US-based semiconductor chipmaking giant, Advanced Micro Devices, also popularly known as AMD, shares jumped more than 7% on Wall Street after IBM announced it uses the company’s chips to run a key quantum computing error correction algorithm.

According to a Reuters report, IBM on Friday said that the tech giant has been able to run a key quantum computing error correction algorithm on the chips made by AMD as it steps towards commercialising super-powerful computers.

IBM is reportedly racing against rivals like Microsoft and Alphabet-owned Google to develop quantum computing. Quantum computers (qubits) are used to tackle problems which would usually take normal computers thousands of years to decode.

According to the agency report, the qubits are likely to report frequent errors, which can overwhelm the useful computing work of a quantum chip.

Jay Gambetta, director of IBM Research, said that the tech giant’s algorithm not only works in the real world, but can operate on a readily available AMD chip that is not “ridiculously expensive.”

“Implementing it, and showing that the implementation is actually 10 times faster than what is needed, is a big deal,” said Gambetta, cited in the agency report.

AMD share price trend

Advanced Micro Devices, or AMD, shares jumped 7.6% to hit the intraday high of $253.08 during Friday’s Wall Street session, compared to $234.99 at the previous market close. The company shares jumped soon after the markets opened for the investors on 24 October 2025.

Shares of the California-based chipmaking giant have given US stock market investors more than 206% returns on their investment in the last five years and more than 63% returns in the last one-year period.

On a year-to-date (YTD) basis, the company’s shares have risen 108% in 2025 and have gained 56.19% in the last one-month period. AMD stock is trading 6.35% higher in the last five market sessions on Wall Street.

AMD shares hit their 52-week high level at $253.08 on Friday, 24 October 2025, while the 52-week low level $76.48, according to the data collected from Marketwatch. The company’s market capitalisation (M-Cap) stood at $381.35 billion as of the stock market session on Friday.

Read all stories by Anubhav Mukherjee

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