Quantum Computing (QUBT) Completes $110M Acquisition of Luminar Semiconductor

Quantum Computing Inc. (NASDAQ:QUBT) is one of the hidden AI stocks under $10 to buy. On February 2, Quantum Computing completed the acquisition of Luminar Semiconductor from Luminar Technologies in an all-cash transaction valued at $110 million. This acquisition helps Quantum Computing become a vertically integrated, domestic provider of photonics and quantum platforms. By combining Quantum Computing’s thin-film lithium niobate technology with Luminar Semiconductor’s established expertise in lasers, detectors, packaging, and manufacturing, the company aims to produce chip-scale, mass-producible quantum hardware that operates at room temperature.

Earlier on January 15, Rosenblatt initiated coverage of Quantum Computing Inc. (NASDAQ:QUBT) with a Buy rating and a $22 price target, highlighting the company’s legitimate assets in photonics, compute, security, and sensing.

The firm emphasized the potential of the company’s thin-film lithium niobate fabs, which are positioned to meet industry demand for integrated quantum photonics, nonlinear optics, and optical waveguides. Overall, the firm views the stock’s risk/reward profile favorably, identifying an immediate opportunity for investors to gain exposure to the quantum computing sector.

Quantum Computing Inc. (NASDAQ:QUBT) is an integrated photonics company that provides quantum machines to commercial and government markets in the US.

While we acknowledge the potential of QUBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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