By Katherine Hamilton
Quantum Computing shares climbed Tuesday morning after the company said it was awarded a contract with NASA to push forward quantum optimization at the national space agency.
Shares gained 27% to $14.05. The stock is up nearly 2,000% over the last three months.
Through the agreement, Quantum will apply its Dirac-3 product, which is an entropy quantum optimization machine, to support NASA's imagining and data processing. Dirac-3 reconstructs images and extracts information from interferometric data, which will ultimately enhance data quality and accuracy for NASA, Quantum said.
The technology company said the contract will help showcase Quantum's capabilities. If successful, the project is expected to have long-term benefits for NASA, Quantum said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 17, 2024 10:16 ET (15:16 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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