Shares related to quantum computing are strong following news that Google has developed a new high-performance quantum chip.
According to the Korea Exchange on the 11th, as of 9:30 a.m., the price of Xgate has risen 1,640 won (29.93%) from the previous trading day, trading at 7,120 won and hitting the upper price limit.
At the same time, KCS is also trading at 9,330 won, up 2,150 won (29.94%) from the previous trading day. Shares of iWinPlus, Dream Security, Wooree, and ICTK are also rising.
This rise is attributed to the expectations following Google’s announcement of its newly developed quantum chip, ‘Willow.’ On the 10th (local time), Google announced that it has developed a quantum computer that can solve a problem that would take the fastest supercomputer 10 septillion (10 to the 24th power) years, or about 100 million years, in less than 5 minutes. This quantum computer is equipped with the Willow quantum chip.
Quantum computing has faced criticism for the issue of increased errors as the fundamental unit of information, the qubit, increases. However, Google has stated that it has developed technology to connect qubits of the Willow chip to reduce errors and correct them in real-time. Google has published details about the performance and computation process of Willow on its website and in the international journal Nature.
Meanwhile, HDC Group affiliate HDC Labs has invested in Norma, a company specializing in Internet of Things (IoT) and quantum security solutions, through the private equity fund KL Norma. Norma had plans to go public this year but has postponed them to next year.