D wave quantum CEO Alan Balazs said NVIDIA The head of the chip giant shocked Wall Street on Wednesday with comments that Jen-Hsun Huang was “completely wrong” about quantum computing.
On Tuesday, Huang was asked about Nvidia’s quantum computing strategy. He said Nvidia could produce traditional chips for use with quantum computing chips, but those computers would require 1 million times the number of quantum processing units, called qubits, than currently.
Huang told analysts that it could take 15 to 30 years to bring “a very useful quantum computer” to market.
Huang’s comments caused stocks in emerging industries to plummet, D wave plummets On Wednesday it was 36%.
“The reason he’s wrong is because our current D-Wave is commercial,” Baratz told CNBC’s Deirdre Bosa on “The Exchange.” Baratz said companies including MasterCard Japan’s NTT Docomo “is currently using our quantum computers in production to benefit its business operations.”
“Not 30 years from now, not 20 years from now, not 15 years from now,” Balatz said. “But today.”
D-Wave’s revenue remains minimal. Sold in most recent quarter It fell 27% to $1.9 million from $2.6 million in the same period last year.
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, Microsoft and IBM are now working on it with researchers at startups and universities.
Nvidia co-founder and CEO Jensen Huang speaks with a Project Digits computer at the 2025 CES event in Las Vegas, Nevada, USA, Monday, January 6, 2025. Chips, software and services designed to stay at the forefront of artificial intelligence computing. Photographer: Bridget Bennett/Bloomberg via Getty Images
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D-Wave was one of many companies to revive investor interest in December, when Google Announce a breakthrough in your research. Google says it has completed a 100-qubit chip, the second of six steps in its strategy to build a 1 million-qubit quantum system.
D-Wave shares soared 178% in December after soaring 185% the previous month. Quantum Corporation give up calculationIt plunged 45% on Wednesday and has quintupled in value in the last month. IonQ It fell 39% on Wednesday. The stock rose 14% in December, following a 143% gain in November.
Balatz acknowledged that an approach to quantum computing known as gate-based quantum computing may still be decades away. But he said it uses an annealing method and can be deployed now.
Balazs said that while Huang’s “comments about gate model quantum computers may not be completely wrong, they are 100 percent wrong for annealing quantum computers.”
Nvidia declined to comment.
Even after Wednesday’s decline, D-Wave’s shares are still up about 600% last year, giving the company a market value of $1.6 billion.
Quantum computing has also been fueled by investor interest in artificial intelligence, with the technology leading to a surge in demand for Nvidia’s graphics processing units, which use traditional transistors instead of qubits. Nvidia’s market capitalization has increased 168% in the past year, reaching $3.4 trillion.
Baratz said the D-Wave system can solve problems that the fastest Nvidia-equipped systems can’t.
“I’m excited to meet with Jansen whenever and wherever possible to help him fill those gaps,” Balatz said.
watch: D-Wave CEO responds to Huang’s comments
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