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Will IBM Stock Gain From the Expansion of Quantum Data Center?
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International Business Machines Corporation (IBM - Free Report) recently announced that it has successfully completed the expansion of its Quantum Data Centre in Poughkeepsie, NY, marking a significant milestone in the realm of quantum computing. The data center is currently operating the highest number of available utility-scale quantum computers that are part of the quantum systems offered to global clients via the IBM cloud.
The expansion includes the second deployment of IBM’s state-of-the-art Quantum Heron processor, which was first launched late last year. Accessible through the IBM cloud, this advanced system boasts a 16-fold performance improvement and a 25-fold increase in speed compared to earlier counterparts.
The integration has enabled the additional systems within the data center to operate at a utility scale, enabling them to perform quantum circuits with greater accuracy than classical computers. This capability is poised to open new avenues for exploration in quantum algorithms and applications across various industries.
Will IBM Stock Benefit From the Deployment?
IBM has established a robust ecosystem around quantum computing, evidenced by recent publications highlighting its Qiskit as a leading quantum software platform. The software is designed to simplify the programming of quantum systems.
Additionally, the company is collaborating with startups to foster the development of innovative tools that can simplify quantum computing and broaden its capabilities. These tools aim to facilitate the creation and execution of utility-scale quantum algorithms, potentially unlocking significant advancements in various fields.
As IBM continues to push the boundaries of quantum technology with its latest advancements, the Poughkeepsie data center remains central to its Quantum Development Roadmap. The company is also planning to work with more than 250 organizations to accelerate the pace of discovery in quantum computing.
In addition to its quantum endeavors, IBM remains dedicated to nurturing a broader technology ecosystem in New York, aiming to unlock discoveries and opportunities in semiconductors, hybrid cloud, and artificial intelligence.
All these advancements are expected to generate incremental demands for IBM’s solutions, leading to higher revenues. Improving financial performance is likely to propel the stock upward.
IBM’s Stock Price Performance
Shares of IBM have gained 57.8% over the past year compared with the industry’s growth of 42.6%.
Image Source: Zacks Investment Research
IBM’s Zacks Rank and Other Key Picks
IBM currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader industry have been discussed below.
Ubiquiti Inc. (UI - Free Report) sports a Zacks Rank #1 (Strong Buy) at present. Its highly flexible global business model remains apt to adapt to the changing market dynamics to overcome challenges while maximizing growth. You can see the complete list of today’s Zacks #1 Rank stocks here.
Its excellent global business model, which is flexible and adaptable to evolving changes in markets, helps it to beat challenges and maximize growth. The company’s effective management of its strong global network of more than 100 distributors and master resellers improved UI’s visibility for future demand and inventory management techniques. In the last reported quarter, Ubiquiti delivered an earnings surprise of 4.19%.
Workday Inc. (WDAY - Free Report) carries a Zacks Rank #2 at present. In the last reported quarter, it delivered an earnings surprise of 7.36%. WDAY is a leading provider of enterprise-level software solutions for financial management and human resource domains.
Airgain, Inc. (AIRG - Free Report) currently carries a Zacks Rank #2. It has a long-term earnings growth expectation of 35%.
Based in San Diego, CA, Airgain provides antenna products as integrated wireless solutions. These devices are designed to address vital connectivity requirements during product development and throughout the entire lifecycle of other industries, such as automotive and consumer, in addition to various sectors within an enterprise.
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Will IBM Stock Gain From the Expansion of Quantum Data Center?
International Business Machines Corporation (IBM - Free Report) recently announced that it has successfully completed the expansion of its Quantum Data Centre in Poughkeepsie, NY, marking a significant milestone in the realm of quantum computing. The data center is currently operating the highest number of available utility-scale quantum computers that are part of the quantum systems offered to global clients via the IBM cloud.
The expansion includes the second deployment of IBM’s state-of-the-art Quantum Heron processor, which was first launched late last year. Accessible through the IBM cloud, this advanced system boasts a 16-fold performance improvement and a 25-fold increase in speed compared to earlier counterparts.
The integration has enabled the additional systems within the data center to operate at a utility scale, enabling them to perform quantum circuits with greater accuracy than classical computers. This capability is poised to open new avenues for exploration in quantum algorithms and applications across various industries.
Will IBM Stock Benefit From the Deployment?
IBM has established a robust ecosystem around quantum computing, evidenced by recent publications highlighting its Qiskit as a leading quantum software platform. The software is designed to simplify the programming of quantum systems.
Additionally, the company is collaborating with startups to foster the development of innovative tools that can simplify quantum computing and broaden its capabilities. These tools aim to facilitate the creation and execution of utility-scale quantum algorithms, potentially unlocking significant advancements in various fields.
As IBM continues to push the boundaries of quantum technology with its latest advancements, the Poughkeepsie data center remains central to its Quantum Development Roadmap. The company is also planning to work with more than 250 organizations to accelerate the pace of discovery in quantum computing.
In addition to its quantum endeavors, IBM remains dedicated to nurturing a broader technology ecosystem in New York, aiming to unlock discoveries and opportunities in semiconductors, hybrid cloud, and artificial intelligence.
All these advancements are expected to generate incremental demands for IBM’s solutions, leading to higher revenues. Improving financial performance is likely to propel the stock upward.
IBM’s Stock Price Performance
Shares of IBM have gained 57.8% over the past year compared with the industry’s growth of 42.6%.
Image Source: Zacks Investment Research
IBM’s Zacks Rank and Other Key Picks
IBM currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader industry have been discussed below.
Ubiquiti Inc. (UI - Free Report) sports a Zacks Rank #1 (Strong Buy) at present. Its highly flexible global business model remains apt to adapt to the changing market dynamics to overcome challenges while maximizing growth. You can see the complete list of today’s Zacks #1 Rank stocks here.
Its excellent global business model, which is flexible and adaptable to evolving changes in markets, helps it to beat challenges and maximize growth. The company’s effective management of its strong global network of more than 100 distributors and master resellers improved UI’s visibility for future demand and inventory management techniques. In the last reported quarter, Ubiquiti delivered an earnings surprise of 4.19%.
Workday Inc. (WDAY - Free Report) carries a Zacks Rank #2 at present. In the last reported quarter, it delivered an earnings surprise of 7.36%. WDAY is a leading provider of enterprise-level software solutions for financial management and human resource domains.
Airgain, Inc. (AIRG - Free Report) currently carries a Zacks Rank #2. It has a long-term earnings growth expectation of 35%.
Based in San Diego, CA, Airgain provides antenna products as integrated wireless solutions. These devices are designed to address vital connectivity requirements during product development and throughout the entire lifecycle of other industries, such as automotive and consumer, in addition to various sectors within an enterprise.