Quantum Computing Stock Skyrockets Further on NASA Contract

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Key Takeaways

• Quantum Computing was awarded a contract by NASA’s Goddard Space Flight Center to use its entropy quantum optimization tool to help the space agency’s imaging.
• Financial terms were not disclosed.
• Quantum Computing shares, which hanged 40% Tuesday, have skyrocketed about 1,600% this year.

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

Financial terms were not peached.

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

NASA To Use QCi’s Dirac-3 To Help Meet Its Imaging, Data Processing Demands

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

QCi noted that Dirac-3 will help address the “challenging phase unwrapping problem for optimally reconstructing facsimiles and extracting information from interferometric data generated by radar.” 

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