Developed by the AWS Center for Quantum Computing at the California Institute of Technology, the new chip can reduce the costs of implementing quantum error correction by up to 90 percent, according to the company.

Unlike conventional computers, which use bits representing values of either 1 or 0, quantum computers utilize quantum bits, or "qubits," that can exist in multiple states simultaneously, potentially solving complex problems exponentially faster than conventional computers.

Quantum research is seen as a critical emerging field, and both the United States and China have been investing heavily in the area, with Washington also placing restrictions on exports of the sensitive technology.

Microsoft last week unveiled its own quantum chip that it said could transform everything from fighting pollution to developing new medicines, arguing that the promise of quantum computing is closer to reality.

And in December, Google unveiled its Willow quantum chip, which it claimed had dramatically reduced computing errors and performed a complex calculation in minutes that would have taken a traditional supercomputer millions of years.

"We believe that if we're going to make practical quantum computers, quantum error correction needs to come first. That's what we've done with Ocelot," said Oskar Painter, AWS head of quantum hardware.

One of the greatest challenges in quantum computing is the sensitivity of qubits to environmental disturbances, such as vibrations, heat, and electromagnetic interference, all of which can cause computation errors.

The Ocelot chip addresses this through its innovative design, which AWS claims could reduce the resources required for quantum error correction by five to 10 times compared to conventional approaches.

Scientists at AWS have published their findings in the journal Nature.

"We're sort of in the vacuum tube days right now with quantum computing -- making these massive machines and trying to figure out how to get better, smaller, more resource-efficient components to scale them more effectively," Painter explained.

While still a laboratory prototype, AWS believes Ocelot represents an important step toward quantum computers capable of solving problems beyond the reach of any typical computer.

The company says it will continue refining its approach through ongoing research and development.