Stock market data from reliable financial platforms like Bloomberg or Yahoo Finance

Google's 105-Qubit Willow Chip: A Quantum Leap in Computing, No Threat to Bitcoin

Dec 11, 2024, 01:46 PM

Google has unveiled its latest quantum computing chip named Willow, a 105-qubit chip that represents a significant leap in quantum computing technology. The Willow chip boasts enhanced error correction capabilities and has demonstrated the ability to solve complex problems in a fraction of the time it would take the world's fastest supercomputers. According to Google Quantum AI Founder Hartmut Neven, Willow can complete calculations in just five minutes that would take a classical supercomputer 10 septillion years. This breakthrough has led to speculation about the existence of multiple universes due to its computational prowess. Bank of America has reiterated a 'Buy' rating on Google's stock ($GOOGL) with a $210 price target, citing the potential for Willow to create a 'tech moat' around quantum computing. Despite its impressive capabilities, experts suggest that practical applications for Willow are still years away, and it does not pose an immediate threat to blockchain encryption, such as that used by Bitcoin. Quantum-resistant technology is being developed to mitigate future risks, and Google's stock price saw a more than 5% increase following the announcement.