Microsoft says it has developed a breakthrough quantum processor based on a new state of matter, giving it a clear path to achieve quantum computing’s long-term promise of solving some of the world’s most difficult problems.

Quantum computing stocks advanced on Thursday after Microsoft launched a new chip that indicated the technology is not "decades away" as stated by the top boss of AI chip bellwether Nvidia.

Leading theoretical physicist, John Preskill, said Microsoft had yet to release any performance data to back up its claim.