SEALSQ Corp (LAES) saw its stock soar 21.61% on Thursday, riding a wave of investor enthusiasm for quantum computing and post-quantum technology companies.
The rally was fueled by two key factors for the semiconductor and cryptography firm. First, SEALSQ announced that it expects to end 2024 with a strong cash position exceeding $85 million, following multiple registered direct offerings that raised $60 million in December. This influx of capital will help fund the company's ongoing work in quantum-resistant algorithms and semiconductors.
Secondly, SEALSQ revealed that 2025 is poised to be a landmark year as it advances its leadership position in post-quantum technologies. The company is collaborating with the National Institute of Standards and Technology (NIST) on developing quantum-resistant security solutions like a Post-Quantum USB Token. SEALSQ is also pioneering post-quantum semiconductor innovations that integrate hardware accelerators for lattice-based cryptography, ensuring efficient performance and protection against quantum threats.
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