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Shares of quantum computing companies were mixed after IBM (NYSE:IBM) shares hit a record high on Tuesday as it unveiled plans to build what it calls the “world’s first large-scale, fault-tolerant quantum computer” by 2029.
Quantum Computing’s (NASDAQ:QUBT) stock jumped 9%, while IonQ (NYSE:IONQ), which is acquiring Oxford Ionics for about$1.08B, rose about 3% on Tuesday.
Meanwhile, shares of D-Wave Quantum (NYSE:QBTS) and Arqit Quantum (NASDAQ:ARQQ) fell nearly 4% each, and Rigetti Computing (NASDAQ:RGTI) was largely flat but in the red.
New York-based IBM, which already operates a large, global fleet of quantum computers, is releasing a new Quantum Roadmap that outlines its plans to build out a practical, fault-tolerant quantum computer in Poughkeepsie, New York.
More on IBM and Quantum Computing
- IonQ’s $1.1 Billion Oxford Buyout Seeks To Tap Out The Competition (Upgrade)
- IonQ: Growing Quantum Leadership Through Accretive Acquisitions, Currently Expensive
- D-Wave Quantum: Lumpy Monetization Triggers Minimal Margin Of Safety
- IBM hits record high as company shows off new quantum computer
- 4 stocks to watch on Tuesday: SJM, GME, TSM and IBM