D-Wave Systems Inc. (QBTS) stock surged 5.12% in pre-market trading on Thursday, riding the wave of investor excitement around the quantum computing sector.
The quantum computing industry has seen explosive growth in 2024, with stocks like Quantum Computing (QUBT) and Rigetti Computing (RGTI) skyrocketing over 1,600%. Alphabet's revelation of its "Willow" quantum chip, capable of tackling complex problems in minutes, has been a major catalyst for the sector.
Investor interest in quantum computing has been further bolstered by government contracts and practical applications. However, much of the frenzy remains speculative, as traders rush to capitalize on the technology's potential, driving volatility in stock prices.