D-Wave Quantum Inc. (QBTS) stock surged 13% in intraday trading on Thursday, fueled by investor optimism around the prospects of quantum computing. The rally came after Microsoft unveiled its first quantum computing chip, called Majorana 1, marking a significant milestone in the development of practical quantum computers.
Microsoft's breakthrough chip harnesses 8 qubits (quantum bits) on a small piece of hardware, with plans to scale up to potentially 1 million qubits. This achievement is considered a major step forward in quantum computing, which could eventually solve complex problems beyond the capabilities of modern classical computers.
The announcement fueled investor enthusiasm for quantum computing companies like D-Wave Quantum, which specializes in developing and delivering quantum computing systems and software. As Microsoft makes 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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