Quantum Computing Inc. (NASDAQ:QUBT) saw an 8.27% increase in share prices on Tuesday, closing at $16.89 per share after securing a new deal from the US Department of Commerce for thin-film lithium niobate photonic integrated circuits.

Under the agreement, QUBT will design and fabricate TFLN-based PICs with a focus on low optical-loss waveguides, high-performance modulators, and narrow-band filters.

This new government contract marks a significant milestone for Quantum Computing Inc. as it aims to establish itself as a trusted supplier of advanced photonic technologies.

QUBT’s CEO expressed pride in delivering advanced photonic solutions and gaining a Fortune 500 defense and technology contractor as a customer, highlighting the broad applicability of their TFLN platform in high-security environments.

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Read more at Yahoo Finance: Quantum Computing (QUBT) Climbs 8% on New Govt Deal