Recently, D-Wave Quantum’s (QBTS) CEO said that Nvidia (NVDA) CEO Jensen Huang was ‘dead wrong.’ D-Wave’s CEO disagreed that quantum computing would take many years to realize meaningful revenue.
On Monday, QBTS