Quantum Computing stocks jumped on Wednesday. Shares of Quantum Computing (QMCO), Rigetti Computing (RGTI), and Quantum Computing (QUBT) rose 25%, 6%, and 5% respectively.

Recently, quantum computing has become a hot topic, with top U.S. quantum computing stocks seeing their prices double. Last week was particularly notable, with Rigetti Computing surging 23%, D-Wave Quantum up 79%, Quantum Computing up 97%, and Quantum Corporation skyrocketing by 178%.

From November to the close of U.S. markets on Tuesday, the gains were even more dramatic: Quantum Computing surged 494%, Quantum Corporation soared 300%, D-Wave Quantum climbed 155%, and Rigetti Computing rose 67%.

Positive news continues to flow in for the quantum computing industry, with a series of favorable developments driving the sector forward.

A major catalyst is the increased investment and application expansion in quantum computing technology by tech giants.

On Friday, Amazon’s cloud computing platform AWS announced the launch of the Quantum Embark program, aimed at helping enterprises prepare for the quantum computing era. Led by Amazon Lab, the program features three standard modules: use-case discovery, technical enablement, and in-depth analysis.

Amazon isn’t alone in this race. Other tech giants are stepping up. On November 19, Nvidia announced a collaboration with Google Quantum AI, “Google Quantum AI.” According to NVIDIA, Google can now use the CUDA-Q platform to simulate quantum devices on Eos, NVIDIA's supercomputer, utilizing 1,024 Hopper Tensor Core GPUs at a remarkably low cost to achieve the world's largest and fastest quantum device simulations.

Meanwhile, strong corporate earnings are also bolstering market confidence in the quantum computing sector.

IonQ exceeded revenue expectations. On November 6, the leading ion-trap quantum computing company reported better-than-expected Q3 revenue and raised its guidance. IonQ also unveiled several new partnerships, including integrating quantum computing into billion-dollar CAE operations with Ansys, collaborating with Hamamatsu Photonics subsidiary NKT Photonics to procure next-generation laser systems for trapped-ion quantum computers and networking devices, and providing quantum solutions to clients like Airbus and Hyundai.

Quantum Corp surpassed its breakeven point. According to its latest financial report, the company achieved adjusted EBITDA breakeven in Q2, with non-GAAP operating expenses reduced by 9%.

Additionally, Rigetti Computing successfully raised $100 million. On November 25, Rigetti announced the completion of its $100 million stock offering plan.