quantum computing is a type of computing where information is processed using quantum bits instead of classical bits. In fact, quantum computing has the potential to revolutionize the speed and accuracy of computations, which could have huge implications for businesses and industries that rely heavily on computers for tasks such as data analysis and machine learning.
Next, quantum computing stocks are stocks of companies that are working to develop quantum computing technology. As a result, quantum computing stocks could potentially offer significant returns if quantum computers become more commercially available in the future. However, they are also likely to be highly volatile, so investing in quantum computing stocks is not for the faint-hearted. If this makes you want to invest in the quantum computing sector, here are two quantum computing stocks to watch on the stock market today.
Quantum computing stocks to invest in [Or Sell] Now
Alphabet (GOOGL Stock)
Kicking off the list is a tech giant Alphabet Inc. (GOOGL). In short, Alphabet Inc is an American multinational conglomerate. It is the parent company of Google, YouTube, Nest and several other companies. Currently, Alphabet is the world’s third-largest technology company by revenue.
Next, Google AI Quantum is built on a state-of-the-art Sycamore-branded 54-qubit processor. This is widely known as one of the world’s leading quantum computing projects. In fact, Sycamore performed a calculation in 200 seconds. Why is this relevant? In the report, he showed that the world’s most powerful supercomputers would have taken 10,000 years.
The thing is, Alphabet potentially built the world’s first quantum computer. This will help improve the computing power of Sycamore. Then, through its Google Cloud business, Alphabet can help make Sycamore the market leader in quantum computing as a service. Which, in turn, can have great potential for increasing large-scale revenue for Alphabet.
GOOGL stock chart
Meanwhile, as of Friday’s close, GOOGL shares are trading at $97.46 per share.
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Nvidia (NVDA Stock)
Next, Nvidia Corporation (NVDA) Nvidia designs and manufactures graphics processing units (GPUs) for the gaming and professional markets. Nvidia’s main GPU product line, “GeForce”, is focused on mainstream consumers. Additionally, the company also creates chipsets for motherboard manufacturers. Additionally, the Company’s products are found in a wide variety of consumer electronic devices such as mobile phones, tablets, laptops, Ultrabooks, PCs, video game consoles, and more.
In July, the company announced its hybrid quantum-classical computing platform. By diving in, Nvidia’s unified computing platform is helping accelerate breakthroughs in quantum research. As well as development in a wide range of industries. This includes artificial intelligence, healthcare, finance and others.
Tim Costa, HPC and Quantum Computing Product Manager at NVIDIA, said:Scientific breakthroughs can occur in the short term with hybrid solutions combining classical and quantum computing. QODA will revolutionize quantum computing by providing developers with a powerful and productive programming model.”
NVDA Stock Chart
Looking at the last month of trading, NVDA stock rebounded 26.16% as of Friday’s close. However, NVDA shares are still down more than 45% year-to-date. Meanwhile, on Friday, Nvidia stock closed the day at $162.70 per share.
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