built a following since its initial release three years ago. It connects the most popular quantum computing platforms with the best machine learning tools using a device-agnostic and open-source approach, allowing users to train quantum computers the same way as neural networks.

“With PennyLane at the core of Multiverse’s product suite, our financial services clients will gain access to tools and best practices in quantum programming, backed by one of the world’s largest open-source quantum communities,” said Samuel Mugel, CTO of Multiverse Computing, in a statement. “We see PennyLane as a critical tool for validating our product efforts, enhancing our ability to rapidly test and deploy new quantum capabilities across our financial user community.”

“We continue to see broader adoption of PennyLane with innovative startups like Multiverse. Xanadu’s open-source software is an excellent vehicle for accelerating development and reducing the time to market for new quantum products,” said Rafal Janik, Xanadu’s head of Product, in a statement. “The collective knowledge of Multiverse’s scientists and their clients provides feedback benefiting the broader open-source community and improving PennyLane.”


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