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This 114-year-old industrial giant just launched one of the world's fastest supercomputers

Honeywell’s (HON) pivot to unleashing the tech of the future to power the industrial economy for decades to come continues.

And it just got a quantum boost.

The 114-year-old industrial giant said Tuesday it will release one of the world’s most powerful quantum computers within the next three months. Honeywell — through its VC business Honeywell Ventures — also disclosed strategic investments in two quantum computing software providers: Cambridge Quantum Computing and Zapata Computing.

It will team up with investment bank JPMorgan Chase to develop quantum computing algorithms.

Honeywell believes the quantum computer will be the “most powerful” on the market in terms of quantum volume. It says the computer, once launched in three months, will have quantum volume of 64 (compared to the 28-qubit quantum computer from IBM)— almost two times that of its closest competitor.

“Quantum computing will enable us to tackle complex scientific and business challenges, driving step-change improvements in computational power, operating costs and speed,” Honeywell CEO Darius Adamczyk said in a statement.

‘Quantum supremacy’

Adamczyk — who has led Honeywell’s tech pivot — added, “Material companies will explore new molecular structures. Transportation companies will optimize logistics. Financial institutions will need faster and more precise software applications. Pharmaceutical companies will accelerate the discovery of new drugs. Honeywell is striving to influence how quantum computing evolves and to create opportunities for our customers to benefit from this powerful new technology.”

The logo of company Honeywell is pictured at the event 'Unveiled' which is part of the consumer electronics show CES in Las Vegas, USA, 05 January 2014. The trade fair will take place from 07 till 10 January 2014. Photo: BRITTA PEDERSEN/dpa | usage worldwide   (Photo by Britta Pedersen/picture alliance via Getty Images)
(Photo by Britta Pedersen/picture alliance via Getty Images)

To be a fly on the wall at IBM and Google headquarters following this release. Both tech giants have escalated the battle for quantum computer supremacy in recent months.

IBM has doubled its quantum computing volume every year since 2017. It said earlier this year its quantum computer dubbed Raleigh reached a quantum volume of 32 at one point, up from 16 a year ago. In the meantime in October, Google made a splash by saying its quantum computer Sycamore achieved “quantum supremacy.” Sycamore solved a complex mathematical calculation in three minutes and 20 seconds that other supercomputers could not complete in under 10,000 years.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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