Nvidia has had a roller coaster week, with its stock (NASDAQ: NVDA) hitting an all-time high on Monday, only to fall just 6.2% on Tuesday, closing at $140.14.
Founder and CEO Jensen Huang is currently channeling his volatility into quantum computing stocks like IonQ and Righetti Computing, but is bearish on the market readiness of quantum computing technology. After that, the stock price fell.
What Mr. Huang said about quantum computing
Speaking to analysts yesterday, Huang said a “very useful quantum computer” was decades away.
“If you say a very useful quantum computer has a lifespan of 15 years, it’s probably on the sooner side. If you say 30 years, it’s probably on the slower side. But if you choose 20, I think we all believe that.”
Nvidia CEO Jensen Huang, January 7, 2025
Huang also emphasized that the technology has value in more specific use cases, such as encryption.
Quantum Computing Stocks Slides
This prediction drove quantum computing stocks such as IONQ (NYSE: IONQ), DWave Quantum (NYSE: QBTS), Quantum Computing (NASDAQ: QUBT), and Righetti (NASDAQ: RGTI) up 40% on Wednesday. It has fallen more than that. Intraday trading.
Although quantum computing has been around for decades, it is still an experimental technology that uses quantum mechanics to solve complex problems much faster than classical computers.
However, it still has high error rates and is a major barrier to scalability and stability.
Google and IBM join Big Tech companies in quantum space
Big technology companies such as Alibaba, Google, IBM, and Microsoft are investing heavily in developing scalable quantum computing hardware, software ecosystems, and even cloud-based quantum platforms.
Companies such as IonQ and Rigetti are focused on specialized quantum technologies (trapped ions in IonQ’s case, superconducting processors in Rigetti’s case) and are carving out niches with hardware innovations and hybrid quantum-classical computing solutions. We aim to develop.
In December, Google unveiled its latest quantum chip, Willow, which it says can solve computational problems that would take today’s fastest supercomputers 1 billion years “in less than five minutes.”
Google claims Willow’s design significantly reduces error rates using advanced error correction, improved qubit coherence, and surface codes for scalable and reliable quantum computing. .
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