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Microsoft Creates Buzz in Quantum Realm: 3 Stocks to Watch
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Microsoft (MSFT - Free Report) is unveiling a groundbreaking advancement in quantum computing that promises to revolutionize the field through a collaboration with Quantinuum.
Quantum computing relies on qubits for information storage and processing. However, current qubits are susceptible to errors, limiting their practicality. Microsoft's approach involves improving the quality of physical qubits and employing advanced techniques to create more reliable virtual qubits, known as logical qubits.
Microsoft's achievement stems from coupling its qubit-virtualization system with Quantinuum’s specialized hardware. The team successfully performed multiple active syndrome extractions without destroying the logical qubits. This crucial capability allows for longer and more complex computations without failure, marking a fundamental milestone in quantum error correction.
By combining Microsoft's system with Quantinuum’s H-Series ion-trap qubits and unique Quantum Charged Coupled Device architecture, the team claims to have achieved a remarkable two-qubit gate fidelity of 99.8%. This collaboration resulted in the creation of four highly reliable logical qubits from only 30 physical qubits, showcasing an 800-fold improvement in error rates.
Integrating these highly reliable logical qubits into Azure Quantum Elements promises a truly hybrid computing experience, combining cloud high-performance computing with advanced AI models and improved quantum-computing capabilities. Microsoft's pursuit of reliable quantum computing continues with the development of topological qubits, aiming to reach error rates of less than one error for every 100 million operations.
The company’s achievement meets three fundamental criteria for advancing from noisy, intermediate-scale quantum computing to reliable quantum computing. This includes achieving a large separation between logical and physical error rates, correcting individual circuit errors and generating entanglement between logical qubits. With this breakthrough, Microsoft has demonstrated active syndrome extraction on two logical qubits, marking the transition to reliable quantum computing.
Year-to-date Performance
Image Source: Zacks Investment Research
Other Tech Giants Boosting Competitive Strength in Quantum Computing
Per MarketandMarkets report, the quantum computing market size is valued at $1.3 billion in 2024. It is anticipated to be $5.3 billion by 2029, witnessing a CAGR of 32.7% during the forecasted period. This imples bright growth prospects for tech giants, including Microsoft, International Business Machines (IBM - Free Report) , IonQ (IONQ - Free Report) and Rigetti Computing (RGTI - Free Report) , among others, competing to create machines that take advantage of quantum mechanics to promise speeds far faster than conventional silicon-based computers.
Through the IBM Quantum Network, IBM has collaborated with more than 250 Fortune 500 companies, universities, labs and startups. Recently, this Zacks Rank #2 (Buy) company introduced the IBM Quantum Heron, marking the first in a new series of utility-scale quantum processors. Engineered over four years, it boasts IBM’s highest performance metrics and lowest error rates among its quantum processors.
Furthermore, IBM unveiled the Quantum System Two, its inaugural modular quantum computer. The system is operational with three IBM Heron processors and associated control electronics, representing a significant step in its quantum-centric supercomputing architecture. The Zacks Consensus Estimate for IBM’s 2024 earnings is pegged at $10.07 per share, unchanged in the past 30 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Rigetti Computing is at the forefront of the quantum computing field. Recently, Rigetti deployed the 84-qubit Ankaa-2 quantum computer, with a 2.5X improvement in error performance compared to the company’s previous QPUs and achieved a 98% median 2-qubit fidelity. The company also launched the Novera QPU, a 9-qubit quantum processor unit available for integration into customers’ on-premise systems.
Rigetti and Riverlane, the global leader in quantum error correction technology, announced their participation in a project led by the U.S. Department of Energy’s Oak Ridge National Laboratory to explore the challenges of integrating a quantum computer with a large-scale supercomputing centre. This Zacks Rank #2 company has also started a new project with the help of an Innovate U.K. grant. The main goal of this project is to create quantum machine learning methods for looking at streams of financial data. The Zacks Consensus Estimate for RGTI’s 2024 loss has narrowed by 2 cents to 33 cents per share in the past 30 days.
IonQ is one of the prominent providers of quantum computing and general-purpose quantum computing systems. Recently, IonQ established its first quantum manufacturing facility in the country in Seattle, WA. Last month, IonQ inked a deal with South Carolina Quantum (SC Quantum). Per the agreement, this Zacks Rank #3 (Hold) company and SC Quantum will work together for the advancement of the quantum ecosystem in South Carolina.
IONQ’s latest quantum computer, IonQ Forte, was made available on Amazon Braket, which is Amazon Web Services’ quantum computing service, in the fourth quarter of 2023. The Zacks Consensus Estimate for IONQ’s 2024 loss has remained steady at $1.24 per share in the past 30 days.
Microsoft's pursuit of reliable quantum computing continues with the development of topological qubits, aiming to reach error rates of less than one error for every 100 million operations. This Zacks Rank #3 company aims to enhance its competitiveness in the tech industry by integrating highly reliable logical qubits into Azure Quantum Elements. It promises a truly hybrid computing experience, combining cloud high-performance computing with advanced AI models and improved quantum-computing capabilities. The Zacks Consensus Estimate for MSFT’s fiscal 2024 earnings has remained steady at $11.63 per share in the past 30 days.
