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Alphabet's Stock Jumps 5% After Willow Quantum Chip Breakthrough

Dec 10, 2024, 06:39 PM

Alphabet Inc., the parent company of Google, experienced a significant surge in its stock price, climbing over 5% after unveiling its new Willow quantum chip on Monday. This development in quantum computing was described by the company as a 'breakthrough', with the chip's capabilities allowing it to solve a mathematical equation that would take a classical supercomputer longer than the entire history of the universe to compute. The announcement led to Alphabet's shares jumping the most since October, adding $136 billion in market value. Analysts have applauded the advancement, which positions Alphabet at the forefront of quantum computing technology.