1 Quantum Computing Stock That Could Be the Next Palantir
Palantir redefined data analytics through game-changing software. This quantum company is using a similar approach.
Overview
Quantum computing harnesses the rules of quantum mechanics to process information differently than classical computers. Instead of bits locked as zeros or ones, quantum systems use qubits that can exist in superposition -- holding multiple states at once. In artificial intelligence (AI), quantum computing stands out as a major frontier because hybrid quantum-classical systems stand to accelerate machine learning, improve generative models, and tackle problems in areas such as logistics or neural network design.
Management consulting firm McKinsey & Company estimates that quantum computing could unlock up to $2.7 trillion in global economic value by 2035. Prominent use cases span drug discovery, portfolio optimization and risk modeling, and supply chain efficiencies.
Details
Early value will likely come from hybrid approaches that pair quantum processors with classical AI and high-performance computing. Against this backdrop, I see some parallels between IonQ's (NYSE: IONQ) quantum computing approach and Palantir Technologies' (NASDAQ: PLTR) ascent to dominating the AI software landscape.
Source
Originally published at www.fool.com.