Governments and technology companies are fueling an urgent, high-stakes race to develop quantum power, which promises to revolutionize— and potentially compromise — global security.

IBM said on Friday it is able to run a key quantum computing algorithm on commonly available chips from Advanced Micro Devices, in a step toward commercializing super-powerful computers. The U.S. stalwart is racing to develop quantum computing against Microsoft and Alphabet's Google,

Quantum-computing stocks surged after The Wall Street Journal reported that several companies are in talks to give the Commerce Department equity stakes in exchange for federal funding. Shares in Rigetti Computing (RGTI),

Shares in quantum computing firms are getting a lift Thursday on reports that the Trump administration is in discussions to take equity stakes in them in exchange for federal funding. IonQ, Rigetti, D-Wave Quantum, and Quantum Computing are among the companies said to be involved in the talks.

Shares of U.S. quantum computing companies jumped on Thursday after the Wall Street Journal reported that President Donald Trump's administration is in discussions to acquire equity stakes in exchange for federal funding.

The discussions signal Washington’s wider involvement in critical parts of the economy.

The new quantum computing algorithm, called "Quantum Echoes," is the first that can be independently verified by running it on another quantum computer.

Designed to accelerate advances in medicine and other fields, the tech giant’s quantum algorithm runs 13,000 times as fast as software written for a traditional supercomputer.

The Wall Street Journal reported that the Trump administration is in talks about taking equity stakes in quantum computing firms in exchange for federal funding. The move comes after Washington took stakes in firms within the rare earths and semiconductor industries,