Category: 3. Business

Quantum computers have the potential to model new molecules and weather patterns better than any computer today. They may also one day accelerate artificial intelligence algorithms at a much lower energy footprint. But anyone interested in using quantum computers faces a steep learning curve that starts with getting access to quantum devices and then figuring out one of the many quantum software programs on the market.

Now qBraid, founded by Kanav Setia and Jason Necaise ’20, is providing a gateway to quantum computing with a platform that gives users access to the leading quantum devices and software. Users can log on to qBraid’s cloud-based interface and connect with quantum devices and other computing resources from leading companies like Nvidia, Microsoft, and IBM. In a few clicks, they can start coding or deploy cutting-edge software that works across devices.

“The mission is to take you from not knowing anything about quantum computing to running your first program on these amazing machines in less than 10 minutes,” Setia says. “We’re a one-stop platform that gives access to everything the quantum ecosystem has to offer. Our goal is to enable anyone — whether they’re enterprise customers, academics, or individual users — to build and ultimately deploy applications.”

Since its founding in June of 2020, qBraid has helped more than 20,000 people in more than 120 countries deploy code on quantum devices. That traction is ultimately helping to drive innovation in a nascent industry that’s expected to play a key role in our future.

“This lowers the barrier to entry for a lot of newcomers,” Setia says. “They can be up and running in a few minutes instead of a few weeks. That’s why we’ve gotten so much adoption around the world. We’re one of the most popular platforms for accessing quantum software and hardware.”

A quantum “software sandbox”

Setia met Necaise while the two interned at IBM. At the time, Necaise was an undergraduate at MIT majoring in physics, while Setia was at Dartmouth College. The two enjoyed working together, and Necaise said if Setia ever started a company, he’d be interested in joining.

A few months later, Setia decided to take him up on the offer. At Dartmouth, Setia had taken one of the first applied quantum computing classes, but students spent weeks struggling to install all the necessary software programs before they could even start coding.

“We hadn’t even gotten close to developing any useful algorithms,” Seita said. “The idea for qBraid was, ‘Why don’t we build a software sandbox in the cloud and give people an easy programming setup out of the box?’ Connection with the hardware would already be done.”

The founders received early support from the MIT Sandbox Innovation Fund and took part in the delta v summer startup accelerator run by the Martin Trust Center for MIT Entrepreneurship.

“Both programs provided us with very strong mentorship,” Setia says. “They give you frameworks on what a startup should look like, and they bring in some of the smartest people in the world to mentor you — people you’d never have access to otherwise.”

Necaise left the company in 2021. Setia, meanwhile, continued to find problems with quantum software outside of the classroom.

“This is a massive bottleneck,” Setia says. “I’d worked on several quantum software programs that pushed out updates or changes, and suddenly all hell broke loose on my codebase. I’d spend two to four weeks jostling with these updates that had almost nothing to do with the quantum algorithms I was working on.”

QBraid started as a platform with pre-installed software that let developers start writing code immediately. The company also added support for version-controlled quantum software so developers could build applications on top without worrying about changes. Over time, qBraid added connections to quantum computers and tools that lets quantum programs run across different devices.

“The pitch was you don’t need to manage a bunch of software or a whole bunch of cloud accounts,” Setia says. “We’re a single platform: the quantum cloud.”

QBraid also launched qBook, a learning platform that offers interactive courses in quantum computing.

“If you see a piece of code you like, you just click play and the code runs,” Setia says. “You can run a whole bunch of code, modify it on the fly, and you can understand how it works. It runs on laptops, iPads, and phones. A significant portion of our users are from developing countries, and they’re developing applications from their phones.”

Democratizing quantum computing

Today qBraid’s 20,000 users come from over 400 universities and 100 companies around the world. As qBraid’s user base has grown, the company went from integrating quantum computers onto their platform from the outside to creating a quantum operating system, qBraid-OS, that is currently being used by four leading quantum companies.

“We are productizing these quantum computers,” Setia explains. “Many quantum companies are realizing they want to focus their energy completely on the hardware, with us productizing their infrastructure. We’re like the operating system for quantum computers.”

