Quantum computing stocks advanced on Thursday after Microsoft launched a new chip that indicated the technology is not "decades away" as stated by the top boss of AI chip bellwether Nvidia.

The tech giant joins Google and IBM in predicting that a fundamental change in computing technology is much closer than recently believed. Microsoft on Wednesday unveiled a new chip that it said showed quantum computing is “years,

Its Majorana 1 chip, made of a new material, can perform high-level computing tasks with greater speed and accuracy, Microsoft says.