Nvidia (NVDA) CEO Jensen Huang is growing more bullish about quantum computing, which has invited similar sentiment among investors in quantum stocks. Speaking at Nvidia’s GTC Paris developer conference on Wednesday, Huang declared that Quantum is upon us, and will be crucial to computing and technology in the near future. “Quantum computing is reaching an inflection point,” Huang said during his keynote speech.
“We are within reach” of being able to apply quantum computers “in areas that can solve some interesting problems in the coming years,” Huang added. Quantum computers are machines that use the laws of quantum mechanics to solve problems too complex for classical computers, which store information in bits (ones and zeroes). Quantum computers use quantum bits, or “qubits,” which can be zero, one, or something in between. The aim is to process significantly larger volumes of data to facilitate breakthroughs in areas such as medicine, science, and finance.
Quantum Computing has been buzzing as of late, with Quantum stocks on the rise. Nvidia CEO Huang’s opinion on the industry was previously bearish, saying that quick timelines for the incorporation of quantum were “too early.” However, Huang has now changed his tune, much to the approval of investors in the quantim industry.
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Huang on Wednesday said he’s been impressed with the “large community” of quantum computing companies within Europe. He added he’d met with representatives of French quantum startup Pasqal earlier this week. Nvidia isn’t the only top tech firm on the bullish side of quantum engineering either. Late last year, Google announced its latest quantum chip, Willow, which it said marked a major breakthrough in so-called “error correction” — a set of techniques used to protect quantum information from errors. IBM is also looking to create a quantum computer that can be error-free.
At press time, Quantum Computing Inc. (QUBT) stock is up over 20%, now trading above $19 a share.