D-Wave Quantum Inc. (QBTS) stock rallied 5.2% in pre-market trading on Thursday, as the broader quantum computing sector surged on Microsoft's unveiling of its first quantum computing chip, called Majorana 1.
Microsoft's breakthrough is considered a significant step forward in the development of practical quantum computers that could eventually solve complex problems beyond the capabilities of modern classical computers. The tech giant's quantum chip harnesses 8 qubits (quantum bits) on a small piece of hardware, with plans to scale up to potentially 1 million qubits.
The announcement fueled investor optimism around the prospects of quantum computing companies like D-Wave Quantum, which specializes in developing and delivering quantum computing systems and software. With Microsoft making strides in this emerging field, it could accelerate the commercialization of quantum computing applications across various industries, including chemistry, healthcare, and data processing.
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