Quantum Computing Stock Skyrockets Further on NASA Contract | Global News Avenue

Quantum Computing Stocks (Quantum BT) (QCi) broke out on Tuesday after the integrated photonics and quantum optics company announced it had received a contract for imaging technology from NASA’s Goddard Space Flight Center.

Financial terms were not disclosed.

Shares of the quantum computing company soared 40% on Tuesday and have been soaring over the past month and are up about 1,600% so far this year.

NASA will use QCi’s Dirac-3 to help meet its imaging, data processing needs

NASA will use QCi’s entropy quantum optimization machine, Dirac-3, to support the space agency’s advanced imaging and data processing needs, the company explained.

Dirac-3 will help solve “the challenging phase unwrapping problem of optimally reconstructing images and extracting information from radar-generated interference data,” QCi noted.

Chief Executive Officer (CEO) Dr. William McGann said the goal is for NASA to “compare the results and advantages of QCi quantum optimization technology with state-of-the-art algorithms running on classical computers.”