Quantum computing stocks are moving between gains and losses today after they tumbled on Wednesday due to negative comments about the sector by Nvidia’s (NVDA) CEO, Jensen Huang. The continued volatility comes amid positive news and an upbeat, long-term target released by one of the companies in the space, IonQ (IONQ). The latter company’s shares are little changed, while Rigetti Computing (RGTI) is sinking 7% and D-wave Computing (QBTS) is falling 1.5%.
Additionally, the CEO of D-Wave Quantum (QBTS), disputed Huang’s assessment.
A modern computer datacenter, running an advanced quantum computer system.
Huang’s Bearish Comments
Huang indicated that quantum computing may not make significant, positive contributions for 15 years. And he claimed that many people “believe” that the technology will be “very useful” in 20 years.
IonQ’s Bullish News
The quantum computing firm predicted that its 2024 revenue and bookings would be at the high end of the guidance ranges that it previously released. In November, the firm estimated that its full-year revenue would be between $38.5 million and $42.5 million, while it would generate bookings of $75 million to $95 million.
Moreover, the company predicted today that it would generate a profit in 2030 on revenue of nearly $1 billion.
D-Wave CEO Says That Huang’s Comments Are Inaccurate
“D-Wave has been able to solve problems on our quantum computer in the area of materials simulation in minutes that it would take well over millions of years to solve on the fastest supercomputers,” D-Wave CEO Alan Baratz told CNBC yesterday.
Baratz added that the company’s “annealing quantum computing solutions are available today and are solving real-world problems for businesses, researchers and governments now,” according to a press release issued by the company.
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Disclosure: None. This article is originally published at Insider Monkey.