Why Shares of D-Wave Quantum Are Skyrocketing This Week

Since last Friday, shares of D-Wave Quantum (NYSE: QBTS) have rocketed nearly 52%, as of 12:17 p.m. ET Thursday. Earlier this week, the company announced general availability of its sixth-generation Advantage2 quantum computing system.

High praise for D-Wave's latest system

Several companies have been working to bring quantum computing to the masses. Quantum computing, or super computers, use quantum mechanics to solve complex equations and problems much faster than a typical computer, and even surpass the skills of experts.

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D-Wave CEO Dr. Alan Baratz called the company's new computer "... a system so powerful that it can solve hard problems outside the reach of one of the world's largest exascale GPU-based classical supercomputers." The new system is now available in 40 countries.

In a report on quantum computers, analysts at JPMorgan Chase praised the company's progress and technological innovation.

"Their newly announced Advantage2 prototype features over 1,200 qubits with 20-way connectivity, with a goal to reach 7,000 qubits in the full Advantage2 system," the report said. "This prototype claims significant speedups over classical supercomputers."

A qubit is the basic unit of data used in quantum computing. Regular computes only leverage bits, or the smallest unit of data that is used to build the foundations of a regular computer.

The best of the bunch?

Quantum computing is a tough industry for retail investors to wrap their heads around. But unlike many of its peers in the sector, D-Wave's technology appears ready to hit the ground running, and its super computers are already in use.

In its first-quarter earnings release, the company also announced a smaller loss than one year prior, and significant revenue growth, so there seems to be something there. Still, with the stock trading at close to a $5.5 billion market cap, I'd keep positions smaller and more speculative for now.

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