Alphabet's (GOOGL) release of the new Willow quantum computing chip has made quantum computing a hot topic in the investment market. Following the announcement, Alphabet's stock rose by 7%. However, the most significant stock movements occurred in smaller quantum computing companies: Quantum Computing (QUBT, Financial), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS), which saw an average stock increase of 159% collectively.
Despite the excitement, IBM (IBM) experienced a 4% decline in its stock price, as some analysts believe the market has overlooked its contributions to quantum computing. Experts highlight IBM's progress in scaling hardware and improving performance.
Quantum computing promises significant advancements, yet practical applications remain years away. Market research firm IDC predicts commercial quantum computing sales could reach $8.9 billion by 2028. However, experts caution that realizing its full potential will take decades, as significant technical challenges remain.
