Google’s stock rose more than 5% on Tuesday after the company announced a new chip that it said is a significant advance in quantum computing. Quantum computing is a developing technology that uses special “qubits” instead of regular computer bits, and it could one day solve problems that would take a standard computer billions of years.
Google said its new Willow chip can handle a mathematical problem in just five minutes that would take a traditional supercomputer about 10 septillion (10 trillion trillion) years to solve. According to Google, the chip can reduce errors that have long held back quantum machines while increasing the number of qubits used. This could move the industry closer to building useful, practical quantum computers for the real world.
Google is not alone in this race. IBM, Intel, Amazon, Microsoft, and Honeywell are also working on quantum computing. Many experts believe quantum computers could change fields like drug discovery, energy research, and cybersecurity once fully developed.
The U.S. government has been increasing its support for quantum computing. In 2018, funding of $1.2 billion was approved for quantum projects. Under the Biden administration, the CHIPS and Science Act also supported federal quantum programs. More recently, in December, a bipartisan group of U.S. senators introduced a bill that would add another $2.7 billion for research to make quantum computers practical. China is also investing heavily, with more than $15 billion reportedly spent on quantum computing research.
Despite this progress, quantum computing is still in its early stages. A 2024 McKinsey survey found that 72% of tech executives, investors, and other leaders think fully reliable quantum computers won’t be ready until after 2035.
Still, some companies are preparing for the future. Apple, for example, improved its iMessage security to protect against possible quantum computer attacks.
With this increase, Google’s parent company stock is up 32% so far this year.
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