Alphabet stock adds $136 billion in market value after it unveils quantum computing breakthrough [Business Insider]
Piper Sandler Companies (PIPR)
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Source: Business Insider
Also on Tuesday, Piper Sandler said AI tools like Gemini boost its confidence in Alphabet's growth. Alphabet stock surged on Tuesday, a day after the tech giant revealed a breakthrough in quantum computing. The Google parent company unveiled its new Willow chip on Monday, which it said can perform a benchmark computation test in under five minutes, compared to the 10 septillion years—longer than the universe's known existence—that it would take for the current fastest supercomputers to complete. Alphabet stock jumped as much as 6%, adding about $136 billion to its market valuation and representing its best intra-day gain since April 26. The stock had pared its gain to about 5% by 1:00 p.m. ET. Even Tesla CEO and SpaceX co-founder Elon Musk was excited by the news. In a series of posts on X, Musk responded to Alphabet CEO Sundar Pichai regarding the news and talked about launching a "quantum cluster" in space via SpaceX's Starship. Wow — Elon Musk (@elonmusk) December 9, 2
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