People are using qBraid to build quantum applications in AI and machine learning, to discover new molecules or develop new drugs, and to develop applications in finance and cybersecurity. With every new use case, Setia says qBraid is democratizing quantum computing to create the quantum workforce that will continue to advance the field.

“[In 2018], an article in The New York Times said there were possibly less than 1,000 people in the world that could be called experts in quantum programming,” Setia says. “A lot of people want to access these cutting-edge machines, but they don’t have the right software backgrounds. They are just getting started and want to play with algorithms. QBraid gives those people an easy programming setup out of the box.”

In a video interview a few hours ahead of Palantir’s earnings, Karp flailed his arms excitedly around as he spoke about the defense tech and AI software company’s results. “These numbers validate we were right. Please learn from us. That’s what these numbers mean,” Karp told Fortune in the interview. 

“These are not normal results. These are not even strong results,” Karp continued later on Monday, during the company’s earnings call. “These aren’t extraordinary results. These are arguably the best results that any software company has ever delivered.”

After soaring roughly 400% over the past year, however, shares of Palantir took a time out on Monday despite the strong results. The stock initially rose after the earnings were released on Monday, according to Bloomberg, but then slid about 3.5% in after-hours trading.

Palantir posted third-quarter revenue of roughly $1.2 billion, up 63% from the year-ago period, and above the average analyst expectation of $1.09 billion, according to Bloomberg. The company’s $476 million in net income, was up 40 percent year-over-year.  While Palantir’s government contracts business remains strong, business from U.S. commercial customers drove the company’s growth in the third quarter, expanding by 121% year-over-year to $397 million.  

Karp described the numbers on Monday’s earnings call as more akin to a venture-backed company than a public one, highlighting the “Rule of Forty” metric in Palantir’s quarterly earnings deck, which is a financial metric calculated by combining the year-over-year revenue growth rate and adjusted operating margin. In general, 40% is considered strong performance. This quarter, Palantir’s “Rule of Forty” was 114%, even higher than its last quarter, which was 94%.

Palantir’s revenue figures are still quite small compared to peers of similar market capitalization. And the company’s rich valuation has stoked skepticism among some investors worried about an AI bubble. Regulatory filings from Monday reveal that Michael Burry, the esteemed short seller known for his big bet against the subprime mortgage market in 2008, has taken out a short position in both Palantir and NVIDIA. Palantir and NVIDIA last week announced that they had struck a partnership, where Palantir will combine NVIDIA chips and software with its tech platform for some of its customers. Palantir said last week that home improvement retailer Lowe’s was already incorporating this into its tech stack, but the software company declined on Monday to share other companies that had rolled that out. 

True to form, Karp delved into a couple touchy subjects on Monday’s earnings call, including the Administration’s recent focus on drug traffickers in South America.

“Let me say something slightly political,” Karp said. “And I’m not saying other people agree with this, but when people are attacking our soldiers for stopping fentanyl from coming into this country, I want people to remember if fentanyl was killing 60,000 Yale grads instead of 60,000 working class people, we’d be dropping a nuclear bomb on whoever was sending it from South America.”

Karp’s shareholder letter from this quarter—his fifteenth musing to shareholders and Palantir enthusiasts—was also biting. In the letter, Karp suggested that there had been a “rejection of any shared and defined sense of common culture, in this nation and others,” and that this “has had significant costs.”

But more than anything, Karp seemed to revel in the numbers themselves—and rubbing them in the faces of those he says have perhaps been too skeptical.

“Some of our detractors have been left in a kind of deranged and self-destructive befuddlement,” he wrote in the letter, before going on to reference a British film director and later the poet William Butler Yeats.

As expected, the Reserve Bank of Australia (RBA) has kept the cash rate steady at 3.6%. Its board unanimously agreed it was better to “remain cautious” on interest rates.

While borrowers may have been hoping for rate relief, the decision came as little surprise to economists and markets, after stronger-than-expected inflation data – something the board’s statement emphasised, along with local and global uncertainty.

