Quantum computing company D-Wave Quantum (QBTS 13.75%) tumbled 5.4% through 11:30 a.m. ET on no apparent news -- relating to D-Wave Quantum, that is. Elsewhere in the quantum universe, another quantum stock is making waves.
Yesterday, IonQ (IONQ 10.13%) announced that with help from the Air Force Research Lab, it has "demonstrated the frequency conversion of photons from visible wavelengths used to interface with trapped barium ions into telecom wavelengths on a prototype system," as The Fly reports.
Sound like good news? IonQ confirms it is:
The ability to transform visible light, which is used in IonQ's trapped ion quantum systems, into telecom wavelengths is essential for transmitting quantum information efficiently over long-haul fiber optic cables. This milestone signifies a major advancement in IonQ's long-term vision for the Quantum Internet-distributed quantum computing via secure quantum networks.
Just one day later, IonQ announced another development today, reaching a record algorithmic qubit score of #AQ 64. (IonQ says this means its quantum computers can consider "more than 18 quintillion ... different possibilities simultaneously," a "268,435,456 times" increase over their capability just nine months ago.)
Image source: Getty Images.
Good news for IonQ, bad news for D-Wave?
Call it a "quantum leap." While I admit all the technical details of these announcements escape me, at face value, it sure sounds like IonQ is leaving its competitors in the quantum dust.
Is D-Wave stock a sell?
Does this mean you should sell D-Wave Quantum stock and buy IonQ? Perhaps. But honestly, you have to look out all the way to 2030 to find any analysts predicting any of these quantum stocks earning their first profits.
As for today, I think it's still anyone's guess who will win this race, and press releases and momentum traders continue to rule the day. Invest with caution.
