Quantum Computing Inc. (QUBT) saw its stock price surge 10.76% in pre-market trading on Monday, as part of a broader rally among quantum computing companies. This upswing comes on the heels of a sector-wide tumble last week, triggered by underwhelming reactions to Nvidia's 'Quantum Day' event.
The quantum computing sector is experiencing a significant rebound, with several companies seeing substantial gains. Arqit Quantum led the pack with a 15% increase, followed by IONQ at 12%, and Quantum Computing Inc. at 10.76%. Other notable risers included D-Wave Quantum, Rigetti Computing, and SEALSQ, with gains ranging from 5% to 9%.
This recovery follows a challenging period for quantum computing stocks after Nvidia's recent conference. During the event, Nvidia CEO Jensen Huang's comments about the timeline for "useful" quantum computers and his surprise at public companies in the sector raised concerns about near-term revenue generation for smaller quantum technology firms. However, today's rally suggests that investors are regaining confidence in the long-term potential of quantum computing, despite the technological and commercial challenges ahead.
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