Microsoft and Google have made breakthroughs in quantum computing, a technology that could revolutionize drug discovery and other fields.

Microsoft said it had reached a milestone in its quantum- computing journey, delivering a boost to shares of quantum pure plays such as D-Wave Quantum and Rigetti Computing on Thursday. The tech behemoth unveiled its Majorana 1 chip on Wednesday afternoon,

Microsoft’s new chip, Majorana 1, promises to shrink timelines for development of quantum computers. These computers will tackle some of the world’s most daunting problems that are beyond the capability of present day computers,