Shares of Quantum Computing Inc. (QUBT) surged 9.55% in the pre-market trading session on Monday, fueled by the excitement surrounding Google's latest advancement in quantum computing technology.
Google announced its groundbreaking Willow chip, which marks a significant milestone in the field of quantum computing. The Willow chip can reduce errors exponentially as more qubits are added, addressing a key challenge in quantum error correction that has been pursued for nearly three decades. Additionally, the chip performed a standard benchmark computation in under five minutes, a task that would take one of today's fastest supercomputers an astounding 10 septillion (10^25) years – vastly exceeding the age of the Universe.
This breakthrough has sparked renewed investor interest in the quantum computing sector, with companies like Quantum Computing Inc. at the forefront of developing these transformative technologies. As the world approaches 2025, designated as the United Nations International Year of Quantum Science and Technology, public awareness and investment in quantum technologies are expected to increase further, presenting significant opportunities for companies in this space.
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