Shares of Google (GOOG) soared more than 5% on Tuesday after the company unveiled a revolutionary new chip for quantum computing. Quantum computing is an emerging technology that is expected to eventually replace traditional computing.
In a blog post on Monday, Google said that a quantum computer powered by its new Willow chip could solve a mathematical equation that would take a traditional supercomputer 10 years, longer than the entire history of the universe, in just five minutes. He said he could.
Google says the chip eliminates a major bottleneck in the quantum computing field. Unlike traditional computers, which use bits or series of ones and zeros, quantum machines use qubits. Qubits are a function of quantum mechanics, and rather than being represented as 1 or 0, they can exist as both at the same time, allowing for far more processing power.
However, qubits are fragile and prone to errors. Even worse, the more qubits used in the equation, the more errors will occur. But Google says it managed to reduce these errors while increasing the amount of qubits used in its tests, a major step toward making quantum computers accurate enough for practical use.
Google isn’t the only major technology company making strides in quantum computing. Researchers at IBM (IBM) have been conducting similar research since the 1980s. Intel (INTC), Amazon (AMZN), Microsoft (MSFT), and Honeywell (HON) are also emerging market players.
Google said quantum computing has “promising applications in many fields,” from discovering new drugs and cybersecurity to accelerating progress in new energy alternatives.
Although the practical application of these technologies is not yet clear, the US government is increasing its support for quantum computing research. President Donald Trump signed the National Quantum Initiative Act in 2018, pledging $1.2 billion in federal funding for such projects. Under the Biden administration, the CHIPS and Science Act authorized funding for several federal quantum computing programs. Most recently, on December 3, a bipartisan group of U.S. senators introduced a bill to reauthorize the 2018 law, pledging an additional $2.7 billion for commercial quantum computing research. did.
Meanwhile, the New York Times reported that the Chinese government is spending more than $15 billion on quantum computing research.
A 2024 McKinsey study found that a majority (72%) of high-tech executives, investors, and executives surveyed believe that quantum computers that are “fully fault-tolerant,” or ready for practical use, will see the light of day. I answered that I would not see it. Until 2035 and beyond.
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