International Business Machines Corporation (IBM) Has A "Commercial Quantum Program," Says Jim Cramer

We recently published Jim Cramer’s 12 Fresh Stocks & Quantum Computing Trading Strategy. International Business Machines Corporation (NYSE:IBM) is one of the stocks Jim Cramer recently discussed.

International Business Machines Corporation (NYSE:IBM) is one of Cramer’s favorite firms in the quantum computing space. Given the momentum in quantum computing stocks such as Rigetti, the CNBC TV host has regularly discussed the space. He continues to believe that International Business Machines Corporation (NYSE:IBM) is one of the best-positioned quantum computing firms. In this appearance, he discussed an announcement by the firm that revealed that it was possible to run a quantum computing algorithm on AMD’s chips. The announcement was important since AMD does not design specialty quantum computing processors. Here is what Cramer said about International Business Machines Corporation (NYSE:IBM)’s announcement, which Reuters reported:

“Yeah, why didn’t anyone talk about that. We’re so busy talking about the traditionals, these small guys and how much they’ll get from Lutnick, and I thought that was so significant, it’s one of the reasons I told people to buy IBM. That’s commercial, they have a commercial quantum program. The only other one that really is commercial is Alphabet.

“All they did was talk about RedHat taking down to and it’s going to come back, I thought that was just stellar.”

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