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Quantum computing stocks advanced on Thursday after Microsoft launched a new chip that indicated the technology is not "decades away" as stated by the top boss of AI chip bellwether Nvidia. Microsoft unveiled its Majorana 1 chip on Wednesday and said it is less prone to errors than rivals, while providing evidence in a scientific paper set to be published in academic journal Nature. Quantum computing holds the promise of carrying out calculations that would take today's systems millions of years.

(Bloomberg) -- Michael Saylor’s Strategy raised $2 billion from an issue of convertible debt after the Bitcoin treasury firm sweetened the terms for investors. It plans to use the proceeds for purposes including acquiring more of the digital token.Most Read from BloombergTrump to Halt NY Congestion Pricing by Terminating ApprovalSorry, Kids: Disney’s New York Headquarters Is for Grown-UpsAirbnb Billionaire Offers Pre-Fab Homes for LA Fire VictimsChild Migrant Watchdog Gutted in DOGE CutsChicago

The number of Americans filing new applications for unemployment benefits increased moderately last week, suggesting that the labor market remained on solid ground in February. There were no signs yet in the report from the Labor Department on Thursday of the mass layoffs of federal government workers and deep spending cuts being pursued by Republican President Donald Trump's administration. Economists, who expect a spillover to the private sector, said it was too early for the negative effects to be felt in the broader economy.

The number of Americans filing for jobless benefits rose by 5,000 to 219,000 for the week ending Feb. 15, the Labor Department said Thursday. Weekly applications for jobless benefits are considered a proxy for layoffs. Earlier this month, the Labor Department reported that U.S. employers added 143,000 jobs in January, significantly fewer than December’s 256,000 job gains.

Travel technology company Sabre (NASDAQ:SABR) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 4% year on year to $714.7 million. Its non-GAAP loss of $0.08 per share was 22% above analysts’ consensus estimates.

Game engine maker Unity (NYSE:U) reported Q4 CY2024 results beating Wall Street’s revenue expectations, but sales fell by 25% year on year to $457.1 million. On the other hand, next quarter’s revenue guidance of $410 million was less impressive, coming in 5.6% below analysts’ estimates. Its GAAP loss of $0.30 per share was 18.6% above analysts’ consensus estimates.

The convertible note offering is expected to close tomorrow.