Quantum computing stocks surged Tuesday after a massive sell-off fueled by skepticism about their practical use. Rigetti Computing rose 48%, D-Wave jumped 23%, and Quantum Computing climbed 14%. The decline came after Meta CEO Mark Zuckerberg expressed doubts about the timeline for practical quantum computing, saying it’s likely a “decade-plus out.” Nvidia CEO Jensen Huang also made similar comments earlier this month.
However, D-Wave CEO Alan Baratz disputed these claims, stating that his company has customers using its quantum computers today and has solved important problems in material simulation. He criticized Nvidia’s GPU systems, which he claimed couldn’t solve the same problem in minutes.
The sector saw a surge in interest and investment last November and December, with Amazon launching a quantum computing advisory program and the US government pledging $2.7 billion for research. Google also introduced a new quantum computing chip called Willow.
Despite D-Wave’s gains, its stock is still trading at less than half of its value from two weeks ago. Nevertheless, shares have risen nearly 520% from last year, showing that investors remain bullish on the technology’s potential.
Source: https://finance.yahoo.com/news/quantum-computing-stocks-rebound-after-massive-sell-off-as-industry-exec-says-opportunity-is-real-175835656.html