Nvidia CEO Jensen Huang aimed to calm investors’ concerns about quantum computing stocks after sparking a sell-off earlier in the year. However, his latest comments at the company’s “Quantum Day” event on Thursday only seemed to worsen the situation.
Huang previously stated that it would take at least 15 years for useful quantum computers to become available, prompting a downturn in the sector. Despite walking back those comments and saying he was surprised by their impact on markets, several key stocks plummeted on Thursday, including D-Wave, which dropped 18%, and the Quantum Defiance ETF, which fell 2%.
The event, which featured executives from major quantum firms, appeared to be a show of support for the industry. However, Huang’s comments about quantum computing being “poorly positioned” as a replacement for classical systems raised concerns among analysts.
Nvidia has benefited from the rise of quantum computing, with its research simulators helping advance the technology. The company is also working on integrating GPUs with quantum chips. On Thursday, Nvidia announced plans to build a research center in Boston that will collaborate with Harvard and MIT researchers.
Despite Huang’s positive statements about the potential impact of quantum computing, investors remain skeptical, with the Quantum Defiance ETF down more than 4% this year. The technology is “insanely complicated,” according to the CEO.
Source: https://www.cnbc.com/2025/03/21/nvidias-ceo-tried-to-help-the-quantum-companies-but-a-sell-off-in-the-stocks-ensued.html