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HOBOKEN, N.J. - Quantum (NASDAQ:QMCO) Computing Inc. (NASDAQ:QUBT), a technology firm specializing in photonics and quantum optics with a market capitalization of $1.28 billion, has announced the receipt of a fifth purchase order for its thin film lithium niobate (TFLN) photonic chip foundry. This order, placed by a Canadian research group, is aimed at supporting advancements in quantum photonics research. According to InvestingPro analysis, QUBT is currently trading above its Fair Value, though analysts anticipate 40% sales growth this year.
The company will supply custom test structures based on its TFLN photonic integrated circuit (PIC) technology to the research group. These structures are instrumental in the development of periodically poled lithium niobate (PPLN) components, which are key in generating entangled photons and optical frequency conversion. Additionally, the research group will be granted priority access and preferred rates for future multi-project wafer (MPW) runs. InvestingPro subscribers can access 15+ additional investment tips and detailed financial metrics to better evaluate QUBT's market position and growth potential.
Dr. William McGann, CEO of Quantum Computing Inc., expressed enthusiasm for the partnership's potential to propel the research team's work and underscored the growing demand for TFLN's energy efficiency and scalability.
The new order coincides with the company's recent launch of its PIC Process Design Kit (PDK) on the open-source GDSFactory platform. This tool facilitates the design of complex photonic circuits and will be available through a cloud-based or local portal. The PDK's introduction is scheduled for this week at SPIE Photonics West 2025 in San Francisco, California.
Quantum Computing Inc. also highlighted its expansion plans, including the establishment of a new U.S.-based chip foundry in Tempe, Arizona, set to commence operations later this quarter. The foundry will produce TFLN-based PICs and nanophotonic devices, aiming to solidify the company's leadership in the optical chip market.
The company's Pilot Launch Program has already secured several pre-orders, with collaborations including a top European technical university and a Canadian PIC design house. While the stock has shown significant volatility with a beta of 2.83 and has delivered a remarkable 1,250% return over the past six months, QUBT maintains a moderate debt level with a debt-to-equity ratio of 0.13. This press release statement indicates the company's strategic moves to meet the rising demand in the photonic technology sector.
In other recent news, Quantum Computing Inc. has been implicated in fraud allegations by Capybara Research, accusing the company of issuing misleading press releases and signing sham deals to inflate its stock price. Meanwhile, shares of Rigetti Computing have seen a surge following NVIDIA's announcement of its first Quantum Day at the GPU Technology Conference, sparking increased enthusiasm in the quantum computing sector. However, the future of quantum computing stocks remains uncertain, with Nvidia Corp . (NASDAQ:NVDA)'s CEO indicating that viable applications for the technology are likely more than ten years away.
Quantum Computing Inc. has been making significant progress within its QCi Foundry Pilot Launch Program, securing its third and fourth purchase orders for its thin film lithium niobate (TFLN) photonic chip foundry. Meanwhile, Martin Shkreli, a controversial figure in the investment world, has recommended short selling quantum computing stocks, likening the situation to the dot-com bubble.
These are the recent developments in Quantum Computing Inc. and Rigetti Computing, demonstrating the dynamic operations and challenges these companies face in the evolving quantum computing sector. It's crucial to note that these developments are based on the facts provided and do not serve as a comprehensive view of the companies.
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