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Quantum Computing Stocks Tank As Nvidia Ceo Jensen Tom S Hardware

Bonisiwe Shabane
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quantum computing stocks tank as nvidia ceo jensen tom s hardware

Quantum computing stocks tanked by over 40% after Huang's statement When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Nvidia CEO Jensen Huang purportedly was responsible for tanking quantum computing stocks on Wednesday after a claim he had made about quantum computers' usefulness. Reuters reports that Jensen Huang believes quantum computer usefulness will only truly take place in 20 years, tanking several quantum computing stocks by more than 40%. According to Reuters, Jensen Huang claimed on Tuesday, "If you kind of said 15 years...

that'd probably be on the early side. If you said 30, it's probably on the late side. But if you picked 20, I think a whole bunch of us would believe it." Jensen's statement alone caused Rigetti Computing (RGTI.O), D-Wave Quantum (QBTS.N), Quantum Computing (QUBT.O), and IonQ (IONQ.N), stock to fall more than 40%, combining for a lost market value of over $8 billion. 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. Jensen Huang says quantum computing is far off from being mainstream, but Nvidia seems ready to invest. When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.

A new report from The Information suggests that Nvidia is involved in serious talks to invest in PsiQuantum—a quantum computing startup company dedicated to making what they describe as "the world's first useful quantum... Many quantum computing hurdles have yet to be overcome so the technology isn't readily available, especially on a commercial scale. This puts Nvidia in a leading position to support and likely influence this new technology long before it becomes a new standard. As far as we know, this is some of the only investing we've seen Nvidia put towards the development of a quantum computer. Although it shouldn't be surprising after Nvidia's collaboration with SandboxAQ, which is known for the development of quantum computing software algorithms. The timing of this investment is eye-catching, however, as just a few months ago, Nvidia CEO Jensen Huang caused a dip in the stock market after some serious remarks about quantum computing.

The biggest claim was that quantum computing technology wouldn't be particularly useful for another few decades. That said, Huang is still very much interested in quantum computing and is putting his money where his mouth is. Just because it isn't immediately available doesn't mean he wants Nvidia lagging behind as this technology develops.

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Quantum computing stocks tanked by over 40% after Huang's statement When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works. Nvidia CEO Jensen Huang purportedly was responsible for tanking quantum computing stocks on Wednesday after a claim he had made about quantum computers' usefulness. Reuters reports that Jensen Huang believes quantum computer usef...

That'd Probably Be On The Early Side. If You Said

that'd probably be on the early side. If you said 30, it's probably on the late side. But if you picked 20, I think a whole bunch of us would believe it." Jensen's statement alone caused Rigetti Computing (RGTI.O), D-Wave Quantum (QBTS.N), Quantum Computing (QUBT.O), and IonQ (IONQ.N), stock to fall more than 40%, combining for a lost market value of over $8 billion. The quantum computing sector e...

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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 Alpha...

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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 be...

These Include Not Only The Technical Hurdles Of Maintaining Quantum

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...