Quantum Computing Stock Rises Tuesday: Here’s Why – Quantum Computing (NASDAQ:QUBT)

Quantum Computing Inc QUBT shares traded higher on Tuesday after the company announced it was awarded a prime contract from NASA for imaging and data processing support.

What happened: Quantum Computing said it was awarded a contract by NASA’s Goddard Space Flight Center to use its entropy quantum optimizer, Dirac-3, to support NASA’s advanced imaging and data processing requirements.

The contract will specifically use Dirac-3 to solve a challenging phase unwrapping problem for optimally reconstructing images and extracting information from interferometric data generated by radar. Quantum Computing’s efforts are expected to help improve NASA’s data quality and accuracy.

“QCi is proud to support NASA in this critical mission to process large amounts of interferometric imaging data more efficiently,” said William McGannCEO of Quantum Computing.

“The project’s goal is to demonstrate how QCi’s Dirac-3 can solve the phase unwrapping problem and allow NASA to compare the results and benefits of QCi’s quantum optimization technology with advanced algorithms running on classical computers.”

Quantum Computing said the contract underscores the company’s commitment to advancing quantum and photonic technologies to solve complex optimization and computational challenges. If successful, the company believes the contract could pave the way for similar applications in other areas where quantum solutions offer advantages.

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QUBT Price Action: Quantum Computing shares were up 37.4% at $15.29 at press time, according to Benzinga Pro.

Photo: Courtesy of Nvidia.