AMD stock pops on report IBM can use its chips for quantum computing
Advanced Micro Devices Inc. (AMD) president and chief executive officer Lisa Su during a fireside chat at the Indian Institute of Science (IISc) in Bengaluru, India, on Thursday, Nov. 21, 2024.
Gabriela Bhaskar | Bloomberg | Getty Images
shares Advanced Micro Devices jumped more than 6% on a report IBM’s could use the company’s chips to run certain quantum computing algorithms.
IBM shares gained nearly 8%, heading for their best day since January.
Reuters reported On Friday, it was reported that a paper will be published next week showing that IBM can run a quantum error correction algorithm on AMD’s field-programmable gate array chips.
Representatives for AMD and IBM did not immediately respond to requests for comment.
In August, the two companies announced a deal. improving quantum computing capabilities and we integrate technologies. IBM has also stated that it plans to launch a quantum computer by 2029.
The technology uses quantum mechanics to solve problems that traditional computers cannot solve. Technology giants are like this Google, Microsoft And Amazon they are also racing to develop quantum computing.
Last year, Microsoft released its first quantum computing chip, while Google released the groundbreaking WIllow. A senior quantum executive at the internet search company told CNBC in March that the technology is “five years away from a real takeoff.”
Various announcements have renewed interest in the quantum field and boosted stocks. D-Wave Quantum, Rigetti ComputerAnd IonQThey all climbed on Friday.
The Trump administration on Thursday denied a report that it was negotiating for shares in quantum companies.
WRISTWATCH: Commerce Department denies it is currently in talks for stakes in quantum companies
