D-Wave Quantum Inc. (QBTS) stock surged 5.25% in after-hours trading on Wednesday, rebounding from a 40% drop during the regular session.
The quantum computing company's stock had plummeted earlier in the day after Nvidia CEO Jensen Huang said "very useful" quantum computers are likely 15-30 years away. Huang's comments raised doubts about the near-term prospects of quantum computing and led to a selloff in QBTS and other quantum computing stocks like Quantum Computing Inc. (QUBT), Rigetti Computing (RGTI), and IONQ Inc. (IONQ).
However, D-Wave CEO Alan Baratz provided a contrasting view, stating in a CNBC interview that quantum computing is "far ahead" of traditional computing for simulations. Baratz's comments appear to have fueled the after-hours rebound in QBTS shares, as investors reassessed the company's potential amidst the conflicting outlooks from tech leaders.
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