Quantum Computing (QUBT) Climbs 8% on New Govt Deal

We recently published 10 Stocks With Surprising Gains Amid Market Meltdown. Quantum Computing Inc. is one of the best-performing stocks on Tuesday.

Quantum Computing saw its share prices increase by 8.27 percent on Tuesday to close at $16.89 apiece after bagging a new deal from the US Department of Commerce for the development and supply of thin-film lithium niobate (TFLN) photonic integrated circuits (PICs).

Under the agreement, Quantum Computing Inc. will design and fabricate TFLN-based PICs, with performance requirements focused on low optical-loss waveguides, high-performance modulators, and narrow-band filters.

Quantum Computing Inc. said in a statement that new new award was its first direct government contract for its TFLN foundry services and represented a key step in its plans to become a trusted supplier of advanced photonic technologies.

Quantum Computing (QUBT) Climbs 8% on New Govt Deal

“QCi is proud to deliver advanced photonic solutions to market through our commercial foundry. Additionally, we’re pleased to add a leading Fortune 500 defense and technology contractor to our growing list of commercial customers, reinforcing the broad applicability of our TFLN platform across high-security, mission-critical environments.”