Major quantum computing companies including D-Wave (QBTS), Rigetti Computing (RGTI), and Quantum Computing (QUBT) plunged in trading on Wednesday after Nvidia’s (NVDA) CEO Jensen Huang expressed skepticism regarding quantum computing. However, D-Wave’s CEO refuted Huang’s comments.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
Huang was asked on Tuesday whether the chip major had a strategy in place regarding quantum computing. Responding to the query, Huang was skeptical about the timeline for quantum computing. He stated it could take 15 to 30 years to bring “very useful quantum computers” to market.
D-Wave’s CEO Responds to Huang’s Comments
In an interview with CNBC, D-Wave CEO Alan Baratz responded to Huang’s comments and disagreed with him. Baratz called his comments about quantum computing “dead wrong.” Huang had also mentioned that conventional chips would still be necessary, with quantum computers needing a million times more quantum processing units (qubits) than they currently possess.
However, Baratz countered Huang’s remarks, pointing out that D-Wave is already commercially viable. He commented, “The reason he’s wrong is that we at D-Wave are commercial today.” Furthermore, he pointed to major companies like Mastercard (MA) and Japan’s NTT Docomo, who are already using D-Wave’s quantum computers to improve their business operations.
As a result, Baratz stated that, contrary to Huang’s predictions, D-Wave’s quantum computers are actively benefiting businesses now, not in decades.
D-Wave’s Revenues Still Remain Modest
However, despite D-Wave’s commercial success, its revenue remains modest, with a 27% year-over-year drop in sales to $1.9 million in the latest quarter. Nevertheless, the company’s focus is on solving complex problems beyond the capabilities of current processors, such as large-scale simulations and encryption decoding.
Baratz added that D-Wave uses an annealing approach to quantum computing, which is deployable today. An annealing approach to quantum computing is a type of quantum computer that solves optimization problems by using quantum mechanics to efficiently explore possible solutions.
Additionally, Baratz acknowledged that Huang’s comments might apply to gate-based quantum computing, which could be decades away.
What Is the Best Stock to Buy in Quantum Computing?
For investors interested in investing in the quantum computing sector, we have rounded up the best stocks that analysts are bullish about using the TipRanks Stocks Comparison tool.
