TQI QuickBits: NVIDIA Disses Quantum. Saudi Arabia Focuses Quantum Vision. And More News In Quantum!

Easy come, easy go, I guess.

The big news in the quantum industry was the rapid deflation of prices of almost all publicly traded quantum stocks. The puncturing of that bubble was initiated by remarks made by NVIDIA CEO Jensen Huang.

Essentially, Huang said that "very useful" quantum computers were about 20 years away. To be honest, he also made some dismissive and -- to me -- alarmingly uninformed comments about quantum computers. It's not fair to assess an off-hand comment at a press conference and we all have opinions on timelines for quantum computing maturity. We all certainly have takes on whether some of these quantum computing companies deserve the recent high valuations. (Huang was not discussing, or making a comment on those valuations, it's fair to point out.)

Because some of you have reached out with these concerns, though, I did reach out to NVIDIA for clarification and was told none would be forthcoming.

I have spent most of the summer and fall of 2024 entering press releases detailing NVIDIA's partnerships with quantum startups -- some of which bore the brunt of Huang's comments. True partnerships are built on mutual benefit and knitted together with a shared vision of the future. NVIDIA, then, seems off historical message with this statement.

There is a more constructive way to respond to the situation, as I see it. Prove him wrong.

And just a reminder: Sign up for the Microsoft and Atom Computing webinar "Enabling The Next Generation of Quantum Applications With Reliable Quantum Computing." It's set for Jan. 16 at 11 a.m. EST. Register Here.

Quantum Events

Jan. 13-15, -- Quantum.Tech Qatar taking place 14 & 15 January 2025 (with a Cryptography and AI focus day on January 13).

Jan. 16 -- Enabling The Next Generation of Quantum Applications With Quantum Computing. Joint Microsoft-Atom Computing webinar.

January 22 -- Quantum Information Science Career Fair. Celebrating the International Year of Quantum 2025. Virtual event 11 a.m. to 6 p.m.

Feb 18 -- Opportunities Across The Quantum Computing Stack at Yale University, 9 am. to 5 p.m.

Feb. 25-27 -- The Quantum Innovation Summit returns for its second edition from February 25-27 at The H Hotel, with additional virtual participation via the QIS Event APP.

March 25-27 -- Quantum Australia Conference will be held in Brisbane.?The conference will explore the theme The Translation of Quantum – how current and future industries can leverage the power of quantum.

March 31-April 1 -- D-Wave's annual quantum computing conference, Qubits, takes place at the Phoenician Resort in Scottsdale, Arizona.

April 2-4 -- NQCC’s Scalability in Quantum Computing Conference that we are running rom 2nd-4th April 2025 in Oxford, UK. Early bird registration closes on 30th November 2024.

May 20-22, 2025 – Join us for the 3rd annual IQT Nordics, May 20-22, 2025 in Gothenburg, Sweden, and contribute to scaling quantum computers towards real world applications.

Do You Need Quantum on a Daily Basis?

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Quotable Quantum

The CEO of NVIDIA sent investors in a panic with a few words about his predictions on quantum computing's timeline to maturity. It's close to what he's said before, but the market reacted strongly and many of the publicly traded quantum companies lost a chunk of their gains from late last year. Read our take below.

“If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it’s probably on the late side. If you picked 20, I think a whole bunch of us would believe it.” -- Jensen Huang, NVIDIA CEO

QuickBits Spotlight

NVIDIA CEO’s Predictions Rain on Quantum Stock Parade

Financial media are blaming NVIDIA CEO Jensen Huang’s predictions about quantum computing’s eventual maturity for a pullback among many quantum stocks. In a question-and-answer session with analysts, Huang said that “very useful” quantum computing was a few decades away.

What Do I Need To Know?

• NVIDIA CEO Jensen Huang's prediction that "very useful" quantum computers are likely 20 years away has sparked a sharp drop in quantum computing stocks, with companies like IonQ and Rigetti experiencing significant after-hours losses.
• Based on the rest of the very short quote, Huang seemed to be calling out superconducting qubits.
• Huang's remarks align with NVIDIA's focus on a hybrid quantum-classical era, with an eye toward enabling systems that help quantum and classical systems address computational challenges.
• Depending on the interpretation, the prediction is not far off existing quantum industry roadmaps, which foresee milestones such as practical quantum advantage within the next decade and fault-tolerant quantum supremacy in 10–15 years.
• Huang has made this exact prediction in past, including one made in 2022.
• NVIDIA has positioned itself as a player in the hybrid quantum era, partnering with companies like Google Quantum AI and IonQ to integrate quantum accelerators with its AI and supercomputing platforms.
• Huang's comments reaffirm NVIDIA's strategy to support the gradual evolution of quantum technology, although critics charged this was self-serving because of the potential competition between quantum and NVIDIA's main product line.

Read More

QuickBits Capital Markets

Quantum Machines Reportedly Eyeing $100 Million in Next Funding Round

Israeli quantum computing startup Quantum Machines is said to be raising $100 million in what is expected to be the largest funding round in Israel’s quantum technology sector to date, according to Israeli tech media outlet, Calcalist. The funding, sought at a significantly higher valuation than previous rounds, is a sign of both the growing global competition in quantum computing and Israel’s ambitions in the sector.

Read More

More Quickbits

Saudi Arabia Lays Out Its Strategic Vision For The Quantum Era

Riverlane Reports Decoder Tech Sets New Standard in Quantum Error Correction

Chicago’s South Side Quantum Hub Could Mirror Silicon Valley’s Rise, Says Project Leader

South Korea to Form Quantum Strategy Committee

Dan Hart Joins Quantum Coast Capital as Senior Advisor

Jellyfish Protein Shines Bright in Quantum Sensor for Biomedical Applications

Cleveland Clinic Combines Quantum and AI for Responsible Antibiotic Prescription

This is just the start of research news The Quantum Insider is covering. Visit our site for more quantum research news... And subscribe to TQI's official weekly newsletter for a wrap up of all the news in quantum! ?Subscribe to The Daily Qubit for daily quantum tech research and news delivered daily to your inbox.

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