University of Kwazulu-Natal

Quantum Computing Stocks Slump After Nvidia Ceo Sees Use Many Years Aw

Bonisiwe Shabane
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quantum computing stocks slump after nvidia ceo sees use many years aw

Several stocks across the quantum computing industry, including Rigetti Computing (RGTI), D-Wave Quantum (QBTS), IonQ (IONQ), and Quantum Computing (QUBT), fell sharply Wednesday following comments from Nvidia (NVDA) CEO Jensen Huang about the technology. Huang said at an analyst event Tuesday that "very useful quantum computers," which could make a number of computing tasks more efficient, are likely 15 to 30 years away. "If you kind of said 15 years for very useful quantum computers, that would probably be on the early side," Huang said. "If you said, you know, 30, it’s probably on the late side. But if you picked 20, I think a whole bunch of us would believe it." Huang also said Nvidia is an ideal partner for quantum computing companies because "it turns out that you need a classical computer to do error correction with the quantum computer, and that classical computer...

D-Wave Quantum was down 33% Wednesday afternoon, while Rigetti, IonQ, and Quantum all declined around 40%. The Defiance Quantum (QTUM) exchange-traded fund (ETF), made up of the listed companies along with other chip and tech companies like Nvidia, was down 4.5%. A handful of quantum computing stocks have skyrocketed as some paint the technology as the next big technological innovation, but Nvidia CEO Jensen Huang warned analysts that any practical applications are still many years... Huang said Nvidia is not worried about quantum computing and added that practical applications for the nascent but powerful computers are at least 15 years away or more. “And so if you kind of said 15 years for very useful quantum computers, that’d probably be on the early side. If you said 30 is probably on the late side.

But if you picked 20, I think a whole bunch of us would believe it,” Huang told analysts, according to Axios. Quantum computers, which are powered by atom-sized “qubits” that operate via the rules of quantum mechanics, have been shown to be extremely powerful, but only in certain situations. They are distinct from existing “classical” supercomputers, which operate more similarly to a basic laptop, albeit at a much higher level. Last month, Google researchers announced its homegrown Willow quantum-computing chip could solve a complex math problem that would’ve taken the most powerful existing supercomputers 10 septillion years, or more than the estimated age of... Quantum computing stocks Rigetti Computing, IonQ, D-Wave Quantum, and Quantum Computing initially popped when Nvidia CEO Jensen Huang unveiled a new architecture called NVQLink to connect quantum computers with GPU supercomputers to aid in... “Working together, the right algorithms running on the GPUs, the right algorithms running on the QPUs, and the two computers working side by side — this is the future of quantum computing,” Huang said.

Two of these stocks, Rigetti Computing and IonQ, were listed as “partners contributing” to this new tech in a press release. However, the stocks then all reversed course to tumble into the red when Huang said, “Today, we’re announcing that the Department of Energy is partnering with Nvidia to build seven new AI supercomputers to... There may be some conflation of “AI supercomputer” and “quantum computer” going on here. This is not necessarily a competing product, but rather two things that are supposed to work hand in hand!

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Several stocks across the quantum computing industry, including Rigetti Computing (RGTI), D-Wave Quantum (QBTS), IonQ (IONQ), and Quantum Computing (QUBT), fell sharply Wednesday following comments from Nvidia (NVDA) CEO Jensen Huang about the technology. Huang said at an analyst event Tuesday that "very useful quantum computers," which could make a number of computing tasks more efficient, are li...

D-Wave Quantum Was Down 33% Wednesday Afternoon, While Rigetti, IonQ,

D-Wave Quantum was down 33% Wednesday afternoon, while Rigetti, IonQ, and Quantum all declined around 40%. The Defiance Quantum (QTUM) exchange-traded fund (ETF), made up of the listed companies along with other chip and tech companies like Nvidia, was down 4.5%. A handful of quantum computing stocks have skyrocketed as some paint the technology as the next big technological innovation, but Nvidia...

But If You Picked 20, I Think A Whole Bunch

But if you picked 20, I think a whole bunch of us would believe it,” Huang told analysts, according to Axios. Quantum computers, which are powered by atom-sized “qubits” that operate via the rules of quantum mechanics, have been shown to be extremely powerful, but only in certain situations. They are distinct from existing “classical” supercomputers, which operate more similarly to a basic laptop,...

Two Of These Stocks, Rigetti Computing And IonQ, Were Listed

Two of these stocks, Rigetti Computing and IonQ, were listed as “partners contributing” to this new tech in a press release. However, the stocks then all reversed course to tumble into the red when Huang said, “Today, we’re announcing that the Department of Energy is partnering with Nvidia to build seven new AI supercomputers to... There may be some conflation of “AI supercomputer” and “quantum co...