Shares of photonic-based quantum computing and solutions provider Quantum Computing Inc. (NASDAQ:QUBT) are on the rise today after it bagged a follow-on task order to support NASA in remote sensing and climate change monitoring.
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The follow-on order is associated with a subcontract awarded to the company in February this year and the initial engagement is expected to be completed in the second quarter of this year.
Today’s win for QUBT comes fresh on the heels of its acquisition of AI company millionways. QUBT’s Board has approved signing a non-binding letter of intent to acquire millionways and the development comes after the two companies teamed up to bring together millionways’ algorithms and QUBT’s quantum photonics computing power.
Despite today’s price gains, QUBT shares are still down nearly 38.5% over the past six months while short interest in the stock currently hovers at about 4%.
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