Stocks

2 Quantum Computing Stocks To Watch Right Now

Quantum computing is a type of computing where information is processed using quantum bits instead of classical bits. Actually, quantum computing has the potential to revolutionize the speed and accuracy of calculations, which could have huge implications for businesses and industries that rely heavily on computers for tasks like data analysis and machine learning.

Next, quantum computing stocks are stocks of companies that are working on developing Quantum Computing technology. As a result, Quantum Computing stocks could potentially offer large returns if Quantum Computers become more commercially available in the future. However, they are also likely to be very volatile, so investing in Quantum Computing stocks is not for the faint-hearted. If this has you keen on investing in the quantum computing sector, here are two quantum computing stocks to watch in the stock market today.

Quantum Computing Stocks To Invest In [Or Sell] Now

Alphabet (GOOGL Stock)

Kicking off the list is tech giant Alphabet Inc. (GOOGL). In brief, Alphabet Inc is an American multinational conglomerate. It is the parent company of Google, YouTube, Nest, and several other companies. Currently, Alphabet is the world’s third-largest technology company by revenue.

Next, Google AI Quantum is built on a state-of-the-art 54-qubit processor branded Sycamore. This is widely known as one of the leading quantum computing projects in the world. In fact, Sycamore performed a calculation in 200 seconds. Why is that relevant? In the report, it showed it would have taken the world’s most powerful supercomputers 10,000 years to complete.

The fact is, Alphabet has potentially built the world’s leading quantum computer. This will help enhance Sycamore’s computing power. Next, through its Google Cloud business, Alphabet can help turn Sycamore into the market leader in quantum computing as a service business. Which in turn can have big potential to add revenue at scale for Alphabet.

GOOGL Stock Chart

Meanwhile, as of Friday’s closing bell shares of GOOGL stock are trading at $97.46 a share.

GOOGL stock chart
Source: TD Ameritrade TOS

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Nvidia (NVDA Stock)

Next, Nvidia Corporation (NVDA) Nvidia designs and manufactures graphics processing units (GPUs) for the gaming and professional markets. Nvidia’s primary GPU product line, “GeForce”, focuses on mainstream consumers. Also, the company also creates chipsets for motherboard manufacturers. As well as, the company’s products are in a wide variety of consumer electronics such as mobile phones, tablets, notebooks, Ultrabooks, PCs, video game consoles, and more.

Back In July, the company announced its hybrid quantum-classical computing platform. Diving in, Nvidia’s unified computing platform helps accelerate breakthroughs in quantum research. As well as development across a wide range of industries. This includes artificial intelligence, health, finance, and others.

Tim Costa, director of HPC and Quantum Computing Products at NVIDIA commented, “Scientific breakthroughs can occur in the near term with hybrid solutions combining classical computing and quantum computing. QODA will revolutionize quantum computing by giving developers a powerful and productive programming model.

NVDA Stock Chart

Taking a look at the last month of trading, NVDA stock has rallied back by 26.16% as of Friday’s close. Though, shares of NVDA stock are still down over 45% year-to-date. Meanwhile, on Friday, Nvidia stock closed the day at $162.70 a share.

NVDA stock chart
Source: TD Ameritrade TOS

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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