Investing.com — Shares of Quantum Computing Inc. (NASDAQ:QUBT) jumped 50% following news that the company landed a prime contract with NASA’s Goddard Space Center. The contract involves the use of Quantum Computing’s entropic quantum optimization machine, Dirac-3, to enhance NASA’s imaging and data processing capabilities.
The company’s technology will be used to solve the phase unwinding problem in radar-generated interferometric data, a complex challenge crucial for image reconstruction and information extraction. Quantum Computing Inc. aims to demonstrate the efficiency and speed of its quantum optimization machine compared to traditional algorithms used on classical computers.
Dr. William McGann, CEO of Quantum Computing Inc., expressed the company’s pride in supporting NASA’s mission to more efficiently process large volumes of interferometric imaging data. This project is expected to highlight the potential long-term benefits of Quantum Computing technology for NASA, with implications for optimizing capabilities for processing large amounts of data.
The positive market reaction to Quantum Computing Inc.’s contract with NASA underscores investor confidence in the company’s ability to provide advanced quantum and photonic technology solutions for complex optimization problems. The success of this project could also signal broader applications of the company’s technology in other areas where quantum solutions can offer significant advantages in speed and quality.
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