Quantum computing's "OpenAI moment"? Companies like Quantum Computing (QUBT.US) are being chased by investors

Zhitong Finance APP noticed that despite the commercialization is yet to come, Quantum Computing (QUBT.US) led the quantum stocks on Monday as the market's enthusiasm for quantum computing technology is growing.

Quantum Computing's stock soared 68% at the close. Its stock has surged about 370% in the past month.

D-Wave Quantum (QBTS.US) rose over 45%, and its market value surged more than 400% in the past month. Rigetti Computing (RGTI.US) surged more than 630% in the past 30 days.

IonQ Inc (IONQ.US) soared nearly 24% in Monday's trading after Morgan Stanley raised its target price.

Analyst Joseph Moore of Morgan Stanley said in a Monday investor note: "We cannot identify a clear catalyst for the stocks in this space during this time, but we do see persistent indications that investment in quantum will continue to grow rapidly." "U.S. lawmakers recently introduced a bill that would authorize $2.7 billion in federal funding for quantum technology."

Morgan Stanley raised its target price for IonQ to $37 from $14.90, but said recent announcements emphasize "the potential impact of the technology, rather than actual near-term value. We do expect this to play out over the next few years."

Moore added: "Clearly, the market is enthusiastic about the potential for quantum technology to participate in the $200bn AI TAM by 2026, though we think this is uncertain."

Senator Maria Cantwell (D-Washington) said: "Quantum technology advances will change the game. From healthcare breakthroughs to clean energy solutions, quantum applications in sensing, computing and communications will reshape our future."

Other recent announcements in the quantum computing space include Amazon's Quantum Embark, which aims to help customers prepare for the quantum computing era, an emerging field that harnesses the power of quantum mechanics.

Quantum computing stocks have been in the spotlight recently after Google announced the release of its significant quantum chip Willow last week. Analysts at Bank of America noted that while quantum computing applications are still in their infancy, the release of Willow had a significant impact on market sentiment.