Is Quantum Computing Inc. (QUBT) Hot Again?

We recently published a list of 5 Quantum Computing Stocks That Are Hot Again. In this article, we are going to take a look at where Quantum Computing Inc. (NASDAQ:QUBT) stands against other quantum computing stocks that are hot again.

When Jensen Huang’s comments about useful quantum computing being at least 15 years away tanked most of the quantum stocks, one person must have secretly chuckled. The man in charge of the largest software company in the world, Satya Nadella, may have been the right person to ask that question. His firm has just revealed a new quantum chip, one that uses a superconductor that is neither solid, liquid, or gas! It is a new state of matter altogether!

The new quantum chip is called the Majorana 1 and it can significantly speed up the quantum processes to solve problems in years rather than decades. Chetan Nayak, a technical fellow at the Windows maker had this to say about the development:

Whatever you’re doing in the quantum space needs to have a path to a million qubits. If it doesn’t, you’re going to hit a wall before you get to the scale at which you can solve the really important problems that motivate us. We have actually worked out a path to a million.

As a result of this revelation, quantum computing stocks are surging again. If you missed the last rally, you may still have ample time to get back in. Here is our list of 5 quantum computing stocks that are hot again. To come up with this list, we only considered stocks that have a market cap of at least $500 million.

A data analyst pouring over a chart, the intricacies of its lines being revealed.

Quantum Computing Inc. (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) offers quantum machines that are low-power and portable. Some of its products include a quantum random number generator that generates genuine random numbers instead of pseudorandom numbers, and quantum authentication which removes the shortcomings of traditional cryptography methods.

The company’s stock is inching up again as the company recently signed another purchase order for a research group based in Canada. The research group intends to utilize QUBT’s TFLN foundry services and this is the fifth such purchase order, showcasing how the company’s technology is receiving good feedback from peers.

Quantum Computing Inc. (NASDAQ:QUBT) also recently signed collaborations with a PIC design house in Canada and a technical university in Europe. It remains to be seen however whether the company can turn its photonics technology into a successful business. For now, the stock may be gaining but it remains a risky investment.

Overall, QUBT ranks 4th on our list of quantum computing stocks that are hot again. While we acknowledge the potential of QUBT as a leading AI investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as QUBT but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.