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D-Wave Quantum’s latest quantum computing system has hit the market, the company said Tuesday. Shares popped more than 18%.
The quantum computer, known as Advantage2, marks its sixth iteration and most advance system, the company said. D-Wave said the computer offers a 40% boost in energy scale, reduces noise by 75% and is accessible through the company’s cloud services.
“It’s an engineering marvel, with substantial technical advancements that highlight D-Wave’s progress in scaling quantum technology to meet industry demands for growing computational processing power while maintaining energy efficiency,” said CEO Alan Baratz in a press release.
Quantum computing companies promising to solve intricate computing tasks unachievable by regular computers have garnered the attention of investors since Google debuted its latest quantum computing chip known as “Willow” in December. Microsoft launched its first quantum chip earlier this year.
Despite strides in quantum experts have cast some doubt over how soon quantum applications can hit the market. Nvidia CEO Jensen Huang in January said that 15 years was on the “early side” for “very useful” quantum computers. The comments sent quantum stocks spiraling.
Huang later walked back those comments at a company event in March, with D-Wave’s Baratz and other quantum executives in attendance. Baratz told CNBC shortly after the initial comments that Huang was “dead wrong” about quantum computing.
Other quantum computing stocks jumped on the news with Quantum Computing and Rigetti Computing last up more than 10% and 5%, respectively. IonQ added 3%.
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