What's Going On With Amplitech Shares Wednesday?

Amplitech Group, Inc. AMPG shares are trading higher on Wednesday after the company announced the development and deployment of its proprietary low-noise cryogenic High Electron Mobility Transistor amplifiers.

The Details: These amplifiers play a critical role in enabling quantum computers to operate efficiently at extremely low temperatures of 4 Kelvin (-452°F), a prerequisite for high-quality quantum operations. 

“We are thrilled to be a key enabler in the quantum computing revolution,” said Fawad Maqbool, CEO of AmpliTech Group.

“Our cryogenic LNAs set the gold standard for performance, efficiency, and noise reduction, empowering global leaders to push the boundaries of quantum technology. By being the only high-performance U.S. manufacturer offering this critical component at 4K temperatures, AmpliTech is committed to driving domestic innovation and supporting advancements in AI and quantum science.” 

The company has delivered these amplifiers to two Fortune 50 companies as well as universities and research institutions. In addition, the United States Patent and Trademark Office has issued a Notice of Allowance for Amplitech’s patent application related to their cryogenic solution for Quantum Computing Applications.

Amplitech stock is trading at 135.18 million shares, above its usual volume. The company's average session volume over the past 100 days is 127 thousand shares.

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AMPG Price Action: At the time of writing, Amplitech shares are trading 105.6% higher at $2.04, according to data from Benzinga Pro.

Image: 5782411 from Pixabay.