Quantum computing stocks pushed on with their run in premarket trading Thursday after gaining steam Wednesday. The good news comes as industry leaders highlight quantum computing advancements and potential growth prospects in the sector.
Quantum Computing Inc. (QUBT, Financial) shares jumped 15.5%, while Rigetti Computing Inc. (RGTI, Financial) advanced 3.4%, D-Wave Quantum Inc. (QBTS, Financial) gaining 9.6% and IonQ Inc. (IONQ, Financial) rising 1.9%. It reflects a growing interest by investors, spurred by the growing corporate commitment to quantum technologies.
However, Microsoft Corp. (MSFT, Financial) has been the sector’s biggest cheerleader. In the case of Mitra Azizirad, COO of Microsoft’s strategic missions and technology division: from 2020, talk will be of businesses moving to become the familiar ‘quantum-ready’ by 2025. This push is backed up by Nvidia Corp. (NVDA, Financial), which announced that it will host a Quantum Day’ at its upcoming GTC conference and is committing to integrate quantum computing within classical systems.
Despite some industry sceptics like Nvidia CEO Jensen Huang, who estimates practical quantum computing is still a couple of decades away, companies are proactively creating the work environments that will make it happen. Microsoft has programs for businesses to help tackle this technological evolution, and Nvidia is now recruiting for roles in quantum research.
Since Google broke onto the quantum scene with its Willow quantum chip, the quantum sector has also come under the microscope. Companies in this developing quantum era are positioning themselves for long-term growth and are being watched closely by investors and analysts alike.
This article first appeared on GuruFocus.
