Shares of D-Wave Quantum and its peers dropped after Nvidia CEO Jensen Huang stated quantum computers are decades away. D-Wave CEO Alan Baratz refuted Huang's claim, asserting D-Wave has existing paying clients and is commercially viable today.
Shares of D-Wave Quantum and its peers plunged Wednesday after Nvidia CEO Jensen Huang suggested that quantum computers are decades away. D-Wave CEO Alan Baratz told CNBC that Huang is 'dead wrong' and that his company has big paying clients today. Jensen Huang is 'dead wrong' about quantum computing after comments from the head of the chip giant spooked Wall Street on Wednesday.Huang was asked Tuesday about Nvidia 's strategy for quantum computing.
He said Nvidia could make conventional chips that are needed alongside quantum computing chips, but that those computers would need 1 million times the number of quantum processing units, called qubits, that they currently have. 'The reason he's wrong is that we at D-Wave are commercial today,' Baratz told CNBC's Deirdre Bosa on 'The Exchange.' Baratz said companies including are already using D-Wave's technology. 'Not 30 years from now, not 20 years from now, not 15 years from now,' Baratz said. 'But right now today.' Quantum computing promises to solve problems that are difficult for current processors, such as decoding encryption, generating random numbers and large-scale simulations. Technologists have been working on it for decades, and companies including Nvidia, have been investing heavily. Baratz acknowledged that one approach to quantum computing, called gate-based, may be decades away. But he said D-Wave uses an annealing approach, which can be deployed now. While Huang's 'comments may not be totally off-base for gate model quantum computers, well, they are 100% off base for annealing quantum computers,' Baratz said. Even after Wednesday's slide, D-Wave shares are up about 600% in the last year, giving the company a market cap of $1.6 billion. Quantum computing has also been boosted by investor interest in artificial intelligence, the technology that's led to surging demand for Nvidia's graphics processing units, which use conventional transistors instead of qubits
QUANTUM COMPUTING D-WAVE Nvidia JENSEN HUANG ALAN BARATZ
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