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Why Is D-Wave Quantum Stock Surging On Wednesday?

Benzinga ·  Jan 15 17:48

D-Wave Quantum Inc. (NYSE:QBTS) shares traded higher on Wednesday after Microsoft issued a statement to its business customers to get "quantum ready" and Nvidia announced its first-ever quantum day event.

D-Wave Quantum has not been the only company to see significant gains; other companies, like Quantum Computing Inc., have also experienced significant gains. This surge underscores the growing anticipation and investment in quantum computing technologies.

Apart from this, today, D-Wave partnered with Carahsoft Technology Corp.

As per the deal, Carahsoft will serve as D-Wave's Master Government Aggregator. Notably, D-Wave and Carahsoft will jointly promote D-Wave's quantum solutions to the Public Sector via Carahsoft's reseller network.

These offerings include real-time access to D-Wave's Advantage quantum systems through the Leap cloud platform, workforce training to enhance Public Sector skills, and expert support from D-Wave's professional services team to develop tailored applications for specific government use cases.

This partnership will make D-Wave's cutting-edge quantum computing technologies available to the Public Sector through its reseller network and various procurement contracts.

D-Wave technologies enable the development of quantum and hybrid applications that address key Public Sector priorities, such as national defense, intelligence, emergency management and energy resilience.

Last week, D-Wave Quantum said it expects booking to exceed $23 million, marking a 120% increase over fiscal year 2023.

Additionally, D-Wave disclosed that its fiscal fourth-quarter 2024 bookings will reach at least $18 million, a staggering 500% increase over the same period last year.

Price Action: QBTS shares are up 14.2% at $5.402 at the last check Wednesday.

  • NVIDIA Announces First-Ever Quantum Day At GTC 2025, Days After Jensen Huang Said Quantum Computing Is 20 Years Away

Photo via Shutterstock.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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