Quantum computing stocks rise as Microsoft's new chip heats up debate over technology
Quantum computing stocks rose in premarket trading on Thursday after Microsoft launched a new chip that indicated the technology is not «decades away» as stated by the top boss of AI chip bellwether Nvidia.
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Microsoft unveiled its Majorana 1 chip on Wednesday and said it is less prone to errors than rivals, while providing evidence in a scientific paper set to be published in academic journal Nature.
Quantum computing holds the promise of carrying out calculations that would take today's systems millions of years. If successful the technology could also potentially disrupt today's cybersecurity systems.
Shares of IonQ gained 4.6%, Rigetti Computing 9.4% and D-Wave Quantum 8.7%, while those of smaller peers Quantum Corp added 4.8% and Quantum Computing 8.8%.
Shares of Microsoft edged up 0.3%, while Nvidia inched up 0.2%.
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