MicroAlgo Shares Rise After Launch of Quantum Computing Technology

Dow Jones2024-12-31

By Sabela Ojea

U.S.-listed shares of China's MicroAlgo surged after the company said it developed a new quantum algorithm technology.

The stock was up 36% to $5.55 in early trading Tuesday. Shares remain down about 97% from the start of the year.

The Shenzhen-based developer of bespoke central processing algorithms said the new technology enhances the efficiency and accuracy of quantum computers when performing difficult computational tasks.

It also opens new pathways for the design and implementation of quantum gate computers, the company added.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

December 31, 2024 10:29 ET (15:29 GMT)

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