Mentioned:
Quantum Computing Inc is getting closer to being a leader in photonic chip manufacturing.
What’s happening:
- Quantum Computing Inc (NASDAQ: QUBT) has landed their first order for their thin film lithium niobate photonic chips from a research and technology institute located in Asia
Why it matters:
- The new deal marks the beginning of ramping up sales for Quantum Computing Inc’s photonic chips which have multiple innovative applications across quantum computing, high performance computing, artificial intelligence and cybersecurity
Going deeper:
- Thin film lithium niobate photonic chips have unique capabilities for enabling ultra high bandwidth data transmission for use in data centres as well as being significantly more energy efficient than silicon photonics
- Quantum Computing Inc is currently building out the first of its kind semiconductor foundry based in the United States of America, which is now nearing completion and will dramatically scale up their production capabilities once fully operational
Market reaction:
- Shares of Quantum Computing Inc soared +92% following the announcement
