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Rani Molla

Amazon joins Alphabet and Microsoft in the quantum chip club

The first rule of Quantum Chip Club is you make a big announcement about being part of Quantum Chip Club.

Today, Amazon Web Services unveiled its first quantum chip, Ocelot, which “represents a breakthrough in the pursuit to build fault-tolerant quantum computers capable of solving problems of commercial and scientific importance that are beyond the reach of today’s conventional computers.”

It said scaling the chip to a “fully-fledged quantum computer capable of transformative societal impact would require as little as one-tenth of the resources associated with standard quantum error correcting approaches.”

Welcome to the club.

If you haven’t heard about the latest trend among the Silicon Valley tech giants, quantum chips are super powerful and can do in a few minutes what today’s supercomputers would take septillions — yes, septillions — of years to do.

Earlier this month, Microsoft released its first quantum chip, Majorana 1, which it billed similarly as “breakthrough” and a “transformative leap toward practical quantum computing.”

Late last year, Alphabet announced its latest and greatest quantum chip, Willow, which it lauded for its “breakthrough achievements,” including performing a benchmark computation that would take today’s fastest supercomputers 10 septillion years — “a number that vastly exceeds the age of the Universe” — in less than five minutes.

Amazon, which also launched an upgraded AI assistant Alexa+ yesterday, is up more than 1% premarket.

It said scaling the chip to a “fully-fledged quantum computer capable of transformative societal impact would require as little as one-tenth of the resources associated with standard quantum error correcting approaches.”

Welcome to the club.

If you haven’t heard about the latest trend among the Silicon Valley tech giants, quantum chips are super powerful and can do in a few minutes what today’s supercomputers would take septillions — yes, septillions — of years to do.

Earlier this month, Microsoft released its first quantum chip, Majorana 1, which it billed similarly as “breakthrough” and a “transformative leap toward practical quantum computing.”

Late last year, Alphabet announced its latest and greatest quantum chip, Willow, which it lauded for its “breakthrough achievements,” including performing a benchmark computation that would take today’s fastest supercomputers 10 septillion years — “a number that vastly exceeds the age of the Universe” — in less than five minutes.

Amazon, which also launched an upgraded AI assistant Alexa+ yesterday, is up more than 1% premarket.

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$75B

SpaceX, which could file confidential paperwork for its IPO as soon as this week, is now aiming to raise an astounding $75 billion through its public listing, The Information reports. That’s 50% higher than previous reports.

For comparison’s sake, the current record holder for money raised in an IPO is Saudi Aramco, which raised $29.4 billion. Or, as The Information noted, SpaceX’s IPO would “surpass all money raised by US IPOs last year.”

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Meta execs could make hundreds of millions of dollars — if the company reaches a $9 trillion valuation

Meta, which currently has a market cap of $1.5 trillion, has structured a new executive compensation program that implies a valuation up to 6x higher, according to Securities and Exchange Commission filings reported by The Wall Street Journal.

That means some top executives, like CTO Andrew Bosworth and CFO Susan Li, could gain hundreds of millions of dollars if the shares reach those levels, pointing to a roughly $9 trillion valuation by 2031. CEO Mark Zuckerberg is not part of the program, the company confirmed.

The company’s expenses grew 40% in the fourth quarter from a year earlier, largely driven by employee compensation after shelling out heavily to recruit AI talent. The latest plan suggests those costs could climb even further.

That means some top executives, like CTO Andrew Bosworth and CFO Susan Li, could gain hundreds of millions of dollars if the shares reach those levels, pointing to a roughly $9 trillion valuation by 2031. CEO Mark Zuckerberg is not part of the program, the company confirmed.

The company’s expenses grew 40% in the fourth quarter from a year earlier, largely driven by employee compensation after shelling out heavily to recruit AI talent. The latest plan suggests those costs could climb even further.

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