Quantum Computing Inc. (QUBT) saw its stock surge 6.96% in pre-market trading on Friday, outperforming the broader market. The rally was driven by investor optimism surrounding the growth prospects of the quantum computing sector amid increasing competition among tech giants for dominance in artificial intelligence (AI) and advanced computing technologies.
The optimism was fueled by reports of the U.S. government's plans to impose further restrictions on the export of AI chips. While these restrictions could pose challenges for some companies, they also highlighted the strategic importance of quantum computing and AI technologies, further driving investor interest in the sector.
Additionally, Nvidia CEO Jensen Huang's comments on the potential of quantum computing, despite his assertion that practical applications are still years away, also contributed to the bullish sentiment. Investors seemed to focus on the long-term growth opportunities in the quantum computing industry, rather than being deterred by Huang's cautionary remarks.
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