Google's Quantum Chip: Revolution in Sight?

The stock price of Google rose by 4% at midday on Tuesday after the company presented a new chip the day before, which is seen as a breakthrough in quantum computer technology. This new technology could one day replace conventional computing methods. Google stated in a blog entry that a mathematical equation that would take a classical supercomputer longer than the entire history of the universe — 10 septillion years — to solve, can be solved in just five minutes with a quantum computer powered by the new 'Willow' chip. Shares of the parent company Alphabet rose at times by 6% on Tuesday morning before giving up some of the gains. According to Google, the chip eliminated a significant bottleneck in the field of quantum computing. Unlike traditional computers that use bits or series of 1s and 0s, quantum machines operate with qubits. Qubits are a phenomenon of quantum mechanics and can exist simultaneously as 1 and 0, enabling much greater processing capacities. However, qubits are fragile and tend to produce errors. The more qubits used in an equation, the more errors occur. Google claims, however, to be able to reduce errors while simultaneously increasing the number of qubits in tests — an important step towards the practical use of quantum computers. Google is not the only major technology company seeking advances in quantum computing. Research in this area has been conducted by IBM since the 1980s. Intel, Amazon, Microsoft, and Honeywell are also active in this emerging market. Google stated that quantum computing has promising applications in many fields, from the discovery of new drugs to accelerating the development of new energy alternatives to cybersecurity. While these practical applications are still awaited, the US government is increasing its support for quantum computing research. In 2018, President Trump signed the National Quantum Initiative Act, which provides $1.2 billion in federal funds for such projects. Under Biden, the CHIPS and Science Act authorized funding for a handful of federal quantum computing programs. Most recently, on December 3, a group of bipartisan US senators introduced a bill that would renew the 2018 act and provide an additional $2.7 billion for quantum computing research to develop practical applications. Meanwhile, the Chinese government is investing more than $15 billion in quantum computing research, as reported by the New York Times. In a survey conducted by McKinsey in 2024, the majority of surveyed technology executives, investors, and executives (72%) indicated that error-free quantum computers — those ready for practical use — will not see the light of day until after 2035.