NVIDIA (NVDA, Financial) has announced its inaugural Quantum Day during the GTC conference scheduled from March 17 to 21. The company's CEO, Jensen Huang, will address numerous topics related to quantum computing, including current capabilities and future developments. The discussions will also cover the latest advancements in quantum computing and progress in accelerating useful applications.
Representatives from leading quantum computing companies such as D-Wave Quantum (QBTS), IonQ (IONQ), and Rigetti Computing (RGTI) will attend the event. Ahead of the conference, quantum computing stocks have shown significant pre-market gains. Rigetti Computing saw an increase of over 13%, D-Wave Quantum rose more than 25%, Quantum Computing (QUBT) advanced by over 17%, Arqit Quantum (ARQQ) surged more than 20%, and IonQ was up by over 10%.
Investment firm B. Riley Securities maintained a "buy" rating on Rigetti Computing and D-Wave Quantum, raising their price targets to $8.50 and $9.00, respectively. The firm cited technological advancements and growing commercial potential as motivating factors. Analyst Craig Ellis highlighted challenges in scalability and profitability timelines but emphasized strong long-term growth prospects driven by advancements in quantum systems, expanding commercial applications, and increasing government interest.
It's noteworthy that Jensen Huang mentioned that truly useful quantum computers may still be decades away, with estimations ranging from 20 to 30 years. Following these comments, U.S. quantum computing stocks experienced a decline on January 8.
