Quantum computing, AI stocks rise as Nvidia kicks off annual conference
March 17 (Reuters) - Shares of quantum computing and artificial intelligence companies rose on Monday, as investors hoped that Nvidia would blow some life back into the beaten-down sectors with new announcements at its annual conference.
The five-day GTC AI conference, which was already underway, will devote an entire day to quantum computing and feature executives from notable firms including D-Wave Quantum and Rigetti Computing.
Several quantum computing stocks jumped, with D-Wave Quantum (QBTS.N), opens new tab up 9.4%, while Quantum Corp (QMCO.O), opens new tab and Quantum Computing (QUBT.O), opens new tab gained 23.1%, and 15.5%, respectively.
Other AI-linked stocks gained in choppy trading, with SES AI (SES.N), opens new tab soaring 30% and Dell Technologies (DELL.N), opens new tab up 3%.
Investors will focus on CEO Jensen Huang's keynote on Tuesday to assess the latest developments in the AI and chip sectors, which have lost some luster on concerns over competing AI products in China and worries over the impact of U.S. tariffs.
"If tomorrow's presentation is broadly positive, I don't think it would take an awful lot to see some big upward moves in anything related to AI (or) quantum (computing) from current levels," said David Morrison, senior analyst at Trade Nation.
"Looking at how oversold so many of these stocks are, it's just a question of getting a catalyst for people to come back in and redeploy funds."
The fresh focus on quantum computing is a change of pace for Huang, after his comments in January that the technology was decades away from practical use sparked a steep selloff in related stocks.
"They call this the 'Woodstock' of AI," said Ken Mahoney, CEO of Mahoney Asset Management. "If (Huang) says something a little more encouraging, that could add some boost for these stocks."
Nvidia is expected to reveal details of a new chip system, hint at plans in other computing markets including robotics and provide updates on its Blackwell Ultra chip.
Trading was volatile, however, with Rigetti Computing (RGTI.O), opens new tab reversing premarket gains.
Nvidia also reversed early gains and was last down 1.8%. The stock has slumped 11% this year after a blistering 171% rally in 2024.
"To get the AI space excited again, they have to go a little off script from what we're expecting," Mahoney said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
10 hours ago
- Reuters
Britain to allocate $116 billion to R&D in spending plan
LONDON, June 8 (Reuters) - British finance minister Rachel Reeves will allocate 86 billion pounds ($116 billion) in this week's spending review to fund research and development, the Department for Science, Innovation and Technology (DSIT) said on Sunday. It said the package, funding everything from new drug treatments and longer-lasting batteries to artificial intelligence breakthroughs, would be worth over 22.5 billion pounds a year by 2029/30, driving new jobs and economic growth. Reeves will divide more than 2 trillion pounds ($2.7 trillion) of public money between her ministerial colleagues on Wednesday, making choices that will define what the year-old Labour government can achieve in the next four years. The DSIT said the announcement on R&D follows Reeves' commitment last week to 15.6 billion pounds of government investment in local transport in city regions in the Northern England, Midlands and the South West. ($1 = 0.7398 pounds)
The Guardian
10 hours ago
- The Guardian
Ministers commit to £86bn for ‘breakthrough' UK science and tech R&D
New drug treatments, longer-lasting batteries and developing artificial intelligence are among research projects that will receive funding as part of an £86bn government investment into science and technology. Ministers have announced a £22.5bn a year commitment in research and development (R&D) over the next four years, including up to £500m for regional authorities to target the investment locally. The announcement comes before the spending review on Wednesday where Rachel Reeves, the chancellor, will set out day-to-day expenditure for three years and investment spending for four years. Reeves said: 'Britain is the home of science and technology. Through the plan for change', we are investing in Britain's renewal to create jobs, protect our security against foreign threats and make working families better off.' Peter Kyle, the science and technology secretary, said: 'R&D is the very foundation of the breakthroughs that make our lives easier and healthier – from new medicines enabling us to live longer, more fulfilled lives to developments in AI giving us time back, from easing our train journeys through to creating the technology we need to protect our planet from climate change.' Ministers said the investment would boost the life sciences industry in Liverpool, the defence sector in Northern Ireland and semiconductors in south Wales. It matches a commitment made by the previous Conservative government to spend £22bn a year on R&D. The seven mayoral strategic authorities in England – Greater Manchester, West Midlands, South Yorkshire, West Yorkshire, Liverpool City Region, North East and Greater London – will each receive awards of at least £30m each. The fund will also include a competition open to all other parts of the UK. The announcement was welcomed by Richard Parker, the mayor of the West Midlands, and Kim McGuinness, the north-east mayor. McGuinness said the funds would support the car and green energy industries in her region. The package also includes £4.8m for a partnership between Manchester and Cambridge to attract business investment. Alongside the spending review on Wednesday, Reeves is planning to announce an overhaul of the Treasury's 'green book' – the rules that govern how public investment plans are judged. Critics say the existing rules are biased in favour of London and the south-east. Sign up to First Edition Our morning email breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion Changing the rules will allow ministers to divert more money to areas of the north and Midlands, including the so-called red wall where Labour MPs face an electoral challenge from Reform UK. The chancellor will put £113bn of new capital investment in homes, transport and energy at the forefront of the spending review, money which was unlocked by changes she made to the government's debt rules in October. Ministers hope that billions in capital investment and a funding boost for the NHS will stave off disquiet over harsh cuts to day-to-day spending expected across many departments.
The Independent
2 days ago
- The Independent
Nintendo Switch 2 – live updates on where to buy as stock sells out
A day after launch, the Nintendo Switch 2 has little stock in the UK. Consoles began quietly landing at shops yesterday morning, and now it's a race against the clock to secure one. Argos, Amazon, and Currys have completely run dry, as has ShopTo. Not only is there no same-day stock, it looks like there's almost no stock at all. The good news is that Nintendo has finally dropped some stock, and Very has a Mario Kart World bundle. EE and O2 have stock, but you have to have an existing contract with them. However, we've seen a lot of surprise stock drops over this console launch. While there's precious little stock at the moment, it's worth checking back every half hour or so in case there's any movement. Where to buy the Nintendo Switch right now Nintendo Switch 2 specs The Switch 2 might look familiar, but there's a lot going on underneath. It's powered by a new custom Nvidia chip, so games don't just load faster, they look better and run more smoothly. You get 12GB of RAM (up from 4GB on the original Switch), and most of that goes straight into powering games, not just background stuff. The screen is still LCD, not OLED, but it's bigger at 7.9in and has 1080p resolution. It supports HDR and a 120Hz refresh rate. Colours pop more and motion looks buttery-smooth in handheld mode. There's also DLSS upscaling built in, so older games look better. Sadly, while it supports variable refresh rates, it doesn't work when docked – just in handheld mode. Nintendo Switch 2 price The Nintendo Switch 2 on its own costs £399.99, and the main bundle with Mario Kart World costs £429.99. Buying the bundle saves you £40 compared to picking up the game separately, so it's the better value if you're planning to grab it anyway. No big discounts yet – it's launch day, after all – but some retailers have larger, more expensive bundles. These include the new Switch 2 camera (£49, the Pro controller (£74.99, and the official carry case and screen protector (£20.99, as well as extra games and accessories. Nintendo Switch 2 launch games There's a stacked line-up of Switch 2 games for day one. Mario Kart World is obviously the big one, but you've also got upgraded versions of Breath of the Wild and Tears of the Kingdom, plus mammoth games like Cyberpunk 2077 Ultimate Edition and Hogwarts Legacy – two games that really test the console's muscle. Other launch day games include Hades 2, Split Fiction, Sonic X Shadow Generations, Street Fighter 6, Survival Kids and Suikoden I & II HD Remaster. You've also got Yakuza 0: Director's Cut, Kunitsu-Gami: Path of the Goddess, and Deltarune Chapters 1–4, plus more niche picks like Fantasy Life i and Bravely Default: Flying Fairy HD. Civilization VII and No Man's Sky are here too, and Nintendo Switch 2 Welcome Tour acts as a mini showcase for the new hardware. On top of that, loads of older Nintendo titles have been patched with free performance updates, and Wind Waker, F-Zero GX and Soul Calibur II are now available through the new Switch Online GameCube library. Here's our Nintendo Switch 2 review So, I've officially had 48 hours with the Nintendo Switch 2, and it's a definite step-up over the Nintendo Switch OLED. My colleague Jake Brigstock and I have been putting it through its paces. Here's our initial review – yes, you're getting two takes for the price of one. Nintendo Switch 2 review: What we like (and dislike) about the console After almost a decade's wait, the Nintendo Switch 2 is here Alex Lee6 June 2025 17:01 Here's where you can buy a Switch 2 right now You can still buy the Nintendo Switch 2 from a few places in the UK, but each option comes with a caveat. The My Nintendo Store has the console in stock now, though you'll need an active Switch Online membership to place an order. Delivery is fairly quick though, with consoles arriving in two to three days. Very also has a bundle available to buy, but delivery is on the slower side. Orders aren't expected to arrive until Friday, 13 June. EE has stock as well, but it's only available to pay-monthly customers and delivery takes between 1-3 working days. O2 is also selling the Switch 2 to existing customers, but shipping is particularly slow – some orders could take more than four weeks to arrive. Alex Lee6 June 2025 15:28 Nintendo just dropped stock I predicted it earlier and it's come to pass. Nintendo's just dropped some stock. You have to have a My Nintendo account to buy a console, but the stock is there. There's a standalone Nintendo Switch console and a Mario Kart World bundle. Alex Lee6 June 2025 12:59 Smyths Toys taking orders Smyths Toys sold out around midday yesterday, but they're taking orders once again. It won't be a fast delivery; the retailer says it expects stock between 10-16 June, and delivering your Switch 2 could take up to three working days after that. However, if you missed out on the console yesterday, this is a good bet. Buy now at Smyths Toys Alex Lee6 June 2025 11:57 Nintendo Switch 2 stock at O2 Huge thank you to reader Mark Brooker, who got in touch about some Nintendo Switch 2 stock at O2. It's unlike any of the stock we've seen so far. It's a Mario Kart World bundle and only for O2 customers. You have two options. You can either pay in full for £449.99 or spread the cost. If you spread the cost, it costs £110 up front, but you can pay as little as £9.44 a month at 0% APR. The catch? Delivery could take more than 4 weeks. Buy now at O2 Alex Lee6 June 2025 11:40 Stock just dropped at Very It's been quiet since 6am this morning, but Very just dropped stock. You can get a Nintendo Switch 2, Mario Kart World, and a Switch 2 Camera for £479. It will arrive on Friday 13 June. Buy now at Very Alex Lee6 June 2025 11:04 More detail on EE stock Right now, EE is the only place in the country you can buy a Switch 2. You have a few options: The first is the basic Mario Kart World bundle. You get a Nintendo Switch 2 console and, unsurprisingly, Mario Kart World. You also get a 12 month Nintendo Switch Online + Expansion Pack membership, so you can play online. This also gives you access to 170 old-school games from the NES, SNES, GameCube, Nintendo 64, Game Boy Advance and Sega Genesis. It costs £22 a month for £24 months, and you have to pay £20 upfront today. Buy now at EE The other option is more expensive, but you get a lot more. As well as the Nintendo Switch 2 console Mario Kart World, and Nintendo Switch Online + Expansion Pack membership, you get some hardware. You also get a Nintendo Switch camera for online gaming. That bundle costs £25 monthly for 24 months, and you have to pay £20 upfront. Buy now at EE Alex Lee6 June 2025 10:11 Who else might drop stock? It's hard to predict stock drops, but two big players have been noticeably quiet so far. We haven't seen any stock from John Lewis, despite rumours that the retailer might have a few consoles. It might be that their stock has been held back for today or the weekend to capitalise on the limited stock at other sellers. The other conspicuous absence is Nintendo itself. There was no stock on the My Nintendo store, so we might see some drops over the coming days. Alex Lee 6 June 2025 09:18 Nintendo Switch 2 back in stock at EE It looked like EE had sold out, but The Mario Kart World bundle is back. It's a £22 a month for 24 months plan. This might be your best chance for a Switch 2 this morning, but you can only buy it if you're an EE customer. Buy now at EE Alex Lee6 June 2025 08:43 Where to buy a Switch 2 right now Stock looks very depleted this morning. As of right now, you have two options, and neither is great. The Switch is technically still available at Argos, but I've only found it in one shop in the country. It's still worth checking if you live somewhere relatively remote, but it looks like there's no stock in big cities. Keep refreshing – you might have more luck over this morning Buy now at Argos Your other option is EE, which seems to have plenty of stock. the drawback here is that you need to be an EE customer. The Mario Kart World bundle is available on a £22 a month for 24 months plan, which works out at £526, much more expensive in the long run than the £429.99 launch price. You can't buy the deal if you're already on a 24 month plan with the network, either. Alex Lee6 June 2025 06:50
