D-Wave Quantum Inc. (QBTS) has seen a notable increase in its share price this Friday, attributed to positive developments within the quantum computing sector. This uptick follows a series of announcements from leading companies, as well as a growing recognition of the potential economic impacts associated with quantum technologies.
Recently, D-Wave participated in the Quantum Technologies Forum held at the University of Southern California (USC). At this event, the company showcased its advancements in annealing quantum computing technology and discussed practical applications informed by insights from both commercial and research clients. Notably, USC is home to a D-Wave Advantage quantum system, underscoring the company’s established presence in both academic settings and enterprise applications.
Adding to its visibility, D-Wave has also announced its plans to present at the upcoming Q2B24 conference in Silicon Valley, where it will focus on using quantum optimisation techniques to address business challenges like workforce scheduling, network resource allocation, and manufacturing processes. Company representatives asserted that their annealing quantum systems offer measurable benefits such as reduced scheduling times and enhanced resource utilisation.
The quantum computing industry is experiencing a surge of activity. According to analysts, the global enterprise quantum computing market is expected to expand at a compound annual growth rate of 29.7%, reaching a market valuation of approximately $10.83 billion by the year 2028. Forecasts also suggest that quantum computing could contribute up to $1 trillion to the global economy by 2035.
In remarks shared during an appearance on Fox Business, D-Wave’s CEO, Dr. Alan Baratz, discussed the company’s ongoing advancements and the rise in commercial adoption for its quantum technologies, emphasising the company's pivotal role in providing operational solutions through quantum systems.
As of the latest updates, D-Wave Quantum share prices have surged by 32%, reaching $4.98, according to Benzinga Pro. These developments reflect the increasing interest and investment in quantum computing as businesses explore its potential to transform various operational efficiencies.
Source: Noah Wire Services