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Microsoft Creates Buzz in Quantum Realm: 3 Stocks to Watch
Microsoft (MSFT - Free Report) is unveiling a groundbreaking advancement in quantum computing that promises to revolutionize the field through a collaboration with Quantinuum.
Quantum computing relies on qubits for information storage and processing. However, current qubits are susceptible to errors, limiting their practicality. Microsoft's approach involves improving the quality of physical qubits and employing advanced techniques to create more reliable virtual qubits, known as logical qubits.
Microsoft's achievement stems from coupling its qubit-virtualization system with Quantinuum’s specialized hardware. The team successfully performed multiple active syndrome extractions without destroying the logical qubits. This crucial capability allows for longer and more complex computations without failure, marking a fundamental milestone in quantum error correction.
By combining Microsoft's system with Quantinuum’s H-Series ion-trap qubits and unique Quantum Charged Coupled Device architecture, the team claims to have achieved a remarkable two-qubit gate fidelity of 99.8%. This collaboration resulted in the creation of four highly reliable logical qubits from only 30 physical qubits, showcasing an 800-fold improvement in error rates.
Integrating these highly reliable logical qubits into Azure Quantum Elements promises a truly hybrid computing experience, combining cloud high-performance computing with advanced AI models and improved quantum-computing capabilities. Microsoft's pursuit of reliable quantum computing continues with the development of topological qubits, aiming to reach error rates of less than one error for every 100 million operations.
The company’s achievement meets three fundamental criteria for advancing from noisy, intermediate-scale quantum computing to reliable quantum computing. This includes achieving a large separation between logical and physical error rates, correcting individual circuit errors and generating entanglement between logical qubits. With this breakthrough, Microsoft has demonstrated active syndrome extraction on two logical qubits, marking the transition to reliable quantum computing.
Year-to-date Performance
Image Source: Zacks Investment Research
Other Tech Giants Boosting Competitive Strength in Quantum Computing
Per MarketandMarkets report, the quantum computing market size is valued at $1.3 billion in 2024. It is anticipated to be $5.3 billion by 2029, witnessing a CAGR of 32.7% during the forecasted period. This imples bright growth prospects for tech giants, including Microsoft, International Business Machines (IBM - Free Report) , IonQ (IONQ - Free Report) and Rigetti Computing (RGTI - Free Report) , among others, competing to create machines that take advantage of quantum mechanics to promise speeds far faster than conventional silicon-based computers.
Through the IBM Quantum Network, IBM has collaborated with more than 250 Fortune 500 companies, universities, labs and startups. Recently, this Zacks Rank #2 (Buy) company introduced the IBM Quantum Heron, marking the first in a new series of utility-scale quantum processors. Engineered over four years, it boasts IBM’s highest performance metrics and lowest error rates among its quantum processors.
Furthermore, IBM unveiled the Quantum System Two, its inaugural modular quantum computer. The system is operational with three IBM Heron processors and associated control electronics, representing a significant step in its quantum-centric supercomputing architecture. The Zacks Consensus Estimate for IBM’s 2024 earnings is pegged at $10.07 per share, unchanged in the past 30 days. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Rigetti Computing is at the forefront of the quantum computing field. Recently, Rigetti deployed the 84-qubit Ankaa-2 quantum computer, with a 2.5X improvement in error performance compared to the company’s previous QPUs and achieved a 98% median 2-qubit fidelity. The company also launched the Novera QPU, a 9-qubit quantum processor unit available for integration into customers’ on-premise systems.
Rigetti and Riverlane, the global leader in quantum error correction technology, announced their participation in a project led by the U.S. Department of Energy’s Oak Ridge National Laboratory to explore the challenges of integrating a quantum computer with a large-scale supercomputing centre. This Zacks Rank #2 company has also started a new project with the help of an Innovate U.K. grant. The main goal of this project is to create quantum machine learning methods for looking at streams of financial data. The Zacks Consensus Estimate for RGTI’s 2024 loss has narrowed by 2 cents to 33 cents per share in the past 30 days.
IonQ is one of the prominent providers of quantum computing and general-purpose quantum computing systems. Recently, IonQ established its first quantum manufacturing facility in the country in Seattle, WA. Last month, IonQ inked a deal with South Carolina Quantum (SC Quantum). Per the agreement, this Zacks Rank #3 (Hold) company and SC Quantum will work together for the advancement of the quantum ecosystem in South Carolina.
IONQ’s latest quantum computer, IonQ Forte, was made available on Amazon Braket, which is Amazon Web Services’ quantum computing service, in the fourth quarter of 2023. The Zacks Consensus Estimate for IONQ’s 2024 loss has remained steady at $1.24 per share in the past 30 days.
Microsoft's pursuit of reliable quantum computing continues with the development of topological qubits, aiming to reach error rates of less than one error for every 100 million operations. This Zacks Rank #3 company aims to enhance its competitiveness in the tech industry by integrating highly reliable logical qubits into Azure Quantum Elements. It promises a truly hybrid computing experience, combining cloud high-performance computing with advanced AI models and improved quantum-computing capabilities. The Zacks Consensus Estimate for MSFT’s fiscal 2024 earnings has remained steady at $11.63 per share in the past 30 days.