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Quantum computing looks like it will be a tremendous game changer for society because it provides massive operational power advantages over classical computers. In fact, quantum computers can carry out calculations in minutes vs. todays supercomputers, which take at least several days or years to perform. Reportedly, the technology can significantly improve many sectors, including manufacturing, where it will enable more accurate and realistic prototyping and testing and drug research where its ability to foster a superior and more precise understanding of molecular structure will be transformative.

Among the other fields that quantum computing could significantly improve are artificial intelligence (AI), financial modeling and cybersecurity. Despite the vast potential, the value of most quantum computing stocks is quite low, allowing patient investors to generate huge profits as the technology matures. Such investors should consider snapping up these three quantum computing stocks, which appear to be tremendously undervalued.

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Rigetti Computing (NASDAQ:RGTI) develops quantum computers and superconducting quantum processors, along with a quantum-computing-as-a-service platform adaptable for various cloud setups, another InvestorPlace columnist, Matthew Farley, noted.

Impressively, the company was founded by Chad Rigetti, a physicist and computer scientistwho developed quantum computing for IBM (NYSE:IBM) before launching his own company in 2013. Although Rigetti left his namesake firm earlier this year, he obviously left a tremendous imprint on it.

Rigetti Computing seems to be making significant progress, as it sold its first quantum processing unit in the second quarter, leading research firm Benchmark to predict the company will make similar, additional deals going forward. Indeed, RGTI delivered another QPU last quarter.

Praising the ease of use of RGTIs offerings, Benchmark raised its rating on the shares to Buy from Hold and placed a $4 price target on the name versus its current price of just over $1.

Another big achievement by the company was its attainment of a five-year deal to provide theAir Force Research Labwith the ability to create customized quantum systems.

The market capitalization of RGTI is just $150 million, a level that vastly undervalues the companys long-term potential.

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D-Wave Quantum (NYSE:QBTS) has reportedly created the first quantum computer ready for industrial applications, giving it an important, first-mover advantage in the space.

And somewhat validating D-Wave and its technology, the company has several very impressive customers, including Volkswagen (OTCMKTS:VWAGY), Toyota (NYSE:TM), Lockheed Martin (NYSE:LMT) and Japanese auto parts maker Denso (OTCMKTS:DNZOY).

Moreover, in the first three quarters of the year, D-Waves bookings jumped 125% year-over-year to $8.4 million, while its Average Deal Size per booking increased by 172% for commercial customers and 178% for all customers when comparing the most recent four quarters with the immediately preceding four quarters.

Given D-Waves rapid growth and huge potential, its $134 million market capitalization is clearly quite low, making it one of the best quantum computing stocks to buy.

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Arqit Quantum (NASDAQ:ARQQ) developed a quantum encryption system thats unbreakable and can, relatively cheaply, protect every edge device and cloud machine in the world, according to Seeking Alpha columnist Jay Capital.

He and many other commentators predicted that quantum computers will be able to hack Public Key Infrastructure (PKI) systems over the longer term. PKI is currently the most popular means of protecting data. As a result, new methods of protecting data will have to be found, and ARQQ appears to have a first-mover advantage in that area.

Among ARQQs customers are the U.K. Government [and] the European Space Agency, along with BT Group, a huge British telecom company and Sumitomo (OTCMKTS:SSUMY), a Japanese conglomerate.

Among those testing the product are Verizon (NYSE:VZ), BP (NYSE:BP) and Northrup Grumman (NYSE:NOC).

Arqit looks poised to become a gigantic cybersecurity company, and almost none of that potential is reflected in its current market capitalization of $82 million.

On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to theInvestorPlace.com Publishing Guidelines.

Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israels largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been PLUG, XOM and solar stocks. You can reach him on Stocktwits at @larryramer.

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3 Tremendously Undervalued Quantum Computing Stocks to Buy - InvestorPlace

Announced at its annual IBM Quantum Summit in New York, IBM has unveiled its IBM Quantum Heron, the first in a new series of quantum processors engineered to deliver high performance metrics.

IBM also debuted the IBM Quantum System Two, the companys first modular computer and cornerstone of IBMs quantum-centric supercomputing architecture. Located in Yorktown Heights, New York, the first IBM Quantum System Two has begun operations with three IBM Heron processors and supporting control electronics.

