Quantum computing remains industry of high potential and rapid evolution, igniting investor interest with its promise to revolutionize computational speed. The quantum race is heating up after Microsoft (MSFT) introduced its Majorana 1 chip,

Microsoft says it has developed a breakthrough quantum processor based on a new state of matter, giving it a clear path to achieve quantum computing’s long-term promise of solving some of the world’s most difficult problems.

Microsoft on Wednesday unveiled a new chip that it said showed quantum computing is "years, not decades" away, joining Google and IBM in predicting that a fundamental change in computing technology is much closer than recently believed.

The processor uses qubits that can be measured without error and are resistant to outside interference, which the company says marks a “transformative leap toward practical quantum computing.”

The tech giant’s researchers say the advance could lead to vastly more powerful computers.

Innovation is pouring out of the big technology companies. From hand-controlled augmented reality glasses at Meta Platforms, self-driving car commercialization at Alphabet, and robot-controlled warehouses at Amazon,

Google's parent company, announced its new quantum computing chip. This started a frenzy of trading in pure-play quantum computing stocks like Rigetti Computing (NASDAQ: RGTI) and D-Wave (NYSE: QBTS).