Amazon Introduces Ocelot Quantum Chip, Reducing Costs Significantly

On Thursday, Amazon.Com Inc AMZN revealed its new quantum computing chip, Ocelot. This innovation promises to cut the costs of implementing quantum error correction by up to 90%. The AWS Center for Quantum Computing team at the California Institute of Technology developed this advanced technology.

The Ocelot chip utilizes a combination of cat qubit technology and additional quantum error correction components. Notably, it can be manufactured in a scalable way by applying techniques from the microelectronics industry. This new approach marks a significant step forward in the realm of quantum computing.

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Currently, Ocelot is a prototype, and AWS is dedicated to further investment in quantum research. This commitment mirrors the approach taken when developing x86 systems, as AWS aims to establish Graviton as a leading chip in the cloud landscape.

Recent Developments in Quantum Computing

In a notable development last week, Microsoft Corp MSFT launched the Majorana 1 quantum chip, which aims to scale to 1 million qubits for industrial applications. This breakthrough in quantum computing has earned support from the Defense Advanced Research Projects Agency (DARPA), enhancing efforts in AI and high-performance computing.

Meanwhile, Alphabet Inc’s GOOG GOOGL Google announced its own quantum chip, Willow, last December. This chip promises to significantly decrease error rates as it scales by utilizing more qubits.

Furthermore, Nvidia Corp NVDA has partnered with Quantum AI to advance the development of quantum computing devices. Google aims to introduce commercial applications for quantum computing within the next five years.

Market Outlook

A report from BCG released in July 2024 reaffirmed the expected economic potential of quantum computing. The technology could generate between $450 billion to $850 billion in global economic value, supporting a market for related hardware and software between $90 billion and $170 billion by 2040.

Price Action: AMZN Stock is reported at $213.43, down 0.42% as of the latest update on Thursday.

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