Why D-Wave Quantum Inc. (QBTS) Soared Today
D-Wave Quantum surged by 23.96 percent on Thursday to finish at $19.04 apiece, as investors continued to gobble up shares following the launch of a new quantum computer, which is said to be capable of solving problems beyond the capabilities of a classical GPU-based supercomputer.
Called the Advantage2, it is said to be capable of addressing real-world use cases in areas such as optimization, materials simulation, and artificial intelligence (AI).
A modern computer datacenter, running an advanced quantum computer system.
'[The launch] marks a significant milestone not just for D-Wave, but for the quantum computing industry as a whole, as we bring to market our sixth-generation quantum computer, a system so powerful that it can solve hard problems outside the reach of one of the world's largest exascale GPU-based classical supercomputers,' said D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz.
Customers are now able to access the Advantage2 system through the company's LeapTM real-time quantum cloud service, which is available in more than 40 countries and offers 99.9 percent availability and uptime, sub-second response times, and SOC 2 Type 2 compliance to meet enterprise needs and security requirements.
Overall, QBTS ranks 5th on our list of stocks that soared today. While we acknowledge the potential of QBTS, 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 AI stock that is more promising than QBTS and has 10,000% upside potential, check out our report about this cheapest 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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