Official announcements from major quantum computing companies

Google's 105-Qubit Willow Chip Outpaces Supercomputers, Sparks Quantum Computing Stock Surge

Dec 11, 2024, 02:50 PM

Google has unveiled a new quantum computing chip named Willow, which represents a significant leap forward in the field. The 105-qubit chip can perform complex computations in just five minutes that would take the most powerful supercomputers over 10 septillion years to complete. This breakthrough is attributed to advancements in error correction, allowing the chip to handle problems that were previously beyond the reach of classical computers. Bank of America has reiterated its 'Buy' rating on Alphabet Inc., Google's parent company, with a $210 price target, citing Willow's potential to build a 'tech moat' around quantum computing. The announcement has sparked interest in quantum computing stocks, with companies like IonQ, Rigetti Computing, Quantum Computing Inc., and D-Wave Quantum seeing potential long-term investment opportunities. However, the immediate impact on markets like Bitcoin appears limited, as experts suggest that quantum computers capable of breaking blockchain encryption are still far off, and quantum-resistant technologies are already in development.