Mentioned:
GOOG -0.89% IONQ -13.52% RGTI -14.53% BTQ -15.53% IBM -5.60%
The public markets have recently become obsessed with quantum computing companies. But, why?
What’s happening:
- Multiple quantum computing companies have recently announced major technological breakthroughs, which has fuelled a significant inflow of new capital and a rapid rise in the share price of many publicly traded quantum computing companies
Why it matters:
- Quantum computing has long been seen as one of the most promising new frontiers of technology alongside of artificial intelligence, largely due to the potential for quantum computing to solve highly technical and complex problems that are essential for making breakthroughs in areas such as drug discovery and financial markets
- Google (NASDAQ: GOOG) unveiling their innovative new quantum computing chip Willow set off a wave of euphoria throughout Wall Street, as it represented one of the largest technological breakthroughs in the history of quantum computers
Who is making moves:
- IonQ (NYSE: IONQ) and Oak Ridge National Laboratory just recently announced a new breakthrough for an entirely new method of scalable quantum computing which is based on IonQ’s trapped-ion technology
- Rigetti Computing (NASDAQ: RGTI) recently launched their newest quantum computer Ankaa-3 which will soon be available through cloud computing platforms such as Amazon Braket and Microsoft Azure
- IBM (NYSE: IBM) announced that they will establish a National Quantum Algorithm Centre in Chicago as part of an existing collaboration with the Illinois government to accelerate quantum computing technology in the United States of America
Going deeper:
- Canadian publicly listed quantum computing company BTQ Technologies (CBOE: BTQ) also just recently raised a fresh round of financing for accelerating their technology around post quantum cryptography
