Microsoft (NASDAQ:MSFT) just unveiled a breakthrough in quantum computing, introducing a new chip built with what it calls a topological superconductoran entirely new state of matter that's neither solid, liquid, nor gas.

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Named Majorana 1, the chip features a topological core architecture that Microsoft says could accelerate industrial-scale quantum computing within years rather than decades. The goal? To create a million-qubit chip small enough to fit in the palm of a hand.

We took a step back and said, OK, let's invent the transistor for the quantum age,' said Chetan Nayak, Microsoft technical fellow. What properties does it need to have? That's how we got herethe right combination of materials, quality, and architecture that enables a new kind of qubit.

Microsoft emphasized that scalability is key to solving real-world quantum problems, and this chip provides a clear path to a million qubitssomething Nayak says is essential to avoid hitting a technological wall.

Following the announcement, quantum computing stocks bounced up, with companies in the sector seeing increased investor interest. Putting things into perspective, IONQ (NYSE:IONQ) stock rose to $34.53, gaining 1.74% as of 12:54 ET. Similarly, Rigetti Computing (NASDAQ:RGTI) stock surged 3.43% at the same time. Meanwhile, Quantum Computing (NASDAQ:QUBT) stock jumped 6.50% to $7.86 just a few minutes later, as of 13:00 ET.