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Quantum stocks rose in premarket trading on Wednesday after Nvidia (NASDAQ:NVDA) CEO Jensen Huang made some bullish comments on the industry and said it is now at an “inflection point.”
“Quantum computing is reaching an inflection point,” Huang said during the GTC Paris event, while mentioning Nvidia’s quantum computing service, Cuda Q.
Huang added that the world is “within reach” of being able to use quantum computers, which use qubits as their unit of information, to be applied in areas and “solve some interesting problems in the coming years.”
IonQ shares rose 3.6% following Huang’s comments, while Quantum Computing (NASDAQ:QUBT) jumped 8.3%. D-Wave Quantum (NYSE:QBTS) rose 2.7%, Arqit Quantum (NASDAQ:ARQQ) rose 2.7% and Rigetti Computing (NASDAQ:RGTI) rose 4.5%.
Huang’s comments about quantum computing have become more bullish in nature in recent months. In January, he caused stocks in the industry to slump after he said use cases were around 20 years away. However, he issued a mea culpa in March at the company’s GTC event, which included its first ever quantum day.
Nvidia announced earlier this week that it had teamed up with IonQ, Amazon Web Services and AstraZeneca to develop and show a quantum-accelerated computational chemistry workflow.
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