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International Business Machines Corporation (NYSE:IBM) shares are trading lower on Thursday.
The tech behemoth is making significant strides in the quantum computing field with plans to install Europe’s first IBM Quantum System Two at the IBM-Euskadi Quantum Computational Center in San Sebastian, Spain.
This quantum system, powered by the utility-scale 156-qubit IBM Quantum Heron processor, will be operational by the end of 2025.
According to Benzinga Pro, IBM stock has gained over 23% in the past year. Investors can gain exposure to the stock via First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) and iShares Trust iShares Blockchain and Tech ETF (NYSE:IBLC).
Initially announced in 2023, the project has now been updated to include IBM’s most advanced modular quantum computer, Quantum System Two, instead of the previously planned IBM Quantum System One.
This new installation is set to drive advancements in physics, information science, and materials science, supporting researchers, developers, and industries across Europe.
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IBM Quantum System Two, powered by the IBM Quantum Heron processor, is designed to expand to multiple processors in the future.
It will enable the execution of utility-scale algorithms, surpassing classical simulation methods. This system has an ability to run up to 5,000 two-qubit gate operations.
The Basque Country government views the installation as a critical infrastructure investment for the region’s digital transformation, aiming to foster economic growth and innovation.
With this deployment, the region is set to become a global hub for quantum computing research and education, supporting the government’s IKUR 2030 vision to enhance sustainability and technology integration, according to a press release.
Price Action: IBM shares are trading lower by 2.59% to $243.16 at last check Thursday.
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