Google’s revolutionary quantum chip ‘Willow’ drives shares up
Alphabet shares rose Tuesday following Google’ s announcement of a new chip designed to advance quantum computing. Google claims that this chip, called Willow, significantly reduces errors that have long hindered the development of commercially viable quantum computing.
The company stated in a blog post that Willow could complete in five minutes a computation that traditional supercomputers would take thousands of years to complete. This breakthrough holds promise for various applications such as drug discovery, security and encryption.
Quantum computing is still in its early stages, but it uses the principles of quantum mechanics to solve problems beyond the capabilities of conventional computers. While traditional computers use binary codes (bits) consisting of ones and zeros, quantum computers use qubits that can store information in a superposition, displaying both zero and one simultaneously.
This development reminds Google of its ongoing innovation in advanced technology. Elon Musk expressed his admiration on social media with the comment “Wow” in response to Alphabet CEO Sundar Pichai’s announcement. Alphabet shares rose 5.3% Tuesday to $186.30. At time of writing shares have continued this upward trajectory and are trading at $192.74.
Despite this positive market reaction, the impact on Google’s business in the near future is likely to be minimal. It will be several years before quantum computers are commercially available . Currently, Alphabet’s market value stands at $2.3 trillion, significantly lower than AI giant Nvidia, which closed 2.7 percent lower at $3.3 trillion.
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