5 Quantum Computing Stocks Challenging Jensen Huang’s Stance

3. Arqit Quantum (NASDAQ:ARQQ) 

Arqit Quantum is a firm that utilizes quantum computing for cybersecurity. The company works with notable partners like Amazon Web Services and offers its QuantumCloud Platform as a Service, which helps companies generate unbreakable encryption keys. The company’s encryption solution is implemented using software alone, not requiring any hardware to go with it.

It shunned its plans of operating its service through satellite link and is focused on just the software offering alone at the moment. The company is not profitable and also losing cash at a fast pace. Traders who want to enter the rally would be better off booking timely profits, as the fundamentals of this stock aren’t as strong as the other quantum computing stocks. The stock is up over 30% at market open and continues to surge higher.