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.

Microsoft has developed the first ever quantum chip, shortening the timeframe for when quantum computers will break exiting encryption

Quantum computing stocks advanced on Thursday after Microsoft launched a new chip that indicated the technology is not "decades away" as stated by the top boss of AI chip bellwether Nvidia. Microsoft unveiled its Majorana 1 chip on Wednesday and said it is less prone to errors than rivals,