5 Quantum Computing Stocks Challenging Jensen Huang’s Stance

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1. D-Wave Quantum (NYSE:QBTS)

D-Wave Quantum’s stock is up over 24% at market open. The news of its partnership with Carahsoft Technology is sending the stock higher. The partnership involves accelerating the adoption of quantum computers and their solutions at both the government and public sector levels.

QBTS CEO Alan Baratz has responded to Jensen Huang’s comments by saying that quantum computing applications are real today, and not over a decade away:

We have customers that are using our quantum computers today in support of their business operations, and we have demonstrated the ability to solve important problems in the area of material simulation on our quantum computers today in minutes.

He is not wrong. What would take today’s normal computers (including ones powered by Nvidia!) millions of years to compute is being done today in minutes thanks to quantum computing. The technology has evolved and the stock price is showing the optimism people share with the QBTS CEO.

D-Wave Quantum is not on our latest list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held QBTS at the end of the third quarter which was 8 in the previous quarter. While we acknowledge the potential of QBTS as a leading investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as QBTS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

Disclosure: None. This article was originally published at Insider Monkey.

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