China-based MicroCloud Hologram Inc. (NASDAQ:HOLO), saw its pre-market share price grow by 31.44 percent to $6.48 apiece as of 7:49 AM as investor sentiment was buoyed by news of significant progress on its quantum technology.
Codes projected over to a woman. Photo by ThisIsEngineering on Pexels
According to the company, it had successfully implemented a fast adiabatic driving protocol within a double quantum dot system, enabling precise energy control for two heavy-hole spin qubits.
Unlike conventional methods, the new technology can avoid distortions caused by abrupt energy changes and external disturbances, thereby ensuring higher fidelity in quantum state transitions.
It also enhances qubit initialization stability which is critical for accurate quantum computation and mitigates charge noise that has traditionally disrupted operations.
Additionally, MicroCloud Hologram (HOLO) has made progress in quantum gate control, achieving 99 percent fidelity in operations such as NOT, CNOT, and SWAP-like gates within its double quantum dot system.
With the recent progress, MicroCloud Hologram (HOLO) said it expects its innovations will transition from laboratory use to practical applications, contributing to the growth of the quantum information processing industry.
Quantum Stocks Get Even Brighter Prospects
Similar to its peers, prospects for MicroCloud Hologram (HOLO) remained bright as the company was expected to benefit from the rapidly growing quantum computing sector globally.
Through the National Quantum Initiative Reauthorization Act, US lawmakers promised to support the sector, with a backing of as much as $2.7 billion over the next five years. The funds will be used to advance practical applications in quantum technology and bolster national security and economic competitiveness. The legislation was introduced by Senators Maria Cantwell, Todd Young, Dick Durbin, and Steve Daines.
“Advancements in quantum science and technology are a game-changer. From healthcare breakthroughs to clean energy solutions, quantum applications in sensing, computing, and communications will reshape our future,” said Senator Cantwell in the statement.
“The National Quantum Initiative Reauthorization Act strengthens America’s competitive edge through critical R&D (research and development) investments. By fostering public-private collaboration, we will accelerate quantum innovation, create high-skilled jobs, and pioneer discoveries that benefit generations to come,” it added.
The bill aims for significant investments in quantum computing, sensing, and communications, prioritizing economic competitiveness and national security. Federal funding would support quantum research at the National Institute of Standards and Technology (NIST), National Science Foundation (NSF), and NASA, along with new initiatives to boost workforce development and infrastructure.
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Disclosure: None. This article is originally published at Insider Monkey.
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