MicroAlgo Inc. ( VENAF ) shares are trading higher Thursday after the company announced the development of a hybrid classical-quantum algorithm.

What To Know: The algorithm addresses Multi-Query Optimization (MQO) problems, which are classified as NP-hard and have applications in fields like database query optimization, machine learning and network routing. The innovation combines the stability of classical computing with the efficiency of quantum computing.

Key aspects of the algorithm include efficient qubit utilization with a reported 99% efficiency, the integration of classical error correction mechanisms to reduce computational error rates, scalability to handle problems of different sizes and compatibility with existing gate-based quantum computers.

MicroAlgo ( VENAF ) claims its algorithm can effectively handle smaller-scale MQO problems while improving qubit utilization and reducing computational error rates. Experimental evaluations reportedly confirm its performance under current quantum computing limitations.

MLGO Price Action: MicroAlgo ( VENAF ) shares were up 7.7% at $4.05 at the time of writing, according to Benzinga pro.

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