Shares of WiMi Hologram Cloud Inc. (NASDAQ:WIMI) are continuing higher after the company recefntly announced a new development in quantum computing technology Thursday.

What To Know: WiMi introduced a Quantum Technology-Based Random Access Memory architecture designed to improve data processing efficiency in quantum systems.

The system incorporates quantum logic gates, including the CNOT gate, V gate and V+ gate, to perform basic logical operations necessary for building quantum circuits.

The architecture integrates with quantum processing units, enabling data transmission between memory and processors.

The rise in WiMi's stock price potentially reflects investor interest in the potential impact of the QRAM technology, particularly in fields where quantum computing is expected to play a major role. The announcement highlights WiMi's efforts to position itself in the growing quantum computing industry.

WIMI Price Action: WiMi Hologram Cloud shares were up 70.5% at $2.20 at the time of writing, according to Benzinga Pro.

• Johnson & Johnson Death Cross: Stock Stumbles Despite Pipeline Promise

Image Via shutterstock.