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Key Takeaways
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D-Wave and other quantum computing stocks soared Wednesday after the company claimed to achieve a breakthrough.
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D-Wave said its quantum computer outperformed one of the world's most powerful classical supercomputers.
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Despite a tough start to the year, D-Wave shares have nearly tripled in value over the past 12 months.
D-Wave Quantum (QBTS) shares popped Wednesday, along with other quantum computing stocks, after the company claimed to achieve a breakthrough.
In an article published in the journal Science, D-Wave said its quantum computer “outperformed one of the world’s most powerful classical supercomputers” at solving complex simulation problems.
D-Wave shares were up 10% in recent trading, while shares of fellow quantum computing firms Rigetti Computing (RGTI) and Quantum Computing (QUBT) also gained.
Quantum computing developments have been in the spotlight in recent months, with Google parent Alphabet (GOOGL) unveiling a quantum chip known as Willow in December. Microsoft (MSFT) followed suit last month with its own quantum chip, Majorana 1.
However, Nvidia (NVDA) CEO Jensen Huang recently cautioned it could be 15 to 30 years before there are "very useful quantum computers.” Meta’s (META) Mark Zuckerberg has expressed similar concerns.
Despite a tough start to the year, D-Wave shares have nearly tripled in value over the past 12 months. Rigetti and Quantum Computing shares more than quadrupled in value over the same period.
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