If computers are to think for themselves someday, they’ll need more than binary operations — the 1s and 0s that define today’s machines. Quantum computers, a special computer capable of handling a wider range of values, promise to surpass traditional computers by solving problems that would take today’s systems trillions of years. But there’s a catch: researchers need to make them work reliably first.

Today’s quantum machines are prone to errors, and they’re not exactly practical either. However, one tech giant says it has made a major breakthrough toward solving these challenges, unveiling a chip it says could revolutionize the field.

Quantum leap: In 2019, GoogleGOOGL

roused controversy across the tech world with its claim of achieving “quantum supremacy,” a milestone for quantum computing. Although widely disputed at the time, Google’s latest effort is harder to ignore. On Tuesday, it showed off Willow, a quantum chip capable of performing calculations that would take the “fastest supercomputers 10 septillion years” — in under five minutes. Even more stunningly, Google says it has addressed one of the technology’s pressing problems — errors.

• As quantum computers add more qubits — the broader range of values they use for computations — they tend to become less reliable and more prone to mistakes.
• Google asserts Willow is different — reducing errors “exponentially” as it scales up qubits — if true, this breakthrough could resolve a generational problem with the technology and bring quantum systems technology closer to practical use.

Extra-Dimensional Gains

While some media outlets focused on Google’s bold claim that its research could prove the existence of parallel universes, cryptography experts raised alarms about its potential impact on security — and naturally, Wall Street saw dollar signs.GOOGL

has risen 10% since the start of the week, and it wasn’t alone.

• Companies with extensive quantum computing patents, like D-wave QuantumQBTS
  and Rigetti ComputingRGTI
  , rose 36% and 139%, respectively, over the last five days.
• Other intellectual property-rich firms haven’t seen the bump, but some analysts expect a quantum-flavored rally could find its way to IBMIBM
  , MicrosoftMSFT
  , Northrop GrummanNOC
  , and others.

Rich pickings: While it’s tempting to get starry-eyed about transformative technology, quantum computing remains more of an IP race than a practical one for now. As a result, it has the gleam of a Dot-com era momentum play but without a clear destination. Today’s quantum machines are still too rigid and unready for real-world applications. Furthermore, Google has been unafraid to boast its quantum leaps in the past, only to be beaten by conventional computers. While this could change quickly, speculative investors risk losses if they don’t know when to sell — maybe they’d be better off sticking to AI instead.