AMD's stock pops 6% on report IBM can use its chips for quantum computing

Core Insights - Advanced Micro Devices Inc. (AMD) shares increased by over 6% following reports that IBM can utilize AMD's chips for quantum computing algorithms [1][2] - IBM's upcoming paper will demonstrate the capability of running a quantum error-correction algorithm on AMD's field-programmable gate array chips [2] - The collaboration between AMD and IBM aims to develop quantum computing technologies, with IBM planning to launch a quantum computer by 2029 [2] Company Developments - AMD's stock performance was positively impacted by the news of its chips being used in quantum computing [1] - IBM's stock also saw a gain of approximately 6% in response to the announcement regarding the use of AMD's technology [1] Industry Trends - The quantum computing sector is experiencing heightened interest, with major technology companies like Google, Microsoft, and Amazon actively developing their own quantum technologies [3] - Recent advancements in quantum computing, such as Microsoft's first quantum chip and Google's breakthrough Willow, indicate a competitive landscape [3] - Stocks of other quantum computing firms, including D-Wave Quantum, Rigetti Computing, and IonQ, also rose following the announcements in the industry [3]