Microsoft has developed the world’s first quantum computing chip called Majorana 1. The company says quantum computers are now just years away, not decades.

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

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. Microsoft unveiled its Majorana 1 chip on Wednesday and said it is less prone to errors than rivals,