Quantum Computing Inc.'s stock surged 12.01% in the intraday trading session on Thursday, outperforming the broader market. The rally came as investors remained bullish on the prospects of the quantum computing sector amid growing competition among tech giants for dominance in artificial intelligence (AI) and advanced computing technologies.
The optimism surrounding Quantum Computing Inc. and its peers was fueled by Nvidia CEO Jensen Huang's comments on the potential of quantum computing, despite his assertion that practical applications are still years away. While Huang's remarks were viewed as a reality check by some analysts, investors seemed to focus on the long-term growth opportunities in the quantum computing industry.
Additionally, reports of the U.S. government's plans to impose further restrictions on the export of AI chips intensified the race among tech giants to secure their positions in the AI and advanced computing markets. While these restrictions could pose challenges for some companies, they also highlighted the strategic importance of quantum computing and AI technologies, further driving investor interest in the sector.
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