D-Wave (QBTS, Financial) CEO Alan Baratz has clapped back at the recent criticism from Nvidia (NVDA, Financial) CEO Jensen Huang, who feels unsure about the near-term utility of quantum computing.
In a CNBC interview, Baratz mentioned that Nvidia's leader is “dead wrong” feeling that the quantum computing systems are already being deployed by companies such as Mastercard (MA) and NTT Docomo.
Baratz's comments were a direct response to Huang's Tuesday statement that it could potentially take 15 to 30 years for “very useful quantum computers” to emerge, citing the need for a major breakthrough, along with a dramatic bump in quantum processing units. Huang also asserted that conventional chips remain key alongside quantum systems. Shares of D-Wave, Rigetti Computing (RGTI, Financial), and Quantum Computing Inc. (QUBT, Financial) dropped 36.13%, 45.41%, and 43.34%, respectively, in Wednesday's trading following Huang's remarks. Despite the drops, Baratz stressed that quantum computing is delivering tangible benefits, challenging the deeper timeline proposed by Nvidia's chief.
