Quantum stocks saw a much-needed boost on Friday as markets rallied following surprisingly dovish remarks from Fed Chair Jerome Powell.
Lower interest rates would be positive news for quantum companies carrying significant debt.
Here's a look at what's going on in the quantum computing sector.
- IONQ stock is racing higher. See the real-time price action here.
Quantum Computing – QUBT
Quantum Computing, Inc. (NASDAQ:QUBT) reported disappointing Q2 results last week with quarterly losses of 26 cents per share and revenue of $61,000, missing the Street estimate of $100,000.
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Interim CEO Dr. Yuping Huang emphasized on the company's earnings call that QCi's focus is on immediate, practical value.
"What sets us apart from others in the quantum computing space is that we are not chasing theoretical performance. Instead, we are delivering purpose-built machines and components that customers are deploying today," Dr. Huang said on the call.
Quantum Computing shares were up by more than 8% on Friday, but remain 5% lower over the past month.
Rigetti – RGTI
On Wednesday, Rigetti Computing, Inc. (NASDAQ:RGTI) announced a new collaboration with Montana State University to advance quantum computing research and innovation.
However, Rigetti shares were down more than 10% over the past week despite Friday's rally.
IonQ – IONQ
IONQ stock rose steadily on Friday following Powell's speech. Earlier this week, IonQ, Inc. (NYSE:IONQ) announced that it now controls or has access to more than 1,000 patents and applications across its business lines.
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Dean Kassmann, IonQ's SVP of Engineering & Technology, said the new intellectual property underscores the company's technical leadership and noted that IonQ's R&D team continues to deliver innovations that bring enterprise-grade systems closer to surpassing classical computing.
IonQ aims to build a quantum system with 2 million qubits by 2030.
D-Wave Quantum – QBTS
D-Wave Quantum, Inc. (NYSE:QBTS) will host its first-ever Qubits Japan 2025 quantum computing user conference in Tokyo on Sept. 17. The event will be themed "Quantum Realized” and will feature presentations from D-Wave executives, customers and thought leaders.
“Asia — and especially Japan — is becoming an important epicenter of quantum computing innovation, development and adoption,” said Dr. Alan Baratz, CEO of D-Wave.
The company highlighted D-Wave’s bookings in the APAC region which are up 83% over the past 12 months.
D-Wave stock rallied on Friday after Powell's comments sparked market interest in rate cut hopes. However, the stock remains down 12% over the past month.
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