Today’s News
Alphabet shares surged nearly 5% on Tuesday after Google unveiled its latest quantum computing chip, Willow, which the company claims has overcome a major challenge in the field.
Image Source: Reuters
The Willow chip reportedly solved a computing problem in just five minutes that would take a classical computer longer than the entire history of the universe to complete.
Tech companies are racing to develop quantum computing systems that can perform tasks far faster than traditional silicon-based computers. However, a key challenge in quantum computing is the issue of “qubits,” the building blocks of quantum systems, which are prone to errors.
The more qubits used, the higher the likelihood of errors. Google’s new Willow chip addresses this problem by stringing together qubits in a way that reduces errors as the number of qubits increases. Additionally, the chip is capable of correcting errors in real time.
“While there are no current uses, Willow could have major implications in fields like science, medicine, and finance. It reduces errors exponentially and could lead to breakthroughs across industries,” said Thomas Hayes, chairman of Great Hill Capital.
Image Source: Bloomberg, re-edited by Doo Prime
Alphabet’s stock, up 25% this year, is poised for its best day since late April. Despite the milestone, the company’s shares still trade at a lower price-to-earnings ratio (19.58) compared to rivals like Microsoft (32.03) and Amazon (36.79). Earlier this year, Microsoft, in partnership with quantum computing firm Quantinuum, announced a key achievement in improving the reliability of quantum computers for commercial use.
Other News
Markets Hold Breath Ahead of Key Data and Rate Cuts
Asian stocks and the dollar paused as investors awaited U.S. inflation data and Canada’s rate decision. Expectations are high for U.S. rate cuts, but a surprise in inflation could shift market sentiment.
EY Worker’s Death Sparks Push for White-Collar Labor Protections
The death of an EY executive due to overwork has prompted Indian states to tighten regulations protecting white-collar workers, and recent complaints have led to increased inspections and proposals.
Indian Shares Set for Flat Open Ahead of Inflation Data
Indian shares are expected to open flat on Wednesday as investors await crucial inflation data from both the U.S. and India. U.S. inflation data will influence the Federal Reserve’s rate outlook.
Risk Disclosure:
Securities, Futures, CFDs and other financial products involve high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding your initial investment could incur within a short period of time.
Please make sure you fully understand the risks of trading with the respective financial instrument before engaging in any transactions with us. You should seek independent professional advice if you do not understand the risks explained herein.
Disclaimer:
This information contained in this blog is for general reference only and is not intended as investment advice, a recommendation, an offer, or an invitation to buy or sell any financial instruments. It does not consider any specific recipient’s investment objectives or financial situation. Past performance references are not reliable indicators of future performance. Doo Prime and its affiliates make no representations or warranties about the accuracy or completeness of this information and accept no liability for any losses or damages resulting from its use or from any investments made based on it.
The above strategies reflect only the analysts’ opinions and are for reference only. They should not be used or considered as the basis for any trading decisions or as an invitation to engage in any transaction. Doo Prime does not guarantee the accuracy or completeness of this report and assumes no responsibility for any losses resulting from the use of this report. Do not rely on this report to replace your independent judgment. The market is risky, and investments should be made with caution.
