D-Wave Systems Inc. (QBTS), a pioneer in the quantum computing field, saw its stock soar 27.46% in intraday trading on Monday. The rally was driven by growing investor optimism about the potential of quantum computing to revolutionize various industries, including artificial intelligence, healthcare, and energy storage.
Recent breakthroughs in quantum computing technology, such as Google's unveiling of its latest quantum processor "Willow," have fueled investor enthusiasm for companies operating in this space. Willow reportedly solved a complex calculation in just five minutes – a task that would have taken the world's fastest classical supercomputer around 10 septillion years to complete.
Wall Street analysts have also started taking note of quantum computing companies, with several firms initiating coverage with bullish ratings and price targets. This has further driven investor interest in the sector, as experts believe quantum computing could potentially be more revolutionary for humankind than the discovery of fire or the invention of the wheel.
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