AMD Shares Surge 8% Following IBMs Quantum Computing Announcement
Shares of American semiconductor company AMD jumped approximately 8% on the 24th (local time) as investors flocked to buy following reports that IBM can run a quantum computing error correction algorithm using AMDs chips.
Reuters reported that a paper demonstrating IBMs capability to use AMDs FPGA chips for running error correction algorithms is set to be released next week. As a result, IBMs stock also rose by about 8%, marking its largest increase since January of this year.
In August, IBM and AMD announced a collaboration to jointly develop and integrate quantum computing technologies. IBM has plans to showcase a large-scale, fault-tolerant quantum computer by 2029. The company regards this advancement as a significant milestone on a clear roadmap toward its 2029 goal.
IBM stated in a press release, "Developing a design solution that allows for large-scale implementation without expensive GPU clusters is a crucial achievement for practical quantum computer expansion."
Quantum computing is a technology that solves complex problems that traditional computers cannot handle by utilizing principles of quantum mechanics. In addition to IBM, global tech giants such as Google, Microsoft, and Amazon are actively entering this market.
Microsoft unveiled its first quantum computing chip last year, while Google introduced an innovative quantum chip named Willow. Amid this trend, quantum-related stocks such as D-Wave Quantum and Rigetti Computing also saw gains on the same day.
Meanwhile, the Trump administration responded to reports from some foreign media stating that the U.S. government is discussing the acquisition of stakes in quantum computing companies.
Reuters reported that a paper demonstrating IBMs capability to use AMDs FPGA chips for running error correction algorithms is set to be released next week. As a result, IBMs stock also rose by about 8%, marking its largest increase since January of this year.
In August, IBM and AMD announced a collaboration to jointly develop and integrate quantum computing technologies. IBM has plans to showcase a large-scale, fault-tolerant quantum computer by 2029. The company regards this advancement as a significant milestone on a clear roadmap toward its 2029 goal.
IBM stated in a press release, "Developing a design solution that allows for large-scale implementation without expensive GPU clusters is a crucial achievement for practical quantum computer expansion."
Quantum computing is a technology that solves complex problems that traditional computers cannot handle by utilizing principles of quantum mechanics. In addition to IBM, global tech giants such as Google, Microsoft, and Amazon are actively entering this market.
Microsoft unveiled its first quantum computing chip last year, while Google introduced an innovative quantum chip named Willow. Amid this trend, quantum-related stocks such as D-Wave Quantum and Rigetti Computing also saw gains on the same day.
Meanwhile, the Trump administration responded to reports from some foreign media stating that the U.S. government is discussing the acquisition of stakes in quantum computing companies.
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