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Investing.com -- International Business Machines (NYSE:IBM) announced on Tuesday its plan to create a practical quantum computer by 2029. The company has outlined the specific steps it intends to take to achieve this goal.
Quantum computers utilize quantum mechanics to tackle problems that would take classical computers thousands of years or more to solve. However, current quantum computers spend a significant portion of their computing power on error correction, which negates their speed advantage over classical computers.
IBM also revealed its ambition to develop a much larger system by 2033. The company intends to construct the "Starling" quantum computer at a data center currently being built in Poughkeepsie, New York. IBM stated that the Starling will have about 200 logical qubits.
Qubits, or quantum bits, are the basic unit of quantum computing. A system with 200 qubits could begin to demonstrate advantages over classical computers.
IBM is not alone in its pursuit of quantum computing. Other tech giants, including Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL)’s Google, and Amazon.com (NASDAQ:AMZN), are also investing in this technology. Additionally, numerous startups have raised hundreds of millions of dollars in capital to explore quantum computing.
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