Alan Baratz, the CEO of D-Wave Quantum, stated that Nvidia’s Jensen Huang is completely mistaken on quantum computing after the chip giant’s remarks alarmed Wall Street on Wednesday.
On Tuesday, Huang was questioned regarding Nvidia’s approach to quantum computing. According to him, Nvidia could produce the necessary conventional chips in addition to quantum computing chips, but such computers would require a million times as many qubits—quantum processing units—as they do now.
Huang warned analysts that it might take 15 to 30 years to get extremely useful quantum computers to market.
Huang’s comments caused the fledgling industry’s stocks to plummet, with D-Wave falling 36% on Wednesday.
“We at D-Wave are commercial today, which is why he’s wrong,” Baratz told CNBC’s Deidre Bosa on The Exchange. According to Baratz, businesses like MasterCard and NTT Docomo in Japan are currently utilizing our quantum computers in production to enhance their business operations.
“Not in thirty years, not in twenty years, not in fifteen years,” Baratz stated. But today, right now.
D-Wave’s earnings remain low. The most recent quarter saw a 27% decline in sales, from $2.6 million to $1.9 million.
Large-scale simulations, random number generation, and encryption decoding are just a few of the issues that quantum computing promises to resolve but are now challenging for existing processors. Researchers at startups and colleges are currently exploring it, as are firms like Nvidia, Microsoft, and IBM. Technologists have been working on it for decades.
When Google revealed a breakthrough in its own research in December, D-Wave was one of several businesses that saw a resurgence in investor interest. Google said that it had finished the second of six steps in its plan to create a quantum system with one million qubits: a 100 qubit device.
In December, D-Wave’s stock jumped 178% after soaring 185% in the previous month. Last month, the value of the quantum business Rigetti Computing quintupled, then it fell 45% on Wednesday.On Wednesday, IonQ fell 39%. After rallying 143% in November, the stock increased 14% in December.
Baratz admitted that the gate-based method of quantum computing might not be developed for decades. However, he claimed that D-Wave used an annealing technique that is currently deployable.
According to Baratz, Huang’s remarks are completely incorrect for annealing quantum computers, even though they might not be entirely incorrect for gate model quantum computers.
Nvidia chose not to respond.
Despite Wednesday’s decline, D-Wave’s market capitalization is $1.6 billion, with shares rising over 600% over the past year.
Investor interest in artificial intelligence, a technology that has increased demand for Nvidia’s graphics processing units—which employ traditional transistors rather than Qubits—has also fueled interest in quantum computing. In the last year, Nvidia’s market value has grown by 168% to $3.4 trillion.
According to Baratz, D-Wave systems are capable of solving issues that the fastest Nvidia-equipped computers cannot.
In order to help Jensen fill in these gaps, Baratz stated that he would be pleased to meet with him at any time or anywhere.
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