Quantum Stocks Surge on Government Partnerships and Analyst Coverage

Quantum stocks, led by IonQ and Rigetti, surged on Wednesday and Thursday driven by acquisitions, analyst coverage, and government initiatives. IonQ announced a major government partnership and completed the acquisition of Oxford Ionics and Vector Atomic. Rigetti secured a $5.8 million contract from the Air Force Research Laboratory to advance superconducting quantum networking. Quantum Computing and D-Wave Quantum also saw gains.

Quantum computing stocks experienced significant growth on Wednesday and Thursday, driven by a series of strategic acquisitions, analyst coverage, and government initiatives. The sector's momentum was notably bolstered by announcements from companies such as IonQ and Rigetti.

IonQ Inc. (NYSE:IONQ) made headlines with the completion of its acquisition of Oxford Ionics and the signing of a definitive agreement to acquire quantum sensor company Vector Atomic. The company also announced a partnership with the U.S. Department of Energy (DOE) to advance quantum technologies in space. This collaboration aims to accelerate commercialization and technological leadership in space-based quantum technologies. IonQ's stock reached new highs, reflecting investor optimism and analyst support Quantum Stocks Boom As IonQ, Rigetti Join Government Initiatives^[1].

Rigetti Computing, Inc. (NASDAQ:RGTI) also secured a significant contract, securing a three-year, $5.8 million deal from the Air Force Research Laboratory (AFRL) to advance superconducting quantum networking. This contract will see Rigetti collaborate with Dutch startup QphoX, highlighting the growing importance of quantum technologies in achieving global leadership in space innovation and cybersecurity Rigetti Computing jumps on $5.8 million contract from the Air Force Research Laboratory to advance quantum networking^[3].

Other notable quantum computing stocks that saw gains include Quantum Computing Inc. (NASDAQ:QUBT) and D-Wave Quantum, Inc. (NYSE:QBTS). Quantum Computing Inc. jumped by about 4.5% on Wednesday, driven by broader quantum innovation excitement and news about industry advancements. D-Wave Quantum set a new 52-week high on Wednesday, closing up 18.76% at $22.49, fueled by sector sentiment and data featured at the company's Tokyo event Quantum Stocks Boom As IonQ, Rigetti Join Government Initiatives^[1].

Analysts have also shown increased interest in the sector. Needham analyst N. Quinn Bolton maintained a Buy rating and $80 price target on IonQ shares, while Lake Street analyst Max Michaelis initiated coverage on Quantum Computing with a Buy rating and a $24 price target Quantum Stocks Boom As IonQ, Rigetti Join Government Initiatives^[1].

The quantum computing sector's growth is expected to continue, driven by the increasing demand for advanced computing capabilities and the support of government initiatives. As these companies continue to make strides in quantum technology, investors and financial professionals should keep an eye on the sector for potential opportunities.