Quantum Computing ETFs Rally Amid Nvidia, Microsoft Hype
Quantum computing shares continued their rollercoaster ride on Wednesday after two tech heavyweights pledged allegiance to the space.
IONQ Inc., Rigetti Computing Inc. and D-Wave Quantum Inc. Shares were trading between 22% and 34% higher on Wednesday Defiance Quantum ETF (QTUM) Nvidia Corp. rose 2.5 percent after announcing at a conference in March that it would focus on the industry.
To celebrate and explore the incredible advances in quantum computing, Nvidia will host a “Quantum Day” at the Nvidia GTC conference in March, the company said. Blog post.
At the event, NVIDIA CEO Jensen Huang will share with industry leaders, including those from IonQ, Rigetti and D-Wave.
Last week, Quantum Computing shares were a share. Cut in half Within a day of Huang’s comments suggesting that useful quantum computers may not be available for at least a decade and a half.
“If you say 15 years for very useful quantum computers, that’s probably on the early side. If you say 30, it’s probably too late. If they pick 20, I think we fully believe it,” he said at Nvidia’s analyst/investor day on January 7.
Days later, Mark Zuckerberg, CEO of MetaPlatforms Inc., commented on the “Joe Rogan Experience” podcast that quantum computing is “still a long way from being a useful example.”
While those longer timelines may still be correct, at least today, investors are encouraged that Nvidia sees plenty of potential in the quantum computing industry at GTC, the company’s AI-focused conference.
Also, different Blog post He has provided fodder for the bulls by highlighting the vast potential of quantum computing from Microsoft Corporation.
“We are at the dawn of the age of reliable quantum computing. And we are on the cusp of seeing quantum computers solve meaningful problems and capture new business value,” he wrote.
The suggestion that quantum computers could be ready for prime time was music to the ears of investors in Quantum Stocks and the QTUM fund.
Investors have put $181 million into QTUM since the beginning of the year, and $575 million have flowed into the fund in the past three months.
The ETF currently has $924 million in assets under management.