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Quantum Computing Stocks Soar Wednesday as D-Wave Claims Breakthrough
Key Takeaways
D-Wave Quantum ( QBTS ) shares popped Wednesday, along with other quantum computing stocks, after the company claimed to achieve a breakthrough.
In an article published in the journal Science, D-Wave said its quantum computer “outperformed one of the world’s most powerful classical supercomputers” at solving complex simulation problems.
D-Wave shares were up 10% in recent trading, while shares of fellow quantum computing firms Rigetti Computing ( RGTI ) and Quantum Computing ( QUBT ) also gained.
Quantum computing developments have been in the spotlight in recent months, with Google parent Alphabet ( GOOGL ) unveiling a quantum chip known as Willow in December. Microsoft ( MSFT ) followed suit last month with its own quantum chip, Majorana 1 .
However, Nvidia ( NVDA ) CEO Jensen Huang recently cautioned it could be 15 to 30 years before there are "very useful quantum computers.” Meta’s ( META ) Mark Zuckerberg has expressed similar concerns .
Despite a tough start to the year, D-Wave shares have nearly tripled in value over the past 12 months. Rigetti and Quantum Computing shares more than quadrupled in value over the same period.
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