IBM unveils loon chip, moves closer to quantum computers by 2029

IBM has announced its experimental quantum chip, Loon, marking a key milestone toward practical quantum computing by the end of the decade. Following the announcement, IBM shares rose nearly 2%, reflecting investor excitement about the future of quantum technology.

The Loon chip incorporates elements of error-resilient quantum architecture, a critical step toward usable quantum computers. Unlike classical computers, quantum systems use qubits, which can exist in superposition and become entangled, allowing them to solve problems that would take classical computers thousands of years. The main challenge remains correcting errors caused by noise and instability in qubits.

IBM also unveiled the Nighthawk chip, set to be available by the end of the year, which could outperform classical computers on certain tasks. The company plans to collaborate with startups and researchers, sharing code to validate the capabilities of its quantum systems.

The market reacted positively to the announcement, with IBM shares rising approximately 1.9% in premarket trading. Analysts note that while quantum computing is not yet a major revenue driver, it shapes in