D-Wave Quantum CEO Alan Baratz refuted Nvidia CEO Jensen Huang’s claims about the state of quantum computing, made during a recent conference. Huang expressed skepticism about the immediate utility of quantum chips, suggesting it could take 15 to 30 years to develop useful quantum computers capable of performing tasks currently handled by conventional chips. His remarks caused a significant decline in stock prices within the quantum computing sector, with D-Wave shares dropping 36%. In response, Baratz emphasized that D-Wave is already operating commercially, with clients like Mastercard and Japan’s NTT Docomo utilizing their quantum systems in production now, not decades in the future. While acknowledging that gate-based quantum computing may indeed be years away, he asserted that their quantum annealing technology is ready for application today. Despite a recent drop in revenues, D-Wave’s stock has surged 600% over the past year, reflecting growing interest in quantum technology. Baratz also challenged Huang to a discussion to clarify misconceptions about the current capabilities of D-Wave systems compared to traditional computing. In contrast, Nvidia has seen a 168% increase in market cap due to the rising demand for its AI-focused graphics processors.
