Alphabet stock climbs over 4% after Google's quantum chip ...

Google parent Alphabet (GOOGL+5.38%) saw its shares jump by almost 5% during Tuesday morning trading after the tech giant unveiled its latest quantum chip.

Alphabet stock was up by over 5% in early trading and around 4.7% an hour after the market opened. The company’s shares are up by almost 33% so far this year.

Google Quantum AI announced Monday that its new, state-of-the-art quantum chip, Willow, demonstrated “two major achievements” in quantum computing, including “exponentially” reducing the rate of errors when adding more qubits — a challenge that has existed for almost 30 years, Hartmut Neven, founder and lead of Google Quantum AI, said in a statement.

“Errors are one of the greatest challenges in quantum computing,” Neven said, because they “have a tendency to rapidly exchange information with their environment, making it difficult to protect the information needed to complete a computation.”

Qubits are the units of computation in quantum computers, and are typically electrons, photons, or another subatomic particle. According to results published in Nature on Monday, Google Quantum AI found that the more qubits it used in Willow, the more it reduced errors. The team also found that Willow was able to perform a computation in under five minutes that would take Frontier, currently considered the world’s fastest supercomputer, 10 septillion years to solve. The assessment of Willow’s performance compared to Frontier “was based on conservative assumptions,” Neven said.

Additionally, Google announced a strategic partnership Tuesday with Intersect Power and TPG Rise Climate to design and build energy parks that can generate renewable energy and supply gigawatts to its data centers. The first phase of the project is expected to be operational by 2026, Google said, while completion is expected in 2027. Google and TPG Rise Climate are also joining others in investing in Intersect Power.