Quantum Computing Stock Soars Further on NASA Contract

On By Littum

Key takeaways

  • Quantum Computing was awarded a contract by NASA’s Goddard Space Flight Center to use its entropy quantum optimizer to aid the space agency’s imaging.
  • Financial terms were not disclosed.
  • Quantum Computing shares, which rose 40% on Tuesday, are up about 1,600% this year.

Shares of Quantum Computing (QUBT), or QCi, exploded on Tuesday after the integrated photonics and quantum optics company announced it had received a contract from the National Aeronautics and Space Administration’s (NASA) Goddard Space Flight Center for its imaging technology.

Financial terms were not disclosed.

Quantum Computing shares, which rose 40% on Tuesday, have been on a tear over the past month and are now up about 1,600% year-to-date.

NASA will use QCi’s Dirac-3 to help meet its imaging and data processing requirements

The company explained that NASA will use QCi’s entropy quantum optimization machine, Dirac-3, to support the space agency’s advanced imaging and data processing requirements.

QCi noted that Dirac-3 will help solve the “challenging phase unwrapping problem to optimally reconstruct images and extract information from interferometric data generated by radar.”

Chief Executive Officer (CEO) Dr. William McGann said the goal is to let NASA “compare the results and benefits of QCi’s quantum optimization technology with state-of-the-art algorithms running on classical computers.”

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