D-Wave Quantum's CEO, Alan Baratz, has publicly refuted Nvidia's CEO Jensen Huang, declaring him "dead wrong" about the future of quantum computing. Huang recently asserted that it would take 15 to 30 years for quantum computers to become commercially viable. In a pointed response, Baratz emphasized that D-Wave is already operational in the market, boasting significant clientele and capabilities that surpass traditional computing systems.
Baratz's comments come in light of Huang's remarks, which have contributed to a downturn in stocks within the quantum computing sector. Following Huang's statements, D-Wave's shares plummeted by 36% on Wednesday alone. Despite this setback, D-Wave has seen remarkable growth over the past year, with its stock price increasing approximately 600%, leading to a market capitalization of $1.6 billion.
Notably, companies such as Mastercard and Japan's NTT Docomo are actively utilizing D-Wave's quantum systems for production-level applications. Baratz highlighted that D-Wave's technology can tackle problems that exceed the capabilities of the fastest systems equipped with Nvidia's graphics processing units (GPUs). This assertion challenges Huang's perspective that quantum technology is still decades away from practical use.
Baratz stated, "The reason he's wrong is that we at D-Wave are commercial today." He offered further clarification on the distinction between types of quantum computing, asserting, "While Huang's comments may not be totally off-base for gate model quantum computers, well, they are 100% off base for annealing quantum computers."
D-Wave's resurgence in investor interest began in December following a breakthrough announcement from Google regarding its quantum research. This news sparked renewed enthusiasm across the quantum computing landscape, benefiting various companies, including D-Wave. In December alone, D-Wave shares soared by 178%, building on a staggering 185% increase the previous month.
Despite the volatility in its stock price, D-Wave's current market trajectory reflects a growing recognition of its potential. The company reported $1.9 million in sales during its latest quarter, down 27% from $2.6 million a year earlier. However, Baratz remains optimistic about future growth and the sustainability of D-Wave's commercial model.
Huang's assertions have not only impacted D-Wave but have also affected Nvidia’s own stock performance. The company has seen its market capitalization rise by 168% in the past year, reaching $3.4 trillion. As both companies navigate the rapidly evolving tech landscape, the debate over the timeline and viability of quantum computing continues to intensify.
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