Quantum Computing Stocks Gain on Tuesday: Here’s Why – Quantum Computing (NASDAQ: QUBT)

Quantum Computing Company Quantum BT Shares rose on Tuesday after the company announced it had secured a major contract from NASA to provide imaging and data processing support.

What happened: Quantum Computing said it was awarded a contract from NASA’s Goddard Space Flight Center to apply its entropy quantum optimization machine Dirac-3 to support NASA’s advanced imaging and data processing needs.

The contract will specifically apply Dirac-3 to solve challenging phase unwrapping problems to optimize reconstructed images and extract information from radar-generated interference data. Quantum computing efforts are expected to help improve NASA’s data quality and accuracy.

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

“The goal of this project is to demonstrate how QCi’s Dirac-3 solves the phase unwrapping problem and enable NASA to compare the results and advantages of QCi’s quantum optimization technology with state-of-the-art 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 computing challenges. The company believes that, if successful, the contract will pave the way for similar applications in other areas where quantum solutions have advantages.

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QUBT Price Trend: Quantum Computing shares rose 37.4% to $15.29 at press time, according to Benzinga Pro.

Photo: Courtesy of Nvidia.