Shares of both AMD and IBM soared on Friday after a report revealed a breakthrough in their partnership to develop quantum computing. A new scientific paper will be published next week showing that IBM can now run a key quantum computing algorithm on AMD’s powerful chips.
The news sent AMD’s stock up more than 6%, while IBM’s jumped about 6%. The report is a big deal because it shows that the two companies are making real progress in their joint effort to build the next generation of supercomputers. They first announced their partnership back in August, and IBM has said it plans to have a full-fledged quantum computer operational by 2029.
Quantum computing is a revolutionary technology that could one day solve problems that even the most powerful traditional computers cannot. Tech giants like Google, Microsoft, and Amazon are all in a race to be the first to crack it. This new development from IBM and AMD is a significant step forward in that race.
The news has also brought a fresh wave of excitement to the entire quantum computing sector, with the stocks of other smaller quantum companies also climbing on Friday. It’s another sign that the quantum revolution, long a sci-fi dream, is getting closer to becoming a reality.
