University of Kwazulu-Natal

Quantum No Solace Nvidia Ceo Sinks Qc Stocks With 20 Years Off Msn

Bonisiwe Shabane
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quantum no solace nvidia ceo sinks qc stocks with 20 years off msn

CES The quantum computing industry seems to be just as delicate as the qubits it relies on. Shares in some publicly traded QC companies saw steep declines today, following Nvidia CEO Jensen Huang's CES rather reasonable remark that practical quantum systems may still be 20 years away. Speaking at a financial analyst Q&A session at the electronics super-conference yesterday, Huang said (39:30 into the video) the world is probably five to six orders of magnitude away from the number of qubits... "If you said 15 years for very useful quantum computers that would probably be on the early side," Huang predicted. "If you said 30, it's probably on the late side. If you picked 20, I think a whole bunch of us would believe it."

Yes, keep buying those Nvidia GPUs for another couple of decades, please. Huang's grim but frankly realistic outlook on the future of quantum computing added to the sector's woes, with some companies seeing stock prices plummeting when markets opened the next day. D-Wave, Quantum Computing Inc, Rigetti, and IONQ are all down nearly 50 percent as of writing. The only leading publicly-traded quantum computing firm to escape a 50-percent decline in value is UK-based Arqit Quantum, but it's still down by around 30 percent. 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 dropped Wednesday after Nvidia CEO Jensen Huang declared that useful quantum computers are many years away. "If you said 15 years for very useful quantum computers, that would probably be on the early side," he said during Nvidia's analyst day. "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." Huang said he believes Nvidia will play a "very significant part" in creating the computers and helping the industry "get there as fast as possible." Stocks tied to quantum computing tumbled on the heels of the comments, with Rigetti Computing plunging 40%, while IonQ shed 37%.

D-Wave Quantum dropped more than 30%, while the Defiance Quantum & AI ETF fell 4%. Quantum Computing, which announced a stock offering to raise $100 million, sank 37%. "As valuations have become a bit lofty, we're not surprised by today's correction," said AXS Investments CEO Greg Bassuk, calling the reaction somewhat "overblown." 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%.

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