Jensen Huang revises remarks that caused quantum computing stocks to decline significantly

Huang revises potential on quantum computers, citing complexity. Stocks rose slightly.

: Nvidia CEO Jensen Huang revised his previous statement about the timeline for practical quantum computers, initially suggesting they were decades away. His remarks previously caused a decline in quantum computing stocks, leading him to offer a more optimistic view on the potential of quantum technology despite its complexities. Huang’s comments came during Nvidia's 'Quantum Day,' reflecting Nvidia’s interest in quantum computing, especially since its chips are used in simulations for designing these computers. He advised caution in making bold predictions, drawing from past experiences with accelerated computing forecasts.

Nvidia CEO Jensen Huang recently found himself in a precarious position after remarks made about quantum computing timelines impacted stock market values for related companies. The decline prompted a re-examination of his understanding and public statements. Originally, Huang postulated that the world would not see commercially viable quantum computers for another 15 to 30 years, potentially even reaching the 20-year mark optimistically. Following these claims, quantum stocks witnessed a downturn, making it clear that the market took his words seriously.

In response to the downturn and as part of Nvidia's 'Quantum Day' event, Huang addressed his previous comments and sought to clarify his position. He recognized the potential for quantum computing to significantly alter various fields and admited to underestimating the technology's future. Despite this, he emphasized the intrinsic complexity of quantum computing that makes it a challenging but promising area. Highlighting Nvidia's pivotal role in this burgeoning field, he underscored that Nvidia is deeply invested in quantum computing, with their chips playing a crucial role in simulations needed to design and construct these advanced machines.

Furthermore, Huang mentioned 'pre-revenue' quantum companies paralleling Nvidia's own history, acknowledging how long it took for Nvidia to develop its then-niche hardware and software business. This analogy served as a reminder of the potential growth journey and the maturation process necessary for quantum companies. He humorously pointed out that the surprise wasn’t lost on him regarding these companies being publicly traded so soon.

Huang isn't the only skeptic-turned-advocate. In a 2023 Nature article, it was noted that existing quantum computers paled in comparison to traditional architectures, reaffirming quantum supremacy as a distant ambition. Yet, the focus remains on potential breakthroughs rather than current capabilities, according to industry leaders in attendance at Nvidia's annual GTC Conference, which featured twelve companies from the quantum sector further emphasizing collaboration and growth.

Lastly, by reiterating the lessons learned from past experiences, Huang indicated a shift in perspective. He alluded to previously inaccurate predictions concerning accelerated computing power overtaking CPUs, suggesting a more tempered approach in the future regarding technological forecasts, particularly in the highly speculative and dynamic landscape of quantum technology.

Sources: TechSpot, Nature, Nvidia

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