D-Wave Systems Inc. (QBTS) saw its stock surge 10% in pre-market trading on Friday, riding a wave of enthusiasm surrounding quantum computing technology. The pre-market rally comes amid a broader surge in quantum computing stocks, fueled by a series of positive developments in the industry.
Quantum computing stocks have been on fire in recent weeks, with shares of D-Wave Systems Inc. skyrocketing over 1025% year-to-date. This reflects investors' excitement about the potential of quantum computing to solve complex problems far beyond the capabilities of classical computers.
Several milestones in the quantum computing space have contributed to the upward momentum. Earlier this month, Alphabet's Google unveiled a quantum computing chip called "Willow" - capable of handling complex calculations in a span of five minutes, while the world's most powerful supercomputers would need 10 septillion years. Amazon Web Services also announced its Quantum Embark Program, further bolstering the sector.
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