IBM Quantum Breakthroughs as Markets React to Treasury's Bond Buyback Plan

IBM has made significant progress in its pursuit of creating a fault-tolerant quantum computer. The company announced that it has successfully connected and cooled down two cryogenic modules into a single environment, marking an important milestone on its roadmap to developing the world's first fault-tolerant quantum computer.

The modules, which are over 8 feet tall and wide, can be cooled down to 4 Kelvin in less than five days before reaching a final temperature of below 15 millikelvin. This achievement is expected to accelerate IBM's progress in quantum computing, according to Jay Gambetta, director of IBM Research.

In other news, Target outperformed expectations in Q2, delivering broad-based sales growth and improved profitability despite the impact of price cuts on more than 10,000 frequently purchased items. The company's EPS was boosted by tariff refunds, but even excluding that, EPS of $4.11 and sales growth of 5.3% still topped estimates.