D-Wave (QBTS) Jumps 11.5% as Firm Sets Sights on Govt Deals

We recently published 10 Stocks Stealing Market Spotlight. D-Wave Quantum Inc. (NYSE:QBTS) is one of the best performers on Wednesday.

D-Wave Quantum soared by 11.47 percent on Wednesday to finish at $25.28 apiece as investors took heart from plans to secure government contracts for quantum computing.

In a statement, D-Wave Quantum Inc. (NYSE:QBTS) said that it formed a new business unit solely focused on driving the adoption of quantum computing products and services with the US government.

The new subsidiary would be led by Jack Sears Jr., a seasoned government and public sector business executive.

In addition to leading the new arm, D-Wave Quantum Inc. (NYSE:QBTS) would also welcome Sears in its executive team and serve as its vice president for US government solutions.

“The call to use quantum technologies to address our nation’s interests is increasing, as the U.S. government faces complex challenges that require more powerful and agile problem-solving resources to protect our nation,” D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz.

“By formalizing a US government-focused business unit under Jack’s leadership, we aim to facilitate the rapid development of quantum applications that address national security, defense, and infrastructure challenges,” he noted.

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