Investing.com -- During NVIDIA Corporation’s (NASDAQ:NVDA) GTC 2025 conference on Thursday, CEO Jensen Huang hosted two panels of industry leaders in quantum computing. This comes after Huang’s comments in January in which he shared a belief that “useful” quantum computing was 15-30 years away, which sent publicly-traded quantum stocks crashing.
Quantum computers utilize qubits that exist in probabilistic states, unlike classical bits, used by traditional computers, which are definitively 0 or 1. These quantum systems are expected to excel at complex problems with numerous potential solutions, including cryptography, logistics optimization, and simulating molecular interactions or weather patterns.
To introduce the panel, Huang attempted to retract his previous statements, laughing it off by saying, “How could a quantum computer company be public?” He then challenged the Quantum CEOs on the panel to convince him otherwise, adding, “This is the first event in history where a company CEO invites all of the guests to explain why he was wrong.”
The panels included representatives from 12 different quantum companies, including IonQ and D-Wave Quantum Inc. The panelists described their companies, their different quantum strategies and usages, and the applications of quantum computing in the present and future. Some panelists emphasized that quantum computing was already creating applications in the fields of drug discovery, materials development, and financial forecasting. Others, including Huang, pointed to the future of quantum: a synergistic relationship with classical computing systems.
Instead of viewing quantum computers in the traditional sense of the word “computer,” Loïc Henriet, CEO of Pasqal, argued that quantum computers function more as accelerators to traditional computers. IonQ’s CEO Peter Chapman reiterated this idea, stating, “It’s going to be a classical system sitting next to a quantum computer, going back and forth.”
Huang continued backtracking on his January comments, admitting that, “Quantum computing is scaling a lot faster than classical computing did.” He closed the panels on a positive note, emphasizing that if being wrong in his assumptions brought light to the advancements and potential of quantum computing, then “mission accomplished.”
Despite the positive tone of the panels, most quantum computing stocks that participated in the conference and are publicly traded fell significantly after Huang’s initial comments and skepticism. At closing time, D Wave Quantum Inc (NYSE:QBTS) was down 18%, Quantum Computing Inc (NASDAQ:QUBT) was down 11.7%, IONQ Inc (NYSE:IONQ) was down 9.3%, and Rigetti Computing Inc (NASDAQ:RGTI) was down 9.2%.
Additionally, in conjunction with NVIDIA’s emphasis on quantum computing today, Huang announced that the company is planning to open a quantum computing research lab in Boston, allowing Harvard and MIT scientists to collaborate. The lab will be called Nvidia Accelerated Quantum Research Center, or NVAQC for short, and will begin operation later this year.