Quantum Computing (QUBT) shares dropped 18% in pre-market trading today, even after securing its third and fourth purchase orders for the thin-film lithium niobate (TFLN) photonic chip foundry. These new orders highlight the growth of QUBT’s customer base in both research and commercial sectors.
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Notably, the first order came from a leading European university, which plans to use QUBT’s expertise in periodically poled lithium niobate (PPLN) structures for telecom applications. Meanwhile, the second order, from a Canadian photonic integrated circuit (PIC) design company, represents QUBT’s first commercial order—another significant step forward for the business.
Its important to highlight that both orders are scheduled for delivery in Q2 2025.
QUBT Raises $100M to Bolster Growth
Following the announcement of its recent orders, the company announced a private placement of 8.2 million shares of common stock at $12.25 per share, generating $100 million in gross proceeds. QUBT plans to use the funds to bolster its working capital and support ongoing investments in its photonics and quantum technologies.
What Is the Future of QUBT Stock?
Quantum Computing’s stock has seen remarkable growth, with a 3023.21% increase over the last six months and a 2329.17% increase over the past three months. The company’s quantum and photonic technologies support high-performance computing, AI, cybersecurity, and remote sensing, strengthening its prospects.
