Instead, the focus should probably be on how Willow could become an indirect reason to buy Alphabet, namely, its ability to reinvent itself. Indeed, it is possible that ChatGPT could make Google Search obsolete, and its release of Google Gemini may only do so much to help.

Shares of Google parent Alphabet surged to their highest level since July on Tuesday after the company unveiled a chip it said can complete computations in minutes that would take some of today's fastest supercomputers 10 septillion years.

Alphabet shares rose Tuesday after the company's unveiling of "Willow," its latest quantum computing chip. When quantum computing matures, it is expected to be useful for large-scale simulations and code breaking,