Why are shares of Quantum Computing ARQQ, IONQ, QUBT soaring today?

"stock of quantum computers" - Why are shares of Quantum Computing ARQQ, IONQ, QUBT rising today?

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Quantum computer shares are surging on major news from an industry leader. Semiconductor manufacturer Nvidia (NASDAQ:NVDA extension) today announced a significant breakthrough. With Rolls-Royce (OTCMKTS:RICEY) and innovator of quantum computing Classiq, the company has achieved something that is going to revolutionize the efficiency of jet engines. Nvidia said the following in a May 21 statement:

“Using NVIDIA’s quantum computing platform, the companies designed and simulated the world’s largest quantum computing circuit for computational fluid dynamics (CFD), a circuit measuring 10 million layers deep with 39 qubits. Using GPUs, Rolls-Royce is preparing for a quantum future despite the limitations of today’s quantum computers, which only support circuits a few layers deep.”

This news came out over the weekend, but so far this week has helped spur a rally for quantum computer stocks. NVDA isn’t growing right now, but its announcement has pushed many of its peers to go green. In addition, other positive developments have helped generate further momentum for the sector.

What’s happening with Quantum Computing stock

As impressive as its recent breakthrough is, Nvidia has been on a downward trend throughout the day, although it still remains in the green for the week. For other quantum computer titles, however, it’s been a smooth ride to the top. Things got much better for ionQ (NYSE:IONQ extension), which has increased by about 40% in the last five days. Last week, it announced that its powerful IonQ Aria computer would be available through the Amazonia (NASDAQ:AMZ extension) Quantum computing service bracket, sending shares.

Quantum Computing (NASDAQ:QUBT extension) also signaled a positive catalyst recently. The penny stock hasn’t enjoyed the same kind of growth as IonQ, but it has two reasons to celebrate. Aside from the rally in quantum computer stocks, the company has received a follow-up work order to continue supporting NASA in remote sensing and climate change monitoring. Quantum Computing has high hopes for its work in this field. As Chief Technology Officer Dr. William McGann says:

“Our current prototype systems have shown outstanding performance in both prediction and pattern recognition, demonstrating good potential for sunlight noise removal. Through this project, we hope to demonstrate the concept and develop a roadmap for future large-scale deployment to help NASA and many other potential customers.”

This was also a good day for Arqit Quantum (NASDAQ:ARQQ), which was up 2% for the day. Like its penny stock peer QBUT, this company has spent the past week on a steady rise as investor enthusiasm for quantum computing stocks continues to grow. This could be a game-changer for the industry, especially as Nvidia continues its quest for market dominance. The company is already making significant advances in artificial intelligence (AI) tender, giving investors the kind of exposure they need. Now it’s reminding everyone that it should also be considered a leader among quantum computer stocks. As it rises, smaller-cap companies can easily track it, as IONQ and QUBT demonstrated this week.

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As of the date of publication, Samuel O’Brient did not hold (directly or indirectly) any positions in the securities referenced in this article. Opinions expressed in this article are those of the writer, subject to InvestorPlace.com posting guidelines.

Samuel O’Brient has been covering financial markets and analyzing economic policy for more than three years. His areas of expertise include electric vehicle (EV) inventories, green energy and NFTs. O’Brient loves helping everyone understand the intricacies of the economy. He is ranked in the top 15% of stock pickers on TipRanks.

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