Shares of Alphabet Inc., Google’s parent company, climbed by approximately 5% on Tuesday following the introduction of a new quantum computing chip, ‘Willow’. The chip promises to overcome a major challenge in quantum computing: error rates in quantum calculations.
Key Highlights of Willow Chip
- Google claims Willow solved a complex computing problem in just five minutes, a task that would take a classical computer longer than the age of the universe.
- Willow addresses a critical issue in quantum computing: as the number of qubits increases, errors typically multiply.
- Google’s innovation allows for real-time error correction, meaning that error rates decline even as more qubits are used.
Industry Impact and Future Potential
Although there are no immediate commercial applications, experts see vast potential. Thomas Hayes, Chairman of Great Hill Capital, noted:
“Willow reduces errors exponentially and could lead to breakthroughs and discoveries across industries like science, medicine, and finance.”
Market Performance
- Alphabet’s shares were set for their best performance since April and have increased by 25% this year as of Monday.
- Competing companies like Microsoft and Quantinuum are also making strides toward making quantum computing commercially viable.
This breakthrough underscores the fierce competition among tech giants to achieve quantum supremacy and revolutionize computation speeds and capabilities.
