Shares of Quantinuum rose after The Wall Street Journal reported the company hit a technical milestone, putting it on a path to achieve fully accurate and reliable quantum computers by 2029.
The stock climbed 3.8% to $37.93 in premarket trading Monday. Shares had their public debut in June, when the company sold 28 million shares for $60 each.
The quantum-computing company said it achieved a record-setting result on a problem that has bedeviled the industry for years: The tendency for the "qubits" at the center of a quantum computer to produce errors based on tiny disturbances in their environments.
Quantinuum said it developed an approach to detect and correct these errors, resulting in just five failures in one million operations, equivalent to 99.9995% fidelity. The company believes its result leads the industry.
"We have the world's lowest error rate and the most efficient way to do it," Chief Executive Rajeeb Hazra told the Journal.
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