University of Kwazulu-Natal

Nvidia Ceo S Predictions Rain On Quantum Stock Parade

Bonisiwe Shabane
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nvidia ceo s predictions rain on quantum stock parade

The quantum computing sector experienced a significant setback on Wednesday as Nvidia (NVDA) CEO Jensen Huang‘s remarks cast a long shadow over the timeline for the practical application of quantum computers. Huang’s cautious outlook during Nvidia’s analyst day, where he suggested that “very useful” quantum computers might be 15 to 30 years away from realization, led to a sharp decline in stock prices for leading... Quantum Computing Inc. (QUBT), IonQ Inc. (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) saw their shares plummet in premarket trading, with drops exceeding 24% for Quantum Computing, D-Wave, and Rigetti, and a 16% decrease for IonQ. This downturn was particularly stark given the recent surge in these stocks, fueled by optimism about quantum computing’s potential and amplified by Alphabet’s (GOOGL, GOOG) recent advancements in the field.

Over the past year, quantum computing stocks have seen dramatic gains, with Quantum Computing Inc. soaring by more than 1,940%, Rigetti climbing over 1,450%, D-Wave surging by more than 1,025%, and IonQ rising nearly 300%. Huang’s prediction not only affected U.S.-based companies but also had a ripple effect in Asia, notably impacting Chinese quantum computing firms like QuantumCTek Co. Ltd and Accelink Technologies Co. Ltd, whose shares also fell significantly. His statement provided a stark contrast to the bullish sentiment that had driven these stocks to new heights, suggesting that the technology’s journey to becoming a mainstream, practical tool might be much longer than...

This reaction in the stock market underscores the volatility and speculation inherent in investing in cutting-edge technologies like quantum computing. While the theoretical benefits of quantum computing, including solving complex problems in cryptography, drug discovery, and optimization, are well-documented, the practical implementation faces numerous challenges. These include not only the technical hurdles of maintaining quantum coherence and reducing error rates but also the significant investment in research and development required to make these systems viable for everyday use. Moreover, Huang’s comments reflect a broader industry acknowledgment that quantum computing, despite its promise, remains in the realm of advanced research rather than immediate commercial application. This perspective tempers expectations and might encourage a more realistic approach to investment and development in the sector, focusing on long-term growth and partnerships with classical computing technologies to bridge current gaps. Quantum stocks drop as NVIDIA's CEO Jensen Huang suggests "very useful" quantum computers are decades away.

🤷 However -- the statement doesn't seem to reflect a new stance from NVIDIA on #quantum and reflects the company's well-established quantum strategy of supporting a hybrid quantum-classical compute environment. ✅ In the following piece, we parse words, explore vague definitions and agonize over modifiers and intensifiers like "very" to tease apart this poor CEO's three-sentence, off-hand quote. https://lnkd.in/eStvXcbR On a postitive note, he did mention the usecase for QRNGs and PQC <shrug> You can't be disruptive if everyone thinks quantum computing is easy. Three observations: * Nvidia is late to quantum computing * They're only working with part of the industry * Jensen is paid to sell GPUs

Much needed cold water on a raging hype fire, in my humble opinion. Even if we are still 10-15 years out from practical quantum computing, that's still incredible. Jensen Huang, has re-opened the buy door to 3 of our stocks, IONQ, QBTS, RGTI after we skimmed a lot of cream off the top over the past month. Back in after the 50% sell off! Thanks Jenson! After Nvidia NVDA CEO Jensen Huang said that "very useful" quantum computers are probably 15 to 30 years away, quantum computing stocks slumped drastically Wednesday.

Arqit Quantum ARQQ and D-Wave Quantum QBTS dropped about 30% each; Rigetti Computing RGTI shares fell 35%. IonQ (IONQ) fell 28%; Quantum Computing QUBT, which said on Tuesday a $100 million stock offering, fell 32%. Commenting at a question-and-answer session at Nvidia's Consumer Electronics Show Financial Analyst event, Huang cited that for very practical quantum computers, a 15-year target would probably be seen as ambitious, he said. While a 20-year schedule would undoubtedly have general acceptance, a 30-year projection would most certainly be considered as too late. With Quantum Computing QUBT roaring 1,880%, Rigetti soaring 1,500%, and D-Wave Quantum up 985%, the losses follow significant increases in quantum computing companies over the past year. As of January 7, IonQ scored 290% and Arqit Quantum climbed 230%.

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The Quantum Computing Sector Experienced A Significant Setback On Wednesday

The quantum computing sector experienced a significant setback on Wednesday as Nvidia (NVDA) CEO Jensen Huang‘s remarks cast a long shadow over the timeline for the practical application of quantum computers. Huang’s cautious outlook during Nvidia’s analyst day, where he suggested that “very useful” quantum computers might be 15 to 30 years away from realization, led to a sharp decline in stock pr...

Over The Past Year, Quantum Computing Stocks Have Seen Dramatic

Over the past year, quantum computing stocks have seen dramatic gains, with Quantum Computing Inc. soaring by more than 1,940%, Rigetti climbing over 1,450%, D-Wave surging by more than 1,025%, and IonQ rising nearly 300%. Huang’s prediction not only affected U.S.-based companies but also had a ripple effect in Asia, notably impacting Chinese quantum computing firms like QuantumCTek Co. Ltd and Ac...

This Reaction In The Stock Market Underscores The Volatility And

This reaction in the stock market underscores the volatility and speculation inherent in investing in cutting-edge technologies like quantum computing. While the theoretical benefits of quantum computing, including solving complex problems in cryptography, drug discovery, and optimization, are well-documented, the practical implementation faces numerous challenges. These include not only the techn...

🤷 However -- The Statement Doesn't Seem To Reflect A

🤷 However -- the statement doesn't seem to reflect a new stance from NVIDIA on #quantum and reflects the company's well-established quantum strategy of supporting a hybrid quantum-classical compute environment. ✅ In the following piece, we parse words, explore vague definitions and agonize over modifiers and intensifiers like "very" to tease apart this poor CEO's three-sentence, off-hand quote. h...

Much Needed Cold Water On A Raging Hype Fire, In

Much needed cold water on a raging hype fire, in my humble opinion. Even if we are still 10-15 years out from practical quantum computing, that's still incredible. Jensen Huang, has re-opened the buy door to 3 of our stocks, IONQ, QBTS, RGTI after we skimmed a lot of cream off the top over the past month. Back in after the 50% sell off! Thanks Jenson! After Nvidia NVDA CEO Jensen Huang said that "...