5 Stocks Stealing The Show

Page 5 of 5

1. D-Wave Quantum Inc. (NYSE:QBTS)

D-Wave Quantum soared for a 4th straight session on Wednesday, climbing 22.51 percent to finish at $20.79 apiece, as investors took heart from Nvidia Corp.’s development of two new products aimed at solving the challenges of the quantum computing sector.

D-Wave Quantum Computing Inc. (NYSE:QBTS) climbed alongside its counterparts Rigetti, IonQ, and Infleqtion, among others, following Nvidia’s launch of a new AI-powered workflow designed to correct quantum systems’ biggest problems.

Called the Ising Calibration and Ising Decoding, Nvidia said that the two model domains can both target the fundamental challenges in quantum computing.

Ising Calibration is a vision-language model for automating QPU calibration tasks capable of understanding quantum computing scientific experiment output and how it compares to expected trends, while Ising Decoding consists of two 3D CNN models for demanding decoding needed during quantum error correction.

Investors took the development positively, sparking appetite for key players, including D-Wave Quantum Computing Inc. (NYSE:QBTS), as it validated the increasing importance of the quantum sector after executives from technology giants earlier said that they deem the industry useful only decades away.

Also on Wednesday, investors loaded portfolios on expectations of business updates from CEO Alan Baratz, who participated in the QED-C Quantum Summit on the same day.

While we acknowledge the potential of QBTS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QBTS and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge fund investor letters by entering your email below.

Page 5 of 5