Discussions surrounding quantum computing have intensified since Google (owned by Alphabet Inc., NASDAQ: GOOG, GOOGL) unveiled its next-generation quantum chip, “Willow.” This breakthrough has sparked renewed interest in stocks tied to quantum computing technologies.
What Happened?
The shares of Quantum Computing Inc. (NASDAQ: QUBT), a company specializing in quantum computing solutions, have skyrocketed by 157% since Google’s announcement. This surge propelled QUBT’s stock to levels not seen since June 2010, closing at $19.14 on Thursday. At its peak in December 2018, the stock reached a multi-year high of $25.68.
This performance not only outpaced the tech-heavy “Magnificent Seven” stocks but also surpassed the strong rally seen in MicroStrategy Inc. (NASDAQ: MSTR).
Why It Matters
Google’s Willow quantum chip is a game-changer in the computing world. Capable of completing benchmark computations in under five minutes—tasks that would take the fastest supercomputers essentially an eternity—Willow represents a significant leap in quantum computing capabilities. This innovation is paving the way for practical applications in drug discovery, energy systems, and other advanced fields.
Adding to the excitement, Quantum Computing Inc. secured a major contract with NASA to advance image and data processing technologies, further boosting its stock value.
However, not all market sectors reacted positively. Bitcoin (CRYPTO: BTC), the world’s largest cryptocurrency, fell 3.6% following the announcement. Concerns over quantum computing’s potential to break cryptographic algorithms have raised alarms, despite experts debating the immediacy of the threat. A study suggested that Bitcoin’s network would require over 300 days of downtime to protect itself against quantum computing risks.
Market Movement
On Thursday, Quantum Computing Inc. (QUBT) closed up 12.6% at $19.14, continuing its upward trajectory. Meanwhile, Bitcoin rebounded slightly, trading up 1.3% at $97,001.92 at the time of publication.
Conclusion
Google’s Willow quantum chip launch highlights the growing potential of quantum computing in revolutionizing industries and reshaping the investment landscape. While companies like Quantum Computing Inc. experience rapid stock gains, concerns over its implications on cybersecurity and blockchain technologies remain an area of active debate.
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News Source:Benzinga Insights，This article does not represent our position.
