Google’s stock price soared by over 5% on Tuesday following the company’s announcement of a groundbreaking quantum computing chip named Willow. This innovative technology was presented in a blog post on Monday, where Google highlighted the chip’s ability to solve a complex mathematical problem that would take traditional supercomputers up to 10 septillion years—longer than the entire history of the universe—just five minutes.
The Willow chip represents a significant advancement in quantum computing, which diverges from classical computing by utilizing qubits instead of standard bits (1s and 0s). Qubits can exist in multiple states simultaneously, enabling enhanced processing capabilities. However, they are notably delicate and can generate errors, particularly as more qubits are employed. Google claims to have made strides in reducing these errors while also increasing the number of qubits used, marking a crucial step towards achieving practical quantum computing.
Google is not alone in its pursuit of advancements in quantum technology; other tech giants like IBM, Intel, Amazon, Microsoft, and Honeywell are also engaged in this burgeoning field. The potential of quantum computing is vast, with applications ranging from drug discovery and renewable energy advancements to enhanced cybersecurity measures.
At the same time, the U.S. government is boosting support for quantum research. The National Quantum Initiative Act, signed into law by former President Trump in 2018, allocated $1.2 billion in federal funding. Under President Biden, the CHIPS and Science Act further authorized funding for various quantum computing projects. Recently, bipartisan senators reintroduced legislation to reauthorize the 2018 initiative, proposing an additional $2.7 billion for research in this area. In comparison, reports suggest that China is investing more than $15 billion in similar research efforts.
A recent McKinsey survey indicated that a majority (72%) of technology executives and investors believe fully fault-tolerant quantum computers won’t be operational until after 2035, revealing the challenges that still lie ahead.
In summary, Google’s successful unveiling of the Willow chip not only propels its stock upward but also positions the company as a leader in the competitive and promising field of quantum computing. This development underscores the exciting potential of quantum technologies to revolutionize various sectors in the future. As research and investment in quantum computing continue to grow, there is reason to hope that practical applications may soon be realized, benefiting society as a whole.