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IBM soared in pre-market trading after announcing a non-chip computing breakthrough.

Investing.com -- International Business Machines (NYSE:IBM) shares jumped about 5% in premarket trading Thursday after the company's announcement of a sub-1 nanometer chip technology breakthrough.

IBM on Thursday unveiled what it said was the world's first technology capable of producing chips smaller than ‌one nanometer, as tech companies race to build semiconductors that can handle increasingly ‌demanding AI workloads. The new chip technology, which bolsters IBM's ‌position to compete with contract ⁠chipmakers TSMC and Intel, has a transistor architecture of 0.7 nanometers, or 7 angstroms. Last week, Intel said the new generation of its 18A manufacturing ⁠process, which makes 1.8 nanometer chips, moved into risk production, the testing phase before commercial manufacturing.

Investing.com -- Microsoft Corp announced Tuesday a new quantum computing chip developed with artificial intelligence assistance and set a 2029 target for commercially viable quantum machines.

Investing.com -- IBM shares climbed about 9% on Monday after Barclays initiated coverage of the technology company with an Overweight rating, citing the company's evolution into a software-focused business with steady growth prospects and expanding margins.