In addition to launching Nighthawk, IBM also announced its Quantum Loon chip, an experimental processor that will not be made publicly available, but the company said it will be the driving force behind IBM's efforts to deliver the world’s first large-scale, fault-tolerant quantum computer by 2029.

IBM’s bold quantum roadmap puts it on track to lead the next wave of tech innovation and unlock massive long-term value.

"There are many pillars to bringing truly useful quantum computing to the world," said IBM Research director Jay Gambetta. "We believe that IBM is the only company that is positioned to rapidly invent and scale quantum software, hardware, fabrication, and error correction to unlock transformative applications."

IBM said its new processors and software breakthroughs will speed its path toward fault-tolerant quantum computing by 2029.

IBM Quantum Nighthawk: processor built for quantum advantage will deliver circuits with 30 percent more complexity Together with partners, IBM

The second product announced this morning is IBM Quantum Nighthawk, a processor that will enable the immediate continuation of operating powerful quantum systems. IBM’s current product is already the best in the industry. Nighthawk is 30 percent more efficient.