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Quantum Computing Stocks Surge Following D-Wave’s Positive Forecast

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Shares of quantum computing companies saw notable gains on Thursday, outperforming the broader market after D-Wave Quantum (QBTS.N) issued a strong quarterly revenue forecast. D-Wave‘s stock jumped 15%, reaching $6.71, after the company projected its current-quarter performance would exceed analysts’ expectations. This followed an 8% increase on Wednesday, which was fueled by the publication of a peer-reviewed paper in Science, showing that its quantum computer surpassed one of the world’s most powerful classical supercomputers.

Quantum computing relies on quantum mechanics, which gives it a performance advantage over traditional computers, allowing faster and more efficient processing through parallel operations and the ability to predict multiple outcomes simultaneously.

Other quantum computing stocks also saw significant gains. Quantum Corp (QMCO.O) surged 26%, marking its largest daily percentage increase since February. Quantum Computing Inc (QUBT.O) also rose by 2%, while the broader market struggled, with the Nasdaq Composite down more than 2% in the afternoon.

The quantum sector is gaining increasing attention, with experts comparing it to the early stages of artificial intelligence (AI). Jake Dollarhide, CEO of Longbow Asset Management, noted that quantum computing is still in its “embryonic stage” and predicted rapid growth, with the sector becoming a focal point on Wall Street.

While most stocks in the sector saw gains, IonQ (IONQ.N) struggled, with its shares falling 5.3% to $20.68 after Kerrisdale Capital announced a short position on the stock. IonQ has seen significant volatility, down nearly 50% year-to-date following a more than 200% rise in 2024.

Korea’s NH Venture Targets Investments in Israeli Tech Startups

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NH Venture Investment, a branch of NongHyup Financial Group (NH), is looking to invest millions of dollars in Israeli tech startups, aiming to combine Israel’s innovative technologies with Korea’s manufacturing capabilities to create larger global companies. Established in 2019, NH Venture seeks to build on Israel’s deep-tech expertise, including areas such as artificial intelligence, semiconductors, defence, healthcare, and quantum computing.

In July 2024, NH Venture teamed up with OurCrowd, an Israeli investment platform, to establish the Trepont Fund—an $80 million initiative designed to invest in 30 startups across Israel, Korea, and Silicon Valley. CEO Hyun Jin Kim confirmed that NH Venture plans to invest at least $40 million of the fund specifically in Israeli startups. One of the company’s notable investments is in Kardome, an AI voice recognition company that collaborates with Korean giants LG and Hyundai Motors.

During his recent visit to Israel, Kim met with several startups, including Hailo, an Israeli unicorn in the AI space. Kim emphasized the potential for strong collaboration between Israeli innovation and Korean manufacturing, particularly to penetrate the U.S. market. Despite concerns around the ongoing Israel-Hamas conflict, Kim noted that innovation has remained constant in the region, and NH Venture is not deterred by the situation.

The fund is specifically targeting early-stage companies that have already developed proven products. Ely Razin, a partner at OurCrowd, highlighted that Korean interest in Israeli startups has grown, especially following the Israel-Hamas ceasefire.

The relationship between Israel and Korea is well-established, with Samsung, LG, and Hyundai all having venture arms in Israel. Both countries are among the global leaders in research and development.

Seong Ryong Kang, CEO of the Korea-Israel Industrial R&D Foundation, believes the cooperation between the two countries is more seamless compared to other Asian nations due to their complementary industries, and the presence of Korean venture firms in Israel underscores a strong willingness to collaborate.

Quantum Computing Startup QuEra Secures $230 Million Funding Round

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QuEra Computing, a neutral-atom quantum computing startup, announced on Tuesday that it has successfully closed a funding round exceeding $230 million. The round saw participation from significant investors, including Google’s Quantum AI business unit and SoftBank Vision Fund, among others. However, the company did not disclose the valuation at which the funds were raised.

Neutral-atom quantum computing, the core technology QuEra specializes in, offers advantages over other quantum systems by enhancing scalability and reducing error rates. This technology works by using lasers to manipulate small, uncharged atoms such as rubidium or strontium, making it a promising avenue for advancing quantum computing.

The Boston-based firm confirmed that $60 million of the $230 million raised will be received in the near future, contingent on meeting a prerequisite funding condition, which is currently underway.

QuEra plans to allocate this funding toward the development of fault-tolerant quantum computing technology. This technology aims to enable quantum computers to reliably perform computations, even in the presence of errors, a key challenge in the field.

Major tech players like Google, Microsoft, and IBM continue to support the development of quantum computing, recognizing its potential to revolutionize computing power and deliver speeds far beyond the capabilities of today’s advanced systems. Google recently made headlines in December by overcoming a major quantum computing challenge with the release of a new generation of chips. The company has also stated that it expects commercial quantum computing applications to emerge within the next five years.