Quantum computing stocks popped on Tuesday as the Nasdaq composite also climbed as investors mulled President Donald Trump’s first moves, including an executive order that eased artificial intelligence regulation.
Many tech industry pundits expect long-range synergy between artificial intelligence, which requires enormous computing power, and quantum computing.
Trump on Monday canceled the Biden administration’s 2023 executive order that required companies developing advanced AI models to share information with the U.S. government. The Nasdaq gained about 55% during the Biden administration.
On the stock market today, D-Wave Quantum (QBTS) popped more than 17% to 6.18.
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What Is A Quantum Computer?
Quantum Computing Stocks Climb
Shares of Rigetti Computing (RGTI) soared more than 36% to 13.40. IonQ (IONQ) stock advanced more than 14% to 44.65 while Quantum Computing (QUBT) advanced over 15% to 11.33.
All the big cloud computing services, including Amazon.com (AMZN) and Alphabet‘s (GOOGL) Google, rent out access to quantum computing services, primarily to researchers.
Quantum computing stocks fell in early January after Nvidia (NVDA) Chief Executive Jensen Huang claimed the technology is far off from commercial usage. Huang said that the technology won’t be “very useful” for 15 to 30 years.
Quantum computing would pose serious competition to Nvidia in processing artificial intelligence workloads. Nvidia is the dominant supplier of AI chips but also is developing quantum technology.
Also, quantum stocks rallied in December after Alphabet’s Google announced the Willow quantum computing chip. Google has been a leader in quantum research.
Advances in quantum computing are expected to surpass today’s electronic-chip-based supercomputers. Quantum computing works on a subatomic level and uses exotic technologies, like supercold superconductor chips. Quantum computing’s ultimate benefit is that it solves problems too complex for today’s classical computers.
In other recent news on quantum stocks, Microsoft (MSFT) recently announced the launch of Quantum Ready, a new program from its Azure cloud computing business.
Further, Trump has named former PayPal Holdings (PYPL) executive and Silicon Valley venture capitalist David Sacks as his artificial intelligence and cryptocurrency czar. Further, Sacks is an associate of Tesla (TSLA) and SpaceX founder Elon Musk, who has emerged as a key advisor to Trump.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
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