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NoviqTech (ASX:NVQ) shares were +16% higher heading into late arvo trades as the company declared the successful launch of its “Quantum Intelligence” business, perhaps leaving investors to wonder if they mean in the sense of quantum science or the mathematical one.
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For all intents and purposes, all NoviqTech has done is wrapped up a ChatGPT-style chatbot and made that part of its business software.
That software is also somewhat interesting. It uses blockchain to track inventory assets so companies can better keep a record of provenance for whatever it is they may sell. On its website for Quantum Intelligence, the company also describes having products for finance firms, though it’s not entirely clear to this finance journalist what they might be.
With AI popping off, it makes sense a tech company wants to get in on the action – but the wording of Friday’s announcement did seem to ask more questions than answer them.
“This milestone marks the first step in bringing NoviqTech’s global-first hybrid quantum-classical ecosystem,” NoviqTech wrote on Friday.
If you know what that means, please send me an email.
But enough is happening here that the company could see more upside yet. The company did name NVIDIA three times, describing NoviqTech’s use of a NVIDIA-made software development program, which has been instrumental in designing the Quantum Intelligence product range.
No actual relationship to or with NVIDIA exists (as far as this HotCopper finance journalist can tell, at least), but it’s the kind of thing that could work in what is right now a delightfully risk-on market.
NVQ last traded at 3cps.
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