D-Wave Quantum CEO Alan Baratz has openly challenged Nvidia's CEO Jensen Huang's recent statements regarding the future of quantum computing. Huang suggested that it will take 15 to 30 years for quantum computers to become commercially viable. However, Baratz asserts that D-Wave's quantum systems are already in commercial use, with significant clients like Mastercard and Japan's NTT Docomo utilizing them in production. D-Wave's systems reportedly solve problems beyond the capabilities of the fastest Nvidia-equipped systems, marking a significant milestone in the industry.
Baratz criticized Huang's comments for their impact on the stock market, which saw D-Wave's shares plummet by 36% following Huang's remarks. He emphasized that D-Wave is operational today, contrasting Huang's projection about the distant viability of quantum computing. The debate between these two industry leaders highlights the divergent perspectives on the current state and future of quantum technology.
Despite the recent drop, D-Wave shares have experienced a remarkable increase of about 600% over the past year, giving the company a market cap of $1.6 billion. This surge was partly fueled by renewed investor interest in December, following Google's announcement of a breakthrough in its quantum research. In contrast, Nvidia's market cap has grown by 168% over the same period, reaching an impressive $3.4 trillion.
Huang acknowledged the need for conventional chips alongside quantum computing chips, noting that future computers would require a million times the current number of qubits. Meanwhile, Baratz extends an olive branch, offering to meet with Huang to discuss the advancements and capabilities of D-Wave's technology.
"I'll be happy to meet with Jensen any time, any place, to help fill in these gaps for him," remarked Baratz.
"The reason he's wrong is that we at D-Wave are commercial today," Baratz added.
D-Wave has been at the forefront of quantum computing developments and benefitted from increased investor attention in recent months. The company's shares surged 178% in December after a 185% rise the previous month. However, sales in the latest quarter fell by 27%, dropping to $1.9 million from $2.6 million a year earlier.