Tech giant IBM (IBM) and the Basque Government recently opened Europe’s first IBM Quantum System Two at the IBM-Euskadi Quantum Computational Center in San Sebastián, Spain. Interestingly, this advanced computer uses a 156-qubit IBM Quantum Heron processor, one of IBM’s most powerful, and is built to support future upgrades. Furthermore, it provides scientists and developers with access to tools that surpass traditional computers, especially for complex problems in physics, materials science, and artificial intelligence.
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This launch is a major step forward in the BasQ (Basque Quantum) initiative, which is a program that started in 2023 to turn the Basque Country (an autonomous community in northern Spain) into a global leader in quantum technology. At the opening ceremony, Basque President Imanol Pradales explained that the government sees quantum computing as a key to growing the local economy, attracting talent, and connecting with other research hubs around the world.
It’s worth noting that the Basque Government began focusing on quantum computing in 2019 and named it one of four scientific priorities. Since then, it has worked with IBM and the local provinces of Álava, Bizkaia, and Gipuzkoa to build not just a facility, but a full ecosystem for research, training, and real-world applications. As a result, the IBM-Euskadi center offers powerful computing tools to researchers while also helping train students and professionals in quantum technology.
Is IBM a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on IBM stock based on five Buys, six Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average IBM price target of $288.45 per share implies that shares are trading near fair value.
