The "OpenAI moment" of quantum computing? Companies like Quantum Computing (QUBT.US) are highly sought after by investors.
17/12/2024
GMT Eight
Noticed that, despite the lack of commercialization, Quantum Computing (QUBT.US) led the quantum stocks on Monday as the market's enthusiasm for quantum computing technology continues to grow.
At close, Quantum Computing's stock price surged 68%. In just the past month, its stock price has risen by about 370%.
D-Wave Quantum (QBTS.US) rose by over 45%, with its market value increasing by over 400% in the past month. Rigetti Computing (RGTI.US) has risen at an astonishing rate of over 630% in the last 30 days.
Due to Morgan Stanley raising the target price for IonQ Inc (IONQ.US), the company's stock price surged nearly 24% in Monday's trading.
Morgan Stanley analyst Joseph Moore stated in an investor report on Monday, "We cannot identify a specific catalyst for the appreciation of stocks in this area during this time, but we do see continued signs that investment in quantum will continue to grow rapidly." "Recently, US Congress introduced a bill authorizing the federal government to provide $2.7 billion in funding for quantum technology."
Morgan Stanley raised IonQ's target price from $14.90 to over $37, but emphasized in their recent announcement "the potential impact of the technology, rather than actual short-term appreciation. We do expect this to unfold in the coming years."
Moore added, "Clearly, the market is enthusiastic about the potential of quantum technology to participate in a $200 billion AI TAM by 2026, although we believe this is still uncertain."
US Senator Maria Cantwell (Washington State Democrat) stated, "Advancements in quantum science and technology will change the game. Quantum applications in sensing, computing, and communication fields will reshape our future, from breakthroughs in healthcare to solutions from Clean Energy Fuels Corp."
Other recent announcements in the quantum computing field include Amazon.com, Inc.'s launch of Quantum Embark, designed to help customers prepare for the quantum computing era, which is an emerging field that harnesses the power of quantum mechanics.
After Alphabet Inc. Class C announced the significant quantum chip Willow last week, quantum computing stocks have been highly anticipated. Bank of America Corp analysts noted that while applications of quantum computing are still in the early stages, Willow's release has had a significant impact on market sentiment.