Following Tuesday's 51% increase following its major contract win with NASA, Quantum Computing (QUBT, Financial) stock is up 33% early trading on Wednesday. The NASA agreement calls for the Dirac-3, an entropy quantum optimizer machine from Quantum Computing to handle agency advanced imaging and data processing requirements. Reflecting rising investor interest in the sector's promise, Quantum Computing's stock has surged over 150% since Friday and upwards of 500% since mid-November. The quantum computing sector has been on fire on the back of multiple developments.

Recently, Alphabet (GOOGL, Financial) unveiled its "Willow" quantum processor, which performs computations surpassing those of conventional supercomputers Advancing its Azure Quantum platform and including quantum technology into its cloud services is Microsoft (MSFT, Financial). Additionally benefiting IonQ (IONQ, Financial) are technological developments and cooperative efforts.

From scientific research to data processing, these advances highlight increasing investor confidence in the transforming uses of quantum computing in a variety of fields. By stretching computational limits and forming major alliances, companies in the field continue drawing interest.