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Core News Facts
Nvidia (NASDAQ: NVDA) is recognized as a leading investment option in quantum computing as it launches a new research center to develop technology solving inherent challenges in quantum devices. The center aims to utilize what Nvidia describes as the “most powerful hardware ever deployed for quantum computing applications.”
In its fiscal second quarter ended July 27, Nvidia reported a net income of $26.4 billion, marking a 59% increase year-over-year, and generated $13.5 billion in free cash flow, enabling further investments in quantum technology. Meanwhile, quantum computing stocks like IonQ and D-Wave Quantum have seen substantial price increases, with IonQ up over 400% and D-Wave over 1,000% in the past year as of August 29.
Nvidia’s superior valuation, indicated by a lower price-to-sales ratio compared to its quantum peers, positions it as a compelling choice for investors in the quantum computing sector.
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