Skip to content
Options Trading Report

Options Trading Report

Primary Menu
  • Home
  • Business
  • Domestic
  • Economy
  • Money
  • Top News
  • Newsletters
  • Home
  • 2024
  • December
  • Google parent Alphabet jumps on quantum chip breakthrough
  • Business

Google parent Alphabet jumps on quantum chip breakthrough

Editor December 10, 2024
2024-12-10T163158Z_1_LYNXMPEKB90QD_RTROPTP_4_ALPHABET-RESULTS

(Reuters) – Shares of Google parent Alphabet rose about 5% on Tuesday after it unveiled a new generation chip that the company said helped overcome a key challenge in quantum computing.

Google on Monday introduced a new chip called Willow, which solved in five minutes a computing problem that would take a classical computer more time than the history of the universe.

Tech companies are chasing quantum computing in hopes of developing systems that perform at speeds far faster than traditional silicon-based computers.

The building blocks of quantum computers, called “qubits”, while being fast, are error-prone, making it hard to ensure quantum computers are reliable and commercially viable.

The more qubits used in quantum computing, the more errors typically occur. But Google said on Monday it found a way to string together qubits in the Willow chip so that error rates decline as the number of qubits rise, adding that it can also correct errors in real time.

“While (there are) no current uses, (Willow) will have major implications in science, medicine and finance. Willow reduces errors exponentially and could lead to major breakthroughs and discoveries across industries,” said Thomas Hayes, chairman and managing member at Great Hill Capital.

Alphabet’s shares were on track for their best day since late April. The stock has risen 25% so far this year, as of Monday’s close.

The company’s shares trade at a 12-month forward price-to-earnings ratio of 19.58, compared with Microsoft’s 32.03 and Amazon’s 36.79, according to data compiled by LSEG.

Earlier this year, Microsoft and quantum computing firm Quantinuum said they achieved a key step in making quantum computers a commercial reality by making them more reliable.

(Reporting by Deborah Sophia in Bengaluru; Editing by Shounak Dasgupta)


About the Author

Editor

Administrator

Author's website Author's posts

Continue Reading

Previous: Lilly CEO says tax and regulation reform, drug affordability are focuses under Trump
Next: Apple to bring satellite communications to smartwatch next year, Bloomberg News reports

Related Stories

2025-07-18T175917Z_3_LYNXMPEL6H05W_RTROPTP_4_BP-RESULTS
  • Business

BP to sell US onshore wind business to LS Power for undisclosed sum

Editor July 18, 2025
2025-07-18T211759Z_2_LYNXMPEL6H0FQ_RTROPTP_4_EU-AI
  • Business

AI models with systemic risks given pointers on how to comply with EU AI rules

Editor July 18, 2025
2025-07-18T212945Z_1_LYNXMPEL6H112_RTROPTP_4_USA-STOCKS
  • Business

Cryptocurrency firm Bullish files for US IPO

Editor July 18, 2025

Live Market Pulse

The charting technology is provided by TradingView. Learn how to use theTradingView Stock Screener.

Want More Market News?
Add your email address below to get up to date market news and more!
By submitting the form you agree to the Privacy Policy of Options Trading Report and agree to receive our email updates and special offers. As a bonus, you will also get a free subscription to MTA Trade of the Day, Privacy Policy. You will receive special offers and advertisements from Options Trading Report and MTA Trade of the Day and our affiliates. You may unsubscribe at any time.

Search

Recent Posts

  • Cryptocurrency firm Bullish files for US IPO
  • BP to sell US onshore wind business to LS Power for undisclosed sum
  • AI models with systemic risks given pointers on how to comply with EU AI rules
  • Invesco shares reach 2-year high after filing to reclassify $360 billion ETF
  • Cryptocurrency firm Bullish files for US IPO

Categories

  • Business
  • Market News
  • Newsletters
  • Options
  • Reflections

You may have missed

  • Newsletters

Cryptocurrency firm Bullish files for US IPO

Editor July 18, 2025
2025-07-18T175917Z_3_LYNXMPEL6H05W_RTROPTP_4_BP-RESULTS
  • Business

BP to sell US onshore wind business to LS Power for undisclosed sum

Editor July 18, 2025
2025-07-18T211759Z_2_LYNXMPEL6H0FQ_RTROPTP_4_EU-AI
  • Business

AI models with systemic risks given pointers on how to comply with EU AI rules

Editor July 18, 2025

Invesco shares reach 2-year high after filing to reclassify $360 billion ETF

Editor July 18, 2025
  • Home
  • Terms of Service
  • Privacy Policy
  • Disclaimer
  • Contact Us
Copyright 2025 © All rights reserved | Options Trading Report | optionstradingreport.com