Quantum Computing Inc. shares surge on NASA contract win

Investing.com -- Shares of Quantum (NASDAQ:QMCO ) Computing Inc. (NASDAQ:QUBT) soared 50% following the announcement that the company has secured a prime contract from NASA's Goddard Space Flight Center. The contract involves the application of Quantum Computing's entropy quantum optimization machine, Dirac-3, to enhance NASA's imaging and data processing capabilities.

The company's technology will be used to tackle the phase unwrapping problem in interferometric data generated by radar, a complex challenge that is critical for reconstructing images and extracting information. Quantum Computing Inc. aims to demonstrate the efficiency and speed of its quantum optimization machine over traditional algorithms used on classical computers.

Dr. William McGann, CEO of Quantum Computing Inc., expressed the company's pride in supporting NASA's mission to process large volumes of interferometric imaging data more efficiently. This project is expected to showcase the potential long-term benefits of Quantum Computing's technology for NASA, with implications for optimizing big-data processing capabilities.

The positive market response to Quantum Computing Inc.'s contract with NASA underscores investor confidence in the company's ability to deliver advanced quantum and photonic technology solutions for complex optimization problems. The success of this project could also signal broader applications for the company's technology in other fields where quantum solutions can provide significant advantages in speed and quality.

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Source: Investing.com