Why D-Wave Quantum Inc. (QBTS) Soared On Friday
D-Wave Quantum grew its share prices by 13.05 percent on Friday to finish at $18.62 apiece as investors resumed buying following news that its new quantum computer, said to be capable of solving problems beyond the capabilities of a classical GPU-based supercomputer, is now generally available in the market.
Called the Advantage2, the new quantum computer features a 4,400+ qubit processor with improved coherence and connectivity. It targets real-world applications in optimization, materials simulation, and AI, and features a 75 percent reduction in noise and a 40 percent energy scale increase over the predecessor Advantage(TM) quantum system.
A modern computer datacenter, running an advanced quantum computer system.
In other news, D-Wave Quantum Inc. (NYSE:QBTS) recently raised $95.8 million from the issuance of warrants.
Under the transaction, approximately 8.33 million warrants were exercised at a price of $11.50 apiece.
The warrants were assumed by D-Wave Quantum Inc. (NYSE:QBTS) in connection with its merger with DPCM Capital Inc., which was completed on August 5, 2022.
Overall, QBTS ranks 6th on our list of Friday's best-performing stocks. While we acknowledge the potential of QBTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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