Dive Brief:

• Intel is investing $50 million to help develop quantum computers — machines that could solve problems beyond the reach of today’s computers.

• The company also signed on for a 10-year collaboration with QuTech, an institute in the Netherlands formed by Delft University of Technology and the Dutch Organization for Applied Research.

• Intel said it will also dedicate its own engineering resources to the project.

Dive Insight:

Scientists have been attempting to apply quantum physics to computing for years because it could allow computers to conduct more calculations much faster than today’s fastest computers. 

"We came to the realization that the rate of progress was limited by some things we thought Intel could add value to," said Mike Mayberry, an Intel vice president.

Quantum technology could be used on complex problems current computers simply can’t handle. "There are many materials that are too complex for an ordinary computer to help us understand their properties," said Lieven Vandersypen, a lead scientist at QuTech.

With the recent declines in PC sales, chipmakers like Intel have been looking for different areas to focus on to ensure future profits. Earlier this week, the Intel announced it is revamping its flagship line of computer chips with Skylake chips.