In January 2025, Nvidia CEO Jensen Huang made headlines with his assertion that “very useful quantum computers” are likely 15 to 30 years away. This statement, delivered during the Consumer Electronics Show (CES), sent shockwaves through the quantum computing industry, leading to immediate stock declines for several companies in the sector.
Huang’s remarks had a swift and profound impact on the stock market:
Rigetti Computing: Experienced a sharp decline in stock value following the comments.
D-Wave Quantum: Saw its stock plummet by 33% in the aftermath.
IonQ: Also faced significant stock declines, reflecting investor concerns.
The Defiance Quantum ETF, which includes these and other tech companies, dropped by 4.5% on the same day.
Huang’s perspective has been met with mixed reactions within the industry:
D-Wave CEO Alan Baratz: Strongly disagreed, stating that Huang’s view is “dead wrong” and emphasizing that practical quantum computing is already being realized today.
SpinQ: The CEO of SpinQ also challenged Huang’s timeline, asserting that practical quantum computers are already a reality and are being used in various applications.
These differing opinions highlight the ongoing debate about the current capabilities and future potential of quantum computing.
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In response to the controversy and to further explore the topic, Nvidia has announced its inaugural “Quantum Day” scheduled for March 20, 2025. The event aims to bring together industry leaders and researchers to discuss quantum computing’s present advances and future potential.
Jensen Huang’s comments have sparked a significant debate within the quantum computing industry, leading to immediate financial impacts and prompting discussions about the technology’s future. As the industry continues to evolve, events like Nvidia’s “Quantum Day” will play a crucial role in shaping the discourse and development of quantum computing technologies.
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