“Inflation has fallen substantially since the peak in 2022 […] but more recently, inflation has picked up,” the board noted, describing the September quarter figures released last week as “materially higher than expected”.

For many mortgage holders, this marks another month of frustration. Three rate cuts earlier this year offered some respite, but not enough to offset the sharp rise in interest rates since the tightening cycle began in mid-2022.

There is another RBA meeting in early December. But today’s board statement suggest borrowers have longer to wait for any further relief.

Don’t expect a rate cut soon

Financial markets and the major banks share the RBA’s cautious tone. The big four banks were already expecting the next rate cut in 2026, reflecting their view that inflation will take longer to return comfortably to target.

Market pricing also points to a prolonged pause. Traders have scaled back expectations of near-term easing, and interest rate futures now imply only modest reductions through next year.

Some economists are even warning the RBA might be forced to raise rates, either next year or in 2027.

In short, the era of cheap money isn’t returning quickly.

Inflation still running hot

The latest inflation data released last week showed headline inflation back above the RBA’s 2–3% target band, and the bank’s preferred measure – the trimmed mean – sitting right on the upper edge of that range. Prices are still rising faster than the RBA is comfortable with.

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While prices for some goods, such as furniture and electronics, have eased, costs for housing, insurance, health care and education continue to rise. This persistence explains why the RBA is reluctant to loosen policy.

As the latest board statement put it:

the recent data on inflation suggest that some inflationary pressure may remain in the economy […] Financial conditions have eased since the beginning of the year, but it will take some time to see the full effects of earlier cash rate reductions.

The bank has repeatedly said it needs sustained evidence that inflation is moving towards the midpoint of its target. For now, that evidence is still missing – and today’s decision reinforces that message.

Growth and jobs show resilience

Economic growth remains modest but stronger than expected. The Australian Bureau of Statistics’ gross domestic product figures show the economy grew 1.8% over the year to June 2025 – the strongest result in two years and well above expectations.

Growth continues to be supported by business investment and population gains. Household spending, though soft, hasn’t collapsed despite cost-of-living pressures.

The labour market also remains firm. Unemployment has ticked up but is still low at 4.5% in September.

Ahead of today’s board decision, RBA Governor Michele Bullock also said the jobs market remains “a little tight”, meaning many businesses are struggling to find workers – a factor that keeps upward pressure on wages and prices.

Until the bank sees clearer signs of cooling – such as slower wage growth or a sustained lift in unemployment – it is unlikely to risk cutting rates.

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Bullock has stressed that future moves will depend on the data. With the next quarterly consumer price index data due out in early January, the bank will be watching for clearer signs that inflation in both goods and services is easing.

The bigger picture

Overseas, the US Federal Reserve cut its policy rate at its October 2025 meeting, bringing the target range to 3.75–4.0%. Yet Fed Chair Jerome Powell struck a hawkish tone, warning further cuts aren’t guaranteed and will depend on incoming data.

That cautious stance mirrors the RBA’s own. Both central banks want to avoid declaring victory over inflation too early, especially with ongoing risks from energy prices, supply disruptions and tight labour markets.

With the European Central Bank and Bank of England also adopting a wait-and-see approach, the RBA remains broadly in step with its global peers.

For now, the bank sees more risk in moving too soon than in waiting a little longer. A premature cut could reignite price pressures and undo the progress made since 2023.

For homeowners, that means high borrowing costs are likely to persist for some time yet. It’s a disappointing Melbourne Cup Day for mortgage holders – but for the RBA, caution still wins the race.

At DFA Design for Asia Awards 2025, Canon wins Grand Award for EOS R50 V APS-C mirrorless camera and Silver Award for EOS R1 full-frame mirrorless camera

TOKYO, November 4, 2025—Canon Inc. announced today that it received the Grand Award for its EOS R50 V, an APS-C mirrorless camera, and the Silver Award for its EOS R1, a full-frame mirrorless camera, at DFA Design for Asia Awards 2025 hosted by the Hong Kong Design Centre (HKDC).

The EOS R50 V, which received the Grand Award, is an APS-C mirrorless camera aimed at video creators seeking to broaden their range of visual expressions. Its advanced video shooting capabilities and design optimized for content creation are tailored to meet demand for video recording and livestreaming . The device comes with a smooth grip shape perfect for one-handed selfies or vertical shooting, and allows users to hold the device steadily. Additional features include a tripod screw hole for vertical shooting as well as a new touch-panel UI that automatically adjusts the display orientation based on how the device is held to enable comfortable operability in a variety of shooting scenarios. The viewfinder has been eliminated to achieve a flat and linear design that fits well with video accessories, thereby achieving a design which has been perfectly crafted for video shooting down to the finest detail while appearing simple and stylish.

The Silver Award-winning EOS R1 is a full-frame mirrorless camera intended for professional photographers, and is the first flagship model in the EOS R System series. Thanks to its newly developed image processing system and the use of deep learning technology, it achieves the high level of photographic performance required by professionals. Additionally, its rubber grip features a newly developed cross pattern with a strong grip capability that enhances handling and prevents accidental drops during orientation changes. While inheriting the distinctive silhouette of the first-generation model^*, it incorporates ergonomically designed features and comfortable operability, resulting in a design truly worthy of professional use. The EOS R1 has been widely praised, having received the 2025 Good Design Award (Good Design Best 100) in Japan as well as the Red Dot Design Product Design Award (Best of the Best Award) (Switzerland) and the iF Design Award 2025 (Germany).

Encouraged by the recognition of these awards, Canon will continue striving to create products that expertly blend excellent design with outstanding performance.

About the DFA Design for Asia Awards (www.dfaa.dfaawards.com)

Since 2003, the “DFA Design for Asia Awards” honors design excellence and acknowledges user-centric design projects which embrace the unique Asian perspectives to enhance and improve the quality of life for people in the region. Organized by Hong Kong Design Centre, with Cultural and Creative Industries Development Agency (CCIDA) of the Government of the Hong Kong Special Administrative Region as the Lead Sponsor, as one of the seven DFA Awards programs, the “DFA Design for Asia Awards” has been a platform for design talent and corporates to showcase their design projects internationally.

The Reserve Bank has left the official interest rate on hold after a surprise jump in inflation, in a widely expected decision.

The RBA’s monetary policy board on Tuesday kept the cash rate at 3.6%, where it has sat since August. Economists and banks overwhelmingly expected no change.

The central bank has cut interest rates three times in 2025, easing pressure on mortgage holders and fuelling rapid house price rises.

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Core inflation rose to 3% – the top of the RBA’s preferred range – in September, the first acceleration of the underlying measure since 2022.

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The headline rate rose to 3.2%, including volatile categories such as electricity costs, which rose 9% in the quarter as government energy rebates ended.

The surprise bump in inflation dashed hopes that lower interest rates would be delivered to support the jobs market. Data in late September revealed a surprise increase in unemployment to 4.5%.

Financial markets over the last week have cut back their bets on another interest rate cut being handed down in the next 12 months. Major banks do not expect another cut until next year.

The RBA governor, Michele Bullock, was scheduled to address media on Tuesday afternoon to explain the board’s thinking.

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(Bloomberg) — US stock futures extended losses along with Asian shares as Palantir Technologies Inc.’s earnings and uncertainty over the Federal Reserve’s policy outlook weighed on sentiment.

Contracts for the S&P 500 fell 0.4%. The underlying index posted a modest gain Monday even as more than 300 of its members retreated. Nasdaq 100 futures fell 0.6%, with Palantir declining more than 4% in extended trading on concerns about the company’s lofty valuation after a record run-up. Asian shares dropped 0.4% as the South Korean benchmark lost more than 2%.

A gauge of the dollar extended its gains to a fifth day after the greenback strengthened against all other Group-of-10 currencies, trading at levels last seen in August. The advance has come amid mixed signals from Fed officials, following Chair Jerome Powell’s warning last week that a rate cut in December isn’t a foregone conclusion.

A flurry of central bank officials offered contrasting views on the outlook for further rate cuts, with Chicago Fed President Austan Goolsbee saying he’s more concerned about inflation than the job market. Even as US factory activity contracted for an eighth straight month in October, global stocks hovered near record highs, driven by technology heavyweights and stoking calls for broader-market consolidation.

“It’s the Fed again,” said Anna Wu, a cross-asset strategist at Van Eck. “The inflation comment startled the markets and weighed on sentiment.”

Economists and policymakers are relying more on private reports such as the ISM survey for clues on the economy and job market in the absence of official data because of the US government shutdown. Friday’s scheduled employment report is also poised to be delayed as a result.

The Institute for Supply Management’s manufacturing index eased 0.4 point to 48.7, according to data released Monday. Readings below 50 indicate contraction, and the measure has been stuck in a narrow range for most of this year.

“With US data softening and Fed officials keeping policy optionality alive, investors are reassessing positioning rather than chasing risk,” said Billy Leung, an investment strategist at Global X Management.

Gold edged lower for a third consecutive session. Treasuries steadied, while oil fell as the market weighed OPEC+’s decision to pause output hikes.

Meanwhile, Fed Governor Lisa Cook said she sees the risk of further labor-market weakness as greater than the chance that inflation will pick up. She stopped short of endorsing another interest-rate cut next month.

“Looking ahead, policy is not on a predetermined path,” Cook said. “We are at a moment when risks to both sides of the dual mandate are elevated. Every meeting, including December’s, is a live meeting.”

Her comments echoed remarks from her colleagues who were equally noncommittal about whether the central bank should deliver a third straight rate reduction when policymakers convene in December.

San Francisco Fed President Mary Daly said officials should “keep an open mind” about the possibility of a December cut. Governor Stephen Miran noted policy remains restrictive.

Elsewhere, shares in Australia fell ahead of a central bank rate decision later Tuesday, when policymakers are expected to stand pat.

Back to Palantir, the company raised its annual revenue outlook to $4.4 billion and outpaced analyst estimates for third-quarter sales.

Investors have sent the firm’s shares up more than 150% so far this year, closing Monday at a record $207.18. The company had a price-to-sales ratio of 85 as of Friday — the highest in the S&P 500 Index.

Mandeep Singh, senior analyst at Bloomberg Intelligence, said that investors likely wanted more guidance about the following year.

Palantir gave a forecast for the current quarter, Singh said, but “I think everyone wanted some sense of 2026.”

Corporate Highlights:

Starbucks Corp. is selling a majority stake in its China unit to private equity firm Boyu Capital for $4 billion to help accelerate its coffeehouse business in the country. Grab Holdings Ltd. raised its earnings forecast for the year after quarterly profit topped estimates, signaling robust demand for the Southeast Asian ride-hailing and food delivery firm’s new products. Netflix Inc. is in talks to license video podcasts distributed by iHeartMedia Inc. as it looks to compete head on with YouTube, according to people familiar with the conversations.

Some of the main moves in markets:

Stocks

S&P 500 futures fell 0.4% as of 12:01 p.m. Tokyo time Japan’s Topix rose 0.4% Australia’s S&P/ASX 200 fell 0.9% Hong Kong’s Hang Seng rose 0.2% The Shanghai Composite fell 0.1% Euro Stoxx 50 futures fell 0.2% Currencies

The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1513 The Japanese yen was little changed at 154.10 per dollar The offshore yuan was little changed at 7.1271 per dollar Cryptocurrencies

Bitcoin fell 0.3% to $106,566.26 Ether rose 1% to $3,638.41 Bonds

The yield on 10-year Treasuries was little changed at 4.10% Japan’s 10-year yield advanced two basis points to 1.675% Australia’s 10-year yield advanced one basis point to 4.35% Commodities

West Texas Intermediate crude fell 0.3% to $60.87 a barrel Spot gold fell 0.3% to $3,988.85 an ounce This story was produced with the assistance of Bloomberg Automation.

–With assistance from Abhishek Vishnoi and Winnie Hsu.

©2025 Bloomberg L.P.