Quantum computing stocks are soaring this week, and D-Wave Quantum (QBTS 4.25%) is one of the biggest winners. As of mid-morning Friday, D-Wave shares had rocketed about 54% since last week's close, according to data provided by S&P Global Market Intelligence.
Ironically, the catalyst was artificial intelligence (AI) leader Nvidia, to which D-Wave's CEO Alan Baratz issued a warning earlier this week.
Image source: The Motley Fool.
D-Wave CEO challenges Nvidia
In an announcement that fueled the surge in quantum computing stocks, Nvidia said it is launching a new open-source quantum AI model called Ising. It was created to accelerate the rapidly evolving computing technology.
Nvidia CEO Jensen Huang stated, "AI is essential to making quantum computing practical. With Ising, AI becomes the control plane -- the operating system of quantum machines -- transforming fragile qubits to scalable and reliable quantum-GPU systems."
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Ironically, D-Wave CEO Alan Baratz had just challenged Nvidia's AI dominance with its GPU chips. At the Semafor World Economy summit this week, Baratz said, "If I was Nvidia, I'd be shaking in my boots," as he believes quantum is positioned to become the new generation of computing power that could eventually surpass conventional AI accelerators.
With Ising, Nvidia is showing it will remain relevant amid the evolution of the transformative technology. This week's stock move shows there will likely be more than one winner in the quantum space.
