Quantum Computing Inc. (QUBT) stock surged 5.40% in pre-market trading on Thursday as the broader quantum computing sector rallied following Microsoft's announcement of its first quantum computing chip.
Microsoft unveiled its Majorana 1 chip, harnessing 8 qubits (quantum bits) on a sticky-note-sized piece of hardware that the company says could eventually host 1 million qubits. While the current chip has limited capabilities, Microsoft's engineers believe it marks a major step towards building practical quantum computers that can solve complex problems beyond the reach of traditional computers.
The news fueled a rally in quantum computing stocks, with Quantum Computing Inc. and several peers like SEALSQ, Rigetti Computing, and Arqit Quantum seeing significant pre-market gains. Investors are betting that breakthroughs in quantum computing technology could drive future growth and revenues for companies in this emerging field.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.