University of Kwazulu-Natal

Quantum Computing Stocks Tumble After Nvidia Boss Jensen Huang Says Th

Bonisiwe Shabane
-
quantum computing stocks tumble after nvidia boss jensen huang says th

The entire Quantum Computing stock industry took a massive hit on Wednesday as NVIDIA CEO, Jensen Huang, made comments about the industry during the company’s investor day. Juang commented that “If you said 15 years for very useful quantum computers, that would probably be on the early side,”. Juang followed-up with “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.” Quantum computing has taken the lead role, in terms of performance, from Ai industry stocks over the last two months since Google announced the development of its “Willow” chip. The Willow chip demonstrates that quantum computers can solve specific problems much faster than classical supercomputers.

Google announced that Willow performed a standard benchmark computation in under five minutes that would take one of today’s fastest supercomputers 10 septillion years. Google is the strongest candidate for quantum computing hardware breakthroughs over the next 5 years. Shares of quantum computing firms took a significant hit in aftermarket trading on Tuesday, following remarks from NVIDIA CEO Jensen Huang that cast doubt on the near-term viability of the technology. Companies like IONQ, D-Wave Quantum, QuantumSi, Quantum Computing Inc., and Rigetti Computing saw stock declines ranging from 3% to 15%. This downturn came on the heels of a broader sell-off in the tech sector, which has been under pressure in recent weeks. During an investor meeting, Huang made it clear that he views quantum computing as still being in its infancy, suggesting that it could take at least 20 years before the technology becomes genuinely useful.

His comments, made in response to a question from Evercore analyst Mark Lipacis, were striking. Huang noted that if one were to estimate a timeline for practical quantum computers, 15 years might be overly optimistic, while 30 years could be too conservative. “But if you picked 20, I think a whole bunch of us would believe it,” he stated, underscoring the uncertainty surrounding the timeline for quantum advancements. The skepticism from Huang is not without merit. Quantum computing, which leverages the principles of quantum mechanics to tackle complex computational problems, faces numerous physical challenges. The intricacies of manipulating quantum phenomena are daunting, and Huang emphasized that quantum technology cannot address every problem.

He pointed out that classical computing remains essential for error correction, a process that is vital for quantum systems to function effectively. This interdependence highlights a significant hurdle: quantum computing cannot yet operate independently of classical systems, limiting its immediate applicability. Despite Huang’s cautious outlook, advocates of quantum computing continue to champion its potential as a transformative force in the tech landscape. Recent announcements, such as Google’s claim of overcoming a pivotal challenge with a new quantum chip, have sparked excitement. However, even with such advancements, experts agree that practical implementation is still years away. The gap between theoretical breakthroughs and real-world applications remains a chasm that the industry must navigate.

The reaction of the market reflects a broader sentiment of uncertainty surrounding the future of quantum computing. Investors, already jittery from a tech sector slump, appear to be recalibrating their expectations based on Huang’s comments. The reality is that while quantum computing holds promise, the path to practical utility is fraught with challenges that are not easily surmountable.

People Also Search

The Entire Quantum Computing Stock Industry Took A Massive Hit

The entire Quantum Computing stock industry took a massive hit on Wednesday as NVIDIA CEO, Jensen Huang, made comments about the industry during the company’s investor day. Juang commented that “If you said 15 years for very useful quantum computers, that would probably be on the early side,”. Juang followed-up with “If you said 30, it’s probably on the late side. But if you picked 20, I think a w...

Google Announced That Willow Performed A Standard Benchmark Computation In

Google announced that Willow performed a standard benchmark computation in under five minutes that would take one of today’s fastest supercomputers 10 septillion years. Google is the strongest candidate for quantum computing hardware breakthroughs over the next 5 years. Shares of quantum computing firms took a significant hit in aftermarket trading on Tuesday, following remarks from NVIDIA CEO Jen...

His Comments, Made In Response To A Question From Evercore

His comments, made in response to a question from Evercore analyst Mark Lipacis, were striking. Huang noted that if one were to estimate a timeline for practical quantum computers, 15 years might be overly optimistic, while 30 years could be too conservative. “But if you picked 20, I think a whole bunch of us would believe it,” he stated, underscoring the uncertainty surrounding the timeline for q...

He Pointed Out That Classical Computing Remains Essential For Error

He pointed out that classical computing remains essential for error correction, a process that is vital for quantum systems to function effectively. This interdependence highlights a significant hurdle: quantum computing cannot yet operate independently of classical systems, limiting its immediate applicability. Despite Huang’s cautious outlook, advocates of quantum computing continue to champion ...

The Reaction Of The Market Reflects A Broader Sentiment Of

The reaction of the market reflects a broader sentiment of uncertainty surrounding the future of quantum computing. Investors, already jittery from a tech sector slump, appear to be recalibrating their expectations based on Huang’s comments. The reality is that while quantum computing holds promise, the path to practical utility is fraught with challenges that are not easily surmountable.