Dario Gil, IBM SVP and director of research, said: We are firmly within the era in which quantum computers are being used as a tool to explore new frontiers of science.

As we continue to advance how quantum systems can scale and deliver value through modular architectures, we will further increase the quality of a utility-scale quantum technology stack and put it into the hands of our users and partners who will push the boundaries of more complex problems.

Having demonstrated its 127-qubit IBM Quantum Eagle earlier this year, IBM Quantum systems now serve as a scientific tool to explore utility-scale classes of problems in chemistry, physics and more.

Since the demonstration, leading researchers, scientists and engineers from organizations across the globe have expanded demonstrations of utility-scale quantum computing to confirm its value in exploring uncharted computational territory. This includes experiments running on the IBM Quantum Heron 133-processor, which the company is now making available for users via the cloud.

IBM Quantum System Two combines scalable cryogenic infrastructure and classical runtime servers with modular qubit control electronics. This architecture combines quantum communication and computation, assisted by classical computing resources and leverages a middleware layer to integrate quantum and classical workflows.

As part of IBMs expanded ten-year quantum development roadmap, the company plans for this system to house IBMs future generations of quantum processors. Additionally, IBM has also unveiled plans for a new generation of its software stack and has announced Qiskit Patterns which aim to democratize quantum computing development.

Qiskit Patterns will serve as a mechanism to allow quantum developers to easily create code. With Qiskit Patterns, combined with Quantum Serverless, users can build, deploy and execute workflows integrating classical and quantum computation in different environments, such as cloud or on-prem scenarios.

Jay Gambetta, vice president and IBM fellow at IBM, said: GenAI and quantum computing are both reaching an inflection point, presenting us with the opportunity to use the trusted foundation model framework of watsonx to simplify how quantum algorithms can be built for utility-scale exploration.

This is a significant step towards broadening how quantum computing can be accessed and put in the hands of users as an instrument for scientific exploration.

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IBM expands on quantum network with launch of IBM Quantum Heron and more - ERP Today

At the annual IBM Quantum Summit in New York, IBM debuted 'IBM Quantum Heron,' the first in a new series of utility-scale quantum processors with an architecture engineered over the past four years to deliver IBM's highest performance metrics and lowest error rates of any IBM Quantum processor to date.

IBM also unveiled IBM Quantum System Two, the company's first modular quantum computer and cornerstone of IBM's quantum-centric supercomputing architecture. The first IBM Quantum System Two, located in Yorktown Heights, New York, has begun operations with three IBM Heron processors and supporting control electronics.

With this critical foundation now in place, along with other breakthroughs in quantum hardware, theory, and software, the company is extending its IBM Quantum Development Roadmap to 2033 with new targets to significantly advance the quality of gate operations.

As demonstrated by IBM earlier this year on a 127-qubit 'IBM Quantum Eagle' processor, IBM Quantum systems can now serve as a scientific tool to explore utility-scale classes of problems in chemistry, physics, and materials beyond brute force classical simulation of quantum mechanics.

IBM is also detailing plans for a new generation of its software stack, within which Qiskit 1.0 will be a pivot point defined by stability and speed. Additionally, and with the goal of democratizing quantum computing development, IBM is announcing Qiskit Patterns.

Dario Gil, IBM SVP and Director of Research

We are firmly within the era in which quantum computers are being used as a tool to explore new frontiers of science. As we continue to advance how quantum systems can scale and deliver value through modular architectures, we will further increase the quality of a utility-scale quantum technology stack and put it into the hands of our users and partners who will push the boundaries of more complex problems.

Jay Gambetta, Vice President and IBM Fellow at IBM

Generative AI and quantum computing are both reaching an inflection point, presenting us with the opportunity to use the trusted foundation model framework of watsonx to simplify how quantum algorithms can be built for utility-scale exploration. This is a significant step towards broadening how quantum computing can be accessed and put in the hands of users as an instrument for scientific exploration.

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IBM Unveils New Series of Utility-Scale Quantum Processors - The Fast Mode

Chinas quantum computing capabilities have made a leap with the first delivery of a domestically developed superconducting quantum chip to an unnamed scientific research institute in the Middle East, according to a state media report.

The sale by SpinQ, a pioneering company based in Shenzhen, comes soon after Chinese quantum chips were sold to the United States and its allies.

It showcases Chinas growing influence in the quantum computing sector, underscoring its role in fostering global collaboration within the industry.

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Founded in 2018, SpinQ has independently established a superconducting quantum computer R&D centre and a production line for superconducting quantum chips. The chip that was delivered, named QPU, represents a successful venture into standardised mass production of the technology, a key achievement for the industry.

We are honoured by this collaboration. Delivering the superconducting quantum chip shows our skill and innovation in quantum computing. It also represents our commitment to worldwide collaboration in this field, founder and chief executive Xiang Jingen said in a report by the state-owned Science and Technology Daily on Tuesday.

Chinese scientists claim record smashing quantum computing breakthrough

This list included entities such as the Hefei National Laboratory for Physical Sciences at Microscale (HFNL), which developed the worlds first quantum science satellite, Micius, and QuantumCTek Co, Ltd, originating from HFNL and specialising in quantum secure communication products, along with its Shanghai subsidiary.

SpinQ is among the fastest in Chinas quantum computing industry to achieve an international market presence. During this trade, the company also engaged in technical exchanges with the buyer.

This was a mutually beneficial learning process, providing us with invaluable global insights and cutting-edge information, SpinQ vice-president Zou Hongyan said on the companys website.

SpinQ has already extended its quantum computing products to five continents with clients across the US, Canada, Australia, Britain, Germany, Switzerland, Norway, Slovenia, Russia, Brazil, Japan and other countries and regions, according to the Science and Technology Daily report.

From a global perspective, the US leads the quantum information industry, with China ranking high in the second tier. However, the technological development gap is not significantly wide, Xiang told 21st Century Business Herald in September.

Quantum chips, which are akin to the CPU in classical computers, are pivotal to quantum computers. They contain multiple quantum bits (qubits) and use pulse sequences sent by quantum measurement and control systems to perform quantum gate operations between qubits, enabling specific quantum computations.

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Producing a standard superconducting quantum chip is difficult because of its complex design, the need to ensure the qubits work consistently and remain stable, and challenges in the materials and technologies used for making and controlling them.

Through independent research and development, SpinQ said it had mastered key technologies from chip design to complete machine and algorithm applications. Its proprietary chip production line is capable of producing consistent and stable superconducting quantum chips.

Chinese breakthrough a step towards scalable quantum computation: paper

The company has three major production lines: large superconducting quantum computers for industrial scenarios, small quantum computers for educational purposes and a general-purpose quantum cloud platform.

Looking ahead, SpinQ aims to deepen its internationalisation strategy, driving common prosperity in the global quantum computing industry chain through increased international technical cooperation and exchanges, Xiang said in the report.

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China sells quantum chips to Middle East and West in show of growing influence - South China Morning Post

IBM has introduced its latest quantum computing achievement, the "IBM Quantum Heron," at the IBM Quantum Summit 2023 event. This 133-qubit processor, developed over four years, represents a significant leap in quantum computing technology. By incorporating a novel architecture and enhancing gate operation, IBM has managed to achieve a remarkable reduction in errors, up to five times less compared to its previous 127-qubit processor, the "IBM Quantum Eagle."

The "IBM Quantum Heron" is hailed as one of the world's most high-performance quantum processors due to its innovative design and error-reduction capabilities. This milestone reflects IBM's commitment to pushing the boundaries of quantum computing.

Furthermore, IBM has officially launched its inaugural modular quantum computer, the "IBM Quantum System Two." This utility-scale quantum computing system is equipped with three IBM Quantum Heron processors and accompanying control electronics. By linking multiple modules together, this system can execute a single quantum circuit with a capacity of up to 100 million operations. IBM's long-term vision is to expand this capability to achieve an impressive 1 billion operations, marking a significant advancement in the era of quantum utility.

For more detailed information, please visit IBM's official press release: "IBM Debuts Next-Generation Quantum Processor & IBM Quantum System Two, Extends Roadmap to Advance Era of Quantum Utility."

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IBM Unveils Advanced 133-Qubit Quantum Processor IBM Quantum Heron and Quantum System Two - guru3d.com