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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.

Intel Appoints Lip-Bu Tan as New CEO Amid Transition

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Intel has appointed Lip-Bu Tan, a seasoned chip industry veteran, as its new CEO, effective March 18. The move marks a significant leadership change just three months after the company ousted its previous CEO, Pat Gelsinger, whose efforts to revitalize the company had faltered and eroded investor confidence.

Tan, who served on Intel’s board prior to his appointment, brings extensive experience in both chip design and technology investing, making him a strong contender for the role. His appointment follows discussions with Intel’s board in December, as previously reported by Reuters.

In a letter to Intel employees, Tan expressed his commitment to restoring Intel’s position as a “world-class products company” and emphasized the goal of establishing Intel as a “world-class foundry” to better serve its customers. His optimistic message signaled confidence in the company’s turnaround strategy.

Intel’s stock surged 12% in after-hours trading on the announcement, reflecting analyst optimism about the leadership change. The company’s stock had suffered a 60% drop in 2024, reflecting its struggles amid a challenging industry landscape.

The company is navigating a historic transition, including significant investment to become a contract manufacturer of chips for other companies. Despite challenges in capitalizing on the boom in advanced AI chips—which has boosted the fortunes of rivals like Nvidia—Intel is actively working to recover its market position.

Amid Intel’s ongoing struggles, rumors have circulated that competitors, including Broadcom and TSMC, were exploring options to acquire or manage parts of Intel’s business. Most notably, TSMC was reportedly considering a joint venture to operate Intel’s factories, after the Trump administration encouraged TSMC to help revitalize the company.

Jack E. Gold, an industry analyst, praised Tan’s appointment, noting his deep understanding of both chip product design and manufacturing. Analysts anticipate that under Tan’s leadership, Intel will focus on stabilizing its operations, although any transformation will likely take years.

Tan, 65, originally from Malaysia and raised in Singapore, holds degrees in physics, nuclear engineering, and business administration. He previously served as CEO of Cadence Design Systems, a key supplier for Intel, from 2009 to 2021, during which time the company’s revenue and stock performance saw significant growth.

Tan had stepped down from Intel’s board in 2023 over disagreements related to the company’s culture and strategy, particularly its approach to contract manufacturing and workforce size. However, he will rejoin the board in his new role as CEO.

Industry experts believe that Tan’s appointment brings much-needed stability to Intel, which has been under pressure in recent years. Tan is expected to oversee the continuation of Intel’s foundry business while managing the company’s transformation efforts.

‘Gamestop Effect’ Drives Eutelsat’s 650% Surge Amid Retail Traders’ Frenzy

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Shares of Franco-British satellite operator Eutelsat surged dramatically this week, with gains reaching nearly 650% over four days, as retail traders appeared to be behind the movement, reminiscent of the “Gamestop effect” seen in 2021. This sudden rally in Eutelsat’s stock follows speculation that the company could replace Elon Musk’s Starlink in providing internet access to war-torn Ukraine, reigniting investor interest in a stock that had previously hit record lows.

On Thursday, Eutelsat’s shares rose another 18%, pushing the company’s value to over €4 billion ($4.3 billion), although they eventually retreated by 11% in the face of heavy trading volumes. This followed a six-fold increase in the prior three sessions, marking a remarkable short squeeze, according to Bernstein analyst Aleksander Peterc. The move is seen as one of the most substantial short squeezes, driven by retail traders amplifying the effects of geopolitical tensions and speculations about the company’s future role in satellite communication for Ukraine.

The rally began after a public dispute between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump last Friday, which led to the suspension of military aid to Ukraine. The excitement around Eutelsat also gained momentum from intense discussions in French retail forums, particularly on Boursorama, and continued interest in platforms like Germany’s Tradegate. Eutelsat has become one of the most traded stocks on these platforms this week, surpassing even major defense stocks.

Stephane Ekolo, an equity strategist, pointed out that retail traders were likely behind the short squeeze, as hedge funds had shorted the stock, leading to heavy covering of positions. Despite this surge, analysts caution that the stock’s price reflects investor hope more than solid fundamentals. In January, Moody’s had downgraded Eutelsat’s rating, citing struggles with its OneWeb satellites and cash flow pressures due to significant investment needs.

Additionally, Eutelsat is reportedly in talks with the European Union about providing more internet access to Ukraine, potentially boosting its prospects further. The company is also discussing a deal with the Italian government for secure satellite communications. Despite this, Fitch downgraded the company’s long-term rating, citing its need for additional funding of $4.2 billion by 2032.