Quantum Computing stock (QUBT) and other Quantum stocks are on a tear Wednesday. QUBT in particular is surging 42% to reverse a 5-day drop of 40%. Shares of Rigetti Computing are more than 13% higher, while D-Wave Quantum surged 16%, IonQ climbed 26%, and the Defiance Quantum and AI ETF added nearly 2%. Microsoft considers this the year of Quantum Computing, with COO Mitra Azizirad calling 2025 “Quantum Ready.”
“We are at the advent of the reliable quantum computing era,” wrote Azizirad, president and chief operating officer of Microsoft’s strategic missions and technologies, in a blog post. “And we are right on the cusp of seeing quantum computers solve meaningful problems and capture new business value.”
Nvidia Contributes to Quantum Stock Surge
Additionally, Nvidia is sparking the Quantum stock rally after announcing a “Quantum Day” yesterday at its GTC conference in March. Microsoft is the latest company to spur enthusiasm for quantum computing. Quantum stocks skyrocketed last year after Alphabet’s Google announced a breakthrough with its Willow quantum computing chip. While Nvidia CEO Jensen Huang recently poured water on the Quantum stock surge saying it wasn’t due for decades, Microsoft’s recent blog post reignited the fire.
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In contrast, many on Wall Street still believe real-world use cases for the technology are decades away. Supporters say quantum computers will be able to conduct computing tasks traditional computers can’t while processing far more data. However, big investments and innovations from companies like Microsoft, Nvidia, and more could spark this revolution to come sooner.
With an influx of investments into the continually emerging AI sector, Microsoft (MSFT) has gotten a $650 price target as analysts are projecting a historic 2025. Bernstein, Citi, and Piper Sandler have all positively reworked their projections for the company. Additionally, the company has continued to spend big on artificial intelligence and Quantum computing, as there are hopes that the investments will pay off.
