Amazon.com raised the curtain on its first quantum computing chip on Thursday, following moves by Microsoft and Google, both of which have staked their claims in the sector.

Amazon Web Services introduced the Ocelot chip in a blog post, coinciding with an article published in the journal Nature. The chip, a research prototype, isn't commercially available.

Ocelot's name is derived from its reliance on so-called cat qubits, which can exist in multiple states at once like the simultaneously dead-and-alive cat in Schrödinger's thought experiment. They address a longstanding problem in quantum computing.

Quantum computers use quantum bits to transmit information, taking the form of subatomic particles like photons or electrons. These particles are particularly sensitive to environmental disturbances, which can affect how well a quantum computer performs calculations.

As more qubits are added to a system, the error rate is likely to increase as the probability of encountering disruptions grows. The need for error correction remains one of biggest hang-ups in development of the technology.

Cat qubits suppress bit flip errors, which occur when a qubit inadvertently switches from one state to another. This built-in feature reduces the resources required for error correction, the Amazon team said.

"We believe that if we're going to make practical quantum computers, quantum error correction needs to come first," said Oskar Painter, head of quantum hardware at AWS. Rather than "take an existing architecture and then try to incorporate error correction afterwards," the team selected its architecture with error correction in mind.

Painter and Fernando Brandao, Amazon's director of quantum applications, said in a blog post that traditional methods of error correction push the limits of quantum technology. A "commercially relevant quantum computer" would require millions of physical quantum bits, or qubits, to fix mistakes, which is "many orders of magnitude beyond the qubit count of current hardware," they said.

The company emphasized that Ocelot was just a prototype, but nonetheless called it a "promising start."

Microsoft revealed its own quantum chip, Majorana 1, last week. With the advent of Majorana 1, Microsoft demonstrated its ability to create a new type of matter -- it isn't a solid, liquid or gas, but a "topological state" -- that is harnessed to produce more reliable qubits.

The company published its own paper in Nature on Feb. 19, detailing how researchers created and measured the topological qubit's exotic quantum properties.

Google, owned by Alphabet, introduced its Willow quantum chip back in December. Researchers in its Quantum AI division were able to achieve an exponential reduction in the error rate as they tested larger grids of qubits.

The Amazon announcement signals yet again that big companies, not just start-ups and smaller pure plays, are interested in quantum computing. Enthusiasm from investors and financial advisors continues to build.

Still, it isn't easy for companies in the business. IonQ, one of several pure-play quantum-computing stocks, reported Wednesday that while full-year revenue nearly doubled from the previous year, the company's cash reserves declined to $363.8 million as it continues to grow.

IONQ Inc. also said it has appointed a new CEO, effective immediately. Shares slumped 17% on Thursday.

Peer stocks also were underperforming the market as the S&P 500 fell 1.6%. D-Wave Quantum Inc. was down 9%, while Rigetti Computing and Quantum Computing Inc. fell 13% and 10% respectively.

Amazon.com was down 3%.