International Business Machines Corporation (NYSE:IBM) shares are trading marginally higher on Thursday.

According to Benzinga Pro, IBM stock has gained over 55% in the past year. Investors can gain exposure to the stock via First Trust NASDAQ Technology Dividend Index Fund (NASDAQ:TDIV) and FT Vest DJIA Dogs 10 Target Income ETF (BATS:DOGG).

Today, the company announced the completion of its latest expansion at the IBM Quantum Data Center in Poughkeepsie, New York.

The latest IBM Quantum system achieves reduced error rates at 16 times better performance and a 25-fold increase in speed over 2022 IBM Quantum systems.

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“Since IBM made the first quantum computer available on the cloud in 2016, we have broken barriers across quantum hardware and software to build our largest and highest-performing fleet of globally accessible quantum systems,” said Jay Gambetta, Vice President at IBM Quantum.

This facility now houses the largest number of utility-scale quantum computers in a single location globally, with these systems available to clients through the IBM cloud.

Gambetta emphasized that the quantum data center in Poughkeepsie serves as a central hub for organizations worldwide to tackle industry-related challenges using real quantum hardware.

He noted that as they expand their quantum computing capabilities both in Poughkeepsie and globally, they will collaborate with over 250 organizations to accelerate advancements in the field.

Earlier this month, the company unveiled a new AI foundation model designed for various weather and climate applications, created in collaboration with NASA and Oak Ridge National Laboratory.

This open-source model is accessible to the scientific, developer, and business communities, providing a flexible and scalable solution to tackle challenges associated with both short-term weather forecasting and long-term climate projections.

Price Action: IBM shares are trading higher by 0.55% to $222.45 at last check Thursday.

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This article IBM's Latest Quantum System Delivers 16x Lower Error Rates And 25x Speed Increase: Details originally appeared on Benzinga.com

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