Stock Track | Quantum Computing Inc. Soars 39.44% on NASA Contract Award and Google's Quantum Breakthrough

Stock Track
17 Dec 2024

Shares of Quantum Computing Inc. (QUBT) soared an impressive 39.44% on Tuesday, fueled by renewed investor optimism in the quantum computing sector following Google's groundbreaking advancement and the company's recent contract win with NASA.

The surge was primarily driven by two key developments: 1) Google unveiled its new Willow quantum chip, capable of performing a standard benchmark computation in under five minutes – a task that would take one of today's fastest supercomputers an astounding 10 septillion (10^25) years. This breakthrough has reignited investor interest in the quantum computing industry, with companies like Quantum Computing Inc. at the forefront of developing these transformative technologies. 2) Quantum Computing Inc. announced that it has been awarded a prime contract by NASA's Goddard Space Flight Center to apply its Dirac-3 quantum optimization technology for image reconstruction and data analysis. The company will use Dirac-3 to address the phase unwrapping problem in radar-generated interferometric data, aiming to improve image quality and data accuracy for NASA.

With the United Nations designating 2025 as the International Year of Quantum Science and Technology, public awareness and investment in quantum technologies are expected to increase further. Analysts believe that advancements in quantum computing could unlock significant opportunities across various industries, from healthcare breakthroughs to clean energy solutions.

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