D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz has criticized Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang for his comments regarding the timeline for achieving practical quantum computing, saying he is "dead wrong."
What Happened: Huang's remarks during Nvidia's analyst day, suggesting a 15 to 30-year wait for "very useful quantum computers," have sparked a heated debate in the tech community.
Baratz strongly disagreed with Huang's timeline, stating that D-Wave's quantum computers are already in commercial use by companies like Mastercard Inc. (NYSE:MA) and Japan's NTT Docomo, reported CNBC.
"Not 30 years from now, not 20 years from now, not 15 years from now," he stated, adding, "But right now today."
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Baratz stated that while Huang's remarks may hold some validity for gate model quantum computers, they are "100% off base" when it comes to annealing quantum computers.
He expressed willingness to meet with Huang to discuss the capabilities of D-Wave's technology, highlighting that their systems can tackle problems beyond the reach of Nvidia's fastest systems.
"I'll be happy to meet with Jensen any time, any place, to help fill in these gaps for him," the D-Wave CEO said.
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Why It Matters: After Huang's comments, quantum computing stocks experienced significant declines on Wednesday.
During regular trading hours, IonQ Inc. (NYSE:IONQ) dropped by 39%, while Quantum Computing Inc. (NASDAQ:QUBT) saw a 43.34% decline.
D-Wave and Rigetti Computing Inc. (NASDAQ:RGTI) also faced declines, with their stocks falling by 36.13% and 45.41%, respectively.
Price Action: D-Wave's stock tumbled by 36.13% on Wednesday, but rebounded in after-hours trading with a 6.39% increase, reaching $6.49. Despite the decline, the company's shares have skyrocketed by 600% over the past year, according to Benzinga Pro data.
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Read Also:
- Jim Cramer Sees Buying Opportunity In Nvidia But Attributes 6% Fall To 'Too Much Hot Money' After Jensen Huang's CES Keynote
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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