Key Points
NVDA CEO Jensen Huang said the quantum computing industry is now at an inflection point
According to analysts at Bank of America, quantum computing could be “humanity’s biggest breakthrough since the discovery of fire.”
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Shares of Arqit Quantum (NASDAQ: ARQQ) are up another 8%, or $3.45, so far today.
Since April, the quantum computing stock has exploded from an April low of about $11 to a recent high of $45.62, and could easily trek higher – especially with Nvidia CEO’s bullish comments.
In fact, in early June, NVDA CEO Jensen Huang said the industry is now at an inflection point. He added that the world is “within reach” of being able to use quantum computers. This was after he said the technology was still 20 years away back in January.
Even better, according to LiveScience.com, “In a world first, scientists have demonstrated an enigmatic phenomenon in quantum computing that could pave the way for fault-tolerant machines that are far more powerful than any supercomputer.”
Quantum Computing Could Be Humanity’s Biggest Breakthrough Since Fire
And, according to analysts at Bank of America, quantum computing could be “humanity’s biggest breakthrough since the discovery of fire”.
“A technology that can perform endless complex calculations in zero time, warp-speeding human knowledge and development,” they added. “Theoretically, there’s no calculation a quantum computer can’t do, BofA said, adding that it could “change everything,” by creating new drugs and materials, increasing longevity, and enhancing encryption and logistics.
In short, it’s a massive game-changer for us all.
Such technology could even be used to discover new drugs, quicker than even imagined. For example, according to ZDNet.com, the discovery of new drugs relies on molecular simulation, which is complex and time-consuming with all of the calculations needed.
“It’s expected that modeling a molecule with only 70 atoms would take a classical computer up to 13 billion years,” they added.
Meanwhile, a quantum computer may be able to figure it all out in minutes.
Quantum computing may even be able to help advance artificial intelligence, machine learning, financial modeling, cybersecurity, batteries, and even help with green energy.
Governments all over the world are heavily investing in quantum computing.
In fact, according to the State of Quantum 2024, more than 30 governments have already made commitments of more than $40 billion to quantum technologies over the next 10 years. Even better, some analysts say the quantum computing market could eventually be worth about $850 billion by 2040, noted Forbes.
It’s just part of the reason quantum computing stocks, like ARQQ, are just starting to take off.
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