Shares of Rigetti Computing, Inc. ( RGTI ) , Quantum Computing, Inc. ( QUBT ) and D-Wave Quantum Inc. ( QBTS ) are moving higher on Thursday. Here’s what you need to know.

What To Know: Quantum computing-related stocks are rising following a report from Wednesday that suggested Microsoft will unveil its Majorana 1 chip. According to The Verge, the chip, after 17 years in the making, has the potential to solve large-scale problems.

The technology giant claims its chip, similar in size to a desktop PC CPU, can hold a million qubits. Technology companies have long struggled to develop such chips, as qubits are highly sensitive and prone to errors or data loss.

Microsoft said it handled the sensitivity problem by utilizing the Majorana particle instead of electrons and creating what the company called the “world’s first topoconductor.” The topoconductor can track and control Majorana particles, aiming to produce more stable qubits.

"Our leadership has been working on this program for the last 17 years. It's the longest-running research program in the company," said Zulfi Alam, corporate vice president of quantum at Microsoft. "After 17 years, we are showcasing results that are not just incredible, they're real. They will fundamentally redefine how the next stage of the quantum journey takes place."

Microsoft was one of two companies chosen by the Defense Advanced Research Projects Agency to move on to the final stage of its Underexplored Systems for Utility-Scale Quantum Computing program and create a prototype.

Quantum shares could be climbing following Microsoft's announcement, which signals progress toward scalable, stable quantum computers and their commercialization.

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Price Action: At the time of publication, Rigetti shares are trading 3.14% higher at $11.41, Quantum stock is trading 2.69% higher at $8.13 and D-Wave shares are trading 7.57% higher at $7.03, per data from Benzinga Pro.

Image: Courtesy of IonQ