D-Wave Quantum (QBTS) Soars to Fresh High on Quantum Computing Boom

We recently published All-Time Rush: 8 of 10 Big Names Hit Fresh Record Highs. D-Wave Quantum Inc. (NYSE:QBTS) is one of the best performers on Tuesday.

D-Wave Quantum surged to a fresh record high on Wednesday, as investor sentiment was bolstered by an overall optimism for the quantum computing sector.

In intra-day trading, D-Wave Quantum Inc. (NYSE:QBTS) jumped to its highest price of $22.85 before paring gains to end the day just up by 18.76 percent at $22.54 apiece.

This followed optimism for the quantum computing sector after the Department of Energy (DOE) partnered with D-Wave Quantum Inc.’s (NYSE:QBTS) counterpart, IonQ Inc., to advance the development and deployment of quantum technologies in space.

Under the agreement, IonQ will provide the design and execution of an orbital demonstration of quantum-secure communications using its satellite platform.

IonQ’s partnership with the government agency solidified prospects for an industry that was once touted to only be beneficial 15 to 30 years away.

Meanwhile, D-Wave Quantum Inc. (NYSE:QBTS) is set to participate in three global technology events this month, including  SEMICON Taiwan, Quantum World Congress, and FintechNation 25, in a bid to showcase the real-world impact of its annealing quantum computing and hybrid quantum technologies.

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Disclosure: None. This article is originally published at Insider Monkey.