“Quantum Computing’s Uncertain Future: Nvidia’s CEO Casts Doubt on Timely Breakthroughs”
**Quantum Computing Stocks Plunge After Nvidia CEO’s Comments**
The hype around quantum computing stocks has taken a hit after Nvidia CEO Jensen Huang’s comments at the Consumer Electronics Show (CES) in Las Vegas. Huang’s statement, “Very useful quantum computers may be 20 years away,” sent shockwaves through the industry, causing stocks to plummet.
Rigetti Computing (RGTI), IonQ (IONQ), and other companies in the sector saw their stock prices drop more than 40%. Fellow stocks in the industry, D-Wave Quantum (QBTS) and Quantum Computing (QUBT), fell 48% and 50%, respectively.
The decline comes after a period of rapid growth for these stocks, with Quantum Computing up nearly 1,400%, Rigetti up more than 850%, D-Wave having soared 360%, and IonQ up 265% in the past six months.
Huang’s comments were part of a broader conversation about the challenges and limitations of quantum computing. “Quantum computing can’t solve every problem,” he said. “If you think it will take 15 years for a very useful quantum computer, that’s probably early days. If you say 30, it’s probably too late. But if you pick 20, I think a lot of us would believe it.”
Nvidia is still betting on quantum computing, despite Huang’s cautionary words. The company is working with “almost every quantum computing company” and plans to expand its CUDA software development kit (currently used by developers to develop artificial intelligence applications) for quantum software developers in 2022.
However, Hughes’ comments did not dim the enthusiasm of investors, who still believe in the potential of quantum computing. The U.S. government is also committed to the emerging industry, with senators proposing a bill to reauthorize the National Quantum Initiative Act of 2018 and commit an additional $2.7 billion to quantum computing research.
**FAQs:**
1. What did Jensen Huang say about quantum computing?
Huang stated that “Very useful quantum computers may be 20 years away” and that “Quantum computing can’t solve every problem.”
2. How did the stock market react to Huang’s comments?
The stock market reacted negatively, with Rigetti Computing, IonQ, and other companies in the sector seeing their stock prices drop more than 40%.
3. What is Nvidia’s stance on quantum computing?
Nvidia is still betting on quantum computing, despite Huang’s cautionary words. The company is working with “almost every quantum computing company” and plans to expand its CUDA software development kit for quantum software developers in 2022.
**Conclusion:**
Huang’s comments have sent shockwaves through the quantum computing industry, causing stock prices to plummet. However, investors remain optimistic about the potential of the technology, with many believing that it will take 20 years for a very useful quantum computer to be developed. As the US government and other companies continue to invest in the sector, the future of quantum computing remains bright.
