"Over the past year, some stocks in this space have climbed by thousands of percent, drawing billions in capital from those betting on revolutionary advancements. Companies like Rigetti Computing ( NASDAQ:RGTI ), D-Wave Quantum ( ), and Quantum Computing ( NASDAQ:QUBT ) have seen share prices skyrocket, fueled by optimism around potential applications in drug design, optimization, and cryptography. Billions have poured into funds and direct investments, pushing market caps higher despite limited revenue streams."
"With such fervor, could IonQ ( ) have just delivered a breakthrough that sends its stock soaring even further? A Record-Breaking Announcement Today, IonQ announced a major technical milestone: it achieved 99.99% fidelity in two-qubit gates, setting a new world record. In simple terms, qubits are the building blocks of quantum computers, and two-qubit gates handle interactions between them. These gates are crucial because quantum computations rely on precise entanglements and operations; even minor errors can cascade, rendering results unreliable."
Investors have poured billions into quantum computing stocks amid expectations for breakthroughs in drug design, optimization, and cryptography, sending some share prices up thousands of percent despite limited revenues. Skeptics point to persistent technical hurdles and experimental systems that challenge near-term commercialization. IonQ reported a major milestone of 99.99% two-qubit gate fidelity, indicating one error per 10,000 operations and surpassing a 99.97% prior record. The achievement reportedly occurred on mass-producible chips. Historically, high error rates demanded extensive error correction and thousands of physical qubits per logical qubit. IonQ uses electronic qubit control to integrate controls onto semiconductor chips.
Read at 24/7 Wall St.
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