Quantum stocks surge as Nvidia CEO says technology reaching 'inflection point'
Quantum Computing (QUBT) rose more than 32% Wednesday morning. Rigetti Computing (RGTI) jumped over 17%, and IonQ (IONQ) climbed 7%. The companies make quantum computing hardware and software. By comparison, the S&P 500 (^GSPC) was trading flat.
Huang told a crowd Wednesday that "we are within reach" of using quantum computers for "areas that can solve some interesting problems in the coming years."
"Quantum computing is reaching an inflection point," he said.
Investors perceived the comments as bullish on the timeline compared to the tech CEO's earlier remarks about the technology. Huang told Wall Street analysts in January that "very useful quantum computers" were likely two decades away, sending quantum stocks spiraling. The Nvidia executive later walked back those comments.
Huang's commentary comes a day after IBM (IBM) said it is building the world's first large-scale quantum computer capable of operating without errors, which is set to launch by 2029.
Currently, quantum computers are plagued by errors. Both AI and traditional computers are "classical" computers that rely on linear algebra, whereas quantum computers rely on quantum mechanics and advanced mathematics, allowing for far more processing capabilities and making them more useful for solving certain problems in fields such as cybersecurity, cryptography, and chemistry.
But the computers are fragile and prone to producing errors, which has set back the industry from introducing useful quantum computers. IBM's announcement marked a "significant" step toward that goal, analysts told Yahoo Finance.
Big Tech companies such as Google (GOOG), Amazon (AMZN), and Microsoft (MSFT) have also been progressing in their own quantum efforts. Amazon and Microsoft announced two quantum chips in February. Google released a quantum computing chip called Willow in December, saying the technology "paves the way to a useful, large-scale quantum computer."
AI chipmaker Nvidia has also looked to get a slice of the burgeoning market. Nvidia hosted its first "Quantum Day" in March 2025, shortly after announcing that it would build a quantum research center in Boston.
Laura Bratton is a reporter for Yahoo Finance. Follow her on Bluesky @laurabratton.bsky.social. Email her at laura.bratton@yahooinc.com.
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