Microsoft and Google have made breakthroughs in quantum computing, a technology that could revolutionize drug discovery and other fields.

Microsoft said it created eight topological qubits and placed them on its new Majorana 1 processor, but there was a "clear path" to fitting each chip with a million qubits, the requisite "threshold for quantum computers to deliver transformative,

Quantum computing stocks rose in premarket trading 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.