Quantum meme stock D-Wave CEO criticizes Jensen Huang: He is completely wrong, we have a large number of paying customers
D-Wave, a quantum computing company, CEO Alan Baratz criticized NVIDIA CEO Jensen Huang, stating that his views on quantum computing are "completely wrong," and emphasized that D-Wave's quantum computers have been commercialized, with clients including Mastercard and NTT Docomo. However, D-Wave's revenue fell to $1.9 million in the third quarter of 2024, a decrease of 27% compared to the same period last year. Following Huang's remarks, D-Wave's stock price plummeted over 36%
Local time this Wednesday, D-Wave Quantum's CEO Alan Baratz stated that Jensen Huang's views on quantum computing are "completely wrong," and D-Wave's quantum computers are already commercialized today. Baratz also added that D-Wave's systems can solve problems that NVIDIA GPUs cannot.
Baratz mentioned that a method called gate-based quantum computing may take decades to realize, but D-Wave uses an annealing approach, which can be applied right now. Baratz told CNBC reporters:
“The reason he is wrong is that D-Wave's quantum computers are already commercialized today... Companies including Mastercard and Japan's NTT Docomo are using our quantum computers to provide real benefits for their business operations.”
Baratz emphasized:
“Not in 30 years, not in 20 years, and not in 15 years, but today, right now!”
“I am always willing to meet with Jensen Huang anywhere, anytime, to help him bridge these cognitive gaps.”
However, it should be noted that D-Wave's current revenue is actually very low. In the third quarter of 2024, D-Wave's sales fell by 27% from $2.6 million in the same period last year to only $1.9 million.
Previously, at the CES conference, Jensen Huang stated that quantum computing would not become mainstream technology for at least the next fifteen years; NVIDIA can manufacture traditional chips that work with quantum computing chips, but the number of quantum processing units required for such computers will be 1 million times that of the current ones.
As a result, quantum computing-related stocks in the U.S. plummeted, with D-Wave's stock price dropping over 36% on Wednesday.
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