Quantum computing stocks saw a significant uptick during pre-market trading on Wednesday, driven by Microsoft Corp. MSFT entering the quantum computing conversation with plans to make its business clients “quantum-ready” by 2025.
What Happened: According to Benzinga Pro, Quantum Computing Inc. QUBT surged by 12.38%, Rigetti Computing Inc. RGTI increased by 3.02%, and D-Wave Quantum Inc. QBTS climbed by 12.05%.
Microsoft emphasized the importance of preparing for the technological advancements expected in the coming year. It stated in a blog post, "We are at the advent of the reliable quantum computing era. And we are right on the cusp of seeing quantum computers solve meaningful problems and capture new business value."
The company anticipates that the pace of quantum research and development will accelerate, urging business leaders to act promptly.
Despite the optimism, skepticism remains. Nvidia Corp. NVDA CEO Jensen Huang, during a recent CES technology trade show, predicted that practical quantum computing applications might still be 15 years away. Leading scientists echo this sentiment, suggesting a longer timeline for economically useful quantum computers.
Why It Matters: The recent surge in quantum computing stocks comes on the heels of a downturn earlier this week. On Monday, stocks like Quantum Computing and Rigetti Computing experienced declines following comments from Meta CEO Mark Zuckerberg. Both leaders expressed caution regarding the timeline for quantum computing advancements, which led to a drop in stock prices.
Despite Huang’s prediction of a 15 to 30-year timeline for practical quantum computing, Nvidia is actively investing in its quantum computing capabilities, hiring for roles that will support this future technology. This strategic move indicates a long-term commitment to integrating quantum and classical computing systems.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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