D-Wave Quantum Inc. (QBTS) stock experienced a 6.56% plunge in its share price during Thursday's intraday trading session, following comments from Nvidia CEO Jensen Huang questioning the readiness and commercial availability of quantum computing technology.
In response, D-Wave Quantum CEO Dr. Alan Baratz strongly refuted Huang's remarks, stating that D-Wave's annealing quantum computing solutions are available today and actively solving real-world problems for businesses, researchers, and governments. Baratz emphasized that while Huang's comments may hold true for gate-model quantum computers, they are "100% off base" for D-Wave's annealing quantum computing approach.
Baratz highlighted that D-Wave has been able to solve complex optimization problems, such as materials simulation, in minutes on their quantum computers, which would take millions of years on the fastest supercomputers. He stressed that D-Wave's quantum technologies are already being used by over 100 organizations across various industries for tasks like workforce scheduling, logistics routing, and resource optimization.
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