D-Wave Systems Inc. (QBTS), a prominent player in the quantum computing industry, witnessed a pre-market surge of 5.13% on Thursday, reflecting the market's enthusiasm for the emerging quantum technology.
The stock's upward momentum can be attributed to the recent announcement by Google-parent Alphabet (GOOGL) regarding its new Willow quantum computing chip, which has reignited investor interest in the sector. Quantum computing stocks, including Rigetti Computing (RGTI) and Quantum Computing Inc. (QUBT), have experienced a significant rally following the news.
While the progress in quantum computing technology is undoubtedly exciting, experts caution that practical and commercially viable applications are still years away. The current market reaction is fueled by speculation and the potential for quantum computing to revolutionize various industries, such as cryptography, optimizations, and complex simulations.
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