10 Best Quantum Computing Stocks To Buy According to Hedge Funds

4. Alphabet Inc. (NASDAQ:GOOG)

Number of Hedge Fund Holders: 160

Alphabet Inc. (NASDAQ:GOOG) is a California-based technology company that owns and runs the internet search engine Google. The firm is involved in the quantum universe through the Google Quantum AI Lab. This lab focuses on quantum computing applications that help with machine learning and solving difficult computer science problems. In 2019, the lab jumped into the spotlight after Google announced in a paper that it had achieved quantum supremacy. Per the tech giant, the Google quantum chip had solved a problem that would take a classical computer 10,000 years to solve. This claim was later disputed by infotech firm IBM.

Google Quantum AI Lab is once again in the news as the firm recently announced that it had taken the IBM reservations regarding the 2019 announcement into account to develop a new quantum chip that had solved a computing problem in five minutes that would take a classical computer more time than the history of the universe. The new chip, named Willow, has 105 qubits, the building blocks of quantum computers. These blocks are important as they are fast but error-prone. Traditionally, adding qubits to the chip would increase the chances of errors, but Google has said it has found a way to string together the qubits so that error rates go down as the number of qubits goes up.

The latest development is one of the reasons why the firm is among the best quantum computing stocks to buy according to hedge funds. Anthony Megrant, the chief architect for Google Quantum AI, put the Google quantum breakthrough into perspective during a recent interview, saying that some of Google’s rivals were producing chips with a larger number of qubits than Google, but Google was focused on making the most reliable qubits it could. He also revealed that the firm built its own dedicated fabrication facility to produce its Willow chips.