Company Announcements

BOSTON, June 18, 2024 (GLOBE NEWSWIRE) -- Zapata Computing, Inc. (“Zapata AI”) (Nasdaq: ZPTA), the Industrial Generative AI company, today announced that its paper on early fault tolerant quantum algorithms has been published in PRX Quantum, a highly selective journal that publishes research with an emphasis on outstanding and lasting impact. The paper, titled “Early Fault-Tolerant Quantum Computing” provides a unique, quantitative perspective that bridges the theoretical ideal of fault tolerant quantum computation and the present reality of noisy, imperfect quantum computers. The team argues that the path to scalable fault tolerant quantum computers of the future will likely go through a phase called Early Fault Tolerant Quantum Computing (EFTQC).

The paper was published online on June 17th and can be accessed here.

“Quantum devices today are noisy and error prone while being on the verge of error correction. Quantum computers of the (distant) future can carry out any amount of error correction needed to keep the computation running. But how we get from here to there while keeping an eye on the usefulness of the quantum devices is still not entirely mapped out,” said Yudong Cao, Chief Technology Officer and co-founder of Zapata AI. “This research charts a path forward beyond the current NISQ era (near-term intermediate-scale quantum) and considers how we can design algorithms that leverage the next generation of quantum devices with some degree of error correction. We believe this new class of EFTQC algorithms will bring us closer to a practical quantum advantage for industrial applications across industries.”

Earlier this week, Zapata AI presented its continued leadership in quantum computing at the Qubits conference, hosted by Zapata AI hardware partner D-Wave Quantum Inc. (“D-Wave”) (NYSE: QBTS). In a fireside chat hosted by The Boston Globe’s Aaron Pressman, Cao and Chief Revenue Officer Jon Zorio shared how generative AI can be enhanced by quantum computing and quantum-inspired techniques leveraging GPUs, as well as the implications for industrial applications such as drug discovery and other use cases in industries ranging from telecom to financial services.

The published research in PRX Quantum marks the second time this year Zapata AI’s innovative research was published in a prestigious academic journal. The Company also announced that its foundational research on generator-enhanced optimization (GEO) was published in the esteemed Nature Communications.

Cao concluded, “Having research published in premier and highly esteemed research journals like PRX Quantum and Nature Communications demonstrates the quality of our research team, the capabilities of our platform, and the role Zapata AI will play in advancing the cutting edge at the intersection of AI and quantum in a scientifically rigorous manner. Our mission to solve the most complex problems industries face, and we will not stop until we do so.”

About Zapata AI

Zapata AI is an Industrial Generative AI company, revolutionizing how enterprises solve complex operational challenges with its powerful suite of generative AI software applications and cutting-edge reference architecture. By combining numerical and text-based generative AI models and custom software applications to power industrial-scale solutions, Zapata AI enables enterprises and government entities to drive growth, cost savings through operational efficiencies, and critical operational insights. With its proprietary data science and engineering techniques, and the Orquestra^® platform, Zapata AI is accelerating Generative AI’s impact across industries by delivering solutions which are higher performing, less costly, and more accurate and expressive than current, classical approaches to AI. The Company was founded in 2017 and is headquartered in Boston, Massachusetts.

Forward Looking Statements
Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events and other statements that are not historical facts. These statements are based on the current expectations of Zapata AI’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. These statements are subject to a number of risks and uncertainties regarding Zapata AI’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, Zapata AI’s ability to attract new customers, retain existing customers, and grow; competition in the generative AI industry; Zapata AI’s ability to raise additional capital on non-dilutive terms or at all; Zapata AI’s failure to maintain and enhance awareness of its brand; and the risks and uncertainties discussed in the Company’s filings with the Securities and Exchange Commission (including those described in the Risk Factors section in the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q).

While Zapata AI may elect to update these forward-looking statements at some point in the future, Zapata AI specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Zapata AI’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts:
Media: press@zapata.ai
Investors: investors@zapata.ai