Discussions around quantum computing have surged since $Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$ subsidiary Google teased its next-generation chip, "Willow," sparking interest in equities tied to the technology.
What happened: Shares of $Quantum Computing (QUBT.US)$ , a company specializing in quantum machine offerings, have soared 157% since the unveil, reaching levels not seen since Jun. 2010. The stock closed at a multi-year high of $25.68 on Dec. 2018.
In doing so, QUBT outperformed the influential "Magnificent 7" cohort and even the red-hot, MicroStrategy Inc.
Why It Matters: Google's quantum chip, Willow, can perform a standard benchmark computation in less than five minutes, a task that could take the world's fastest supercomputers forever.
The unprecedented speed represented a significant breakthrough in quantum computing, paving the way for practical applications in sectors like drug discovery and energy systems.
Apart from the Willow-induced hype, QUBT stock soared after the company secured a major contract with NASA for image and data processing support.
Interestingly, while Willow's capabilities signaled a bright prospect for quantum computing and associated investments, concerns about it breaking the cryptographic algorithms had the opposite effect on $Bitcoin (BTC.CC)$ , the world's largest cryptocurrency.
Bitcoin has dropped 3.6% since the chip unveil, reflecting a divergent trajectory.
While experts have debated whether the threat is immediate, a study estimated that the network would require over 300 days of downtime to protect against risks from quantum computing.
Price Action: Shares of Quantum Computing rallied 12.6% to close at $19.14 during Thursday's regular session, according to data from Benzinga Pro.
At the time of writing, Bitcoin was exchanging hands at $96,313.62, down 1.75% in the last 24 hours.
