BTGOF - Toshiba eyes $3B in quantum cryptography revenue by 2030

Toshiba (TOSYY) is expecting to draw $3B in revenues from its quantum cryptography operations by 2030, it says. Its work on quantum key distribution (using quantum physics to generate cryptographic keys for remote parties) looks to tap a global market the company expects to grow to $12B in 10 years, alongside the development of quantum computers that would be better able to crack conventional math-based keys. It's teamed up with Verizon (VZ) in the U.S. and BT Group (BTGOF) in the UK to pilot quantum key distribution projects. The conglomerate has implemented a set of restructuring steps to find future growth drivers since a crisis from the bankruptcy of the U.S. nuclear power business in 2017, and it's focusing more on public infrastructure projects more resilient in the COVID-19 crisis. (China for one is aggressively expanding infrastructure for QKD.)

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Toshiba eyes $3B in quantum cryptography revenue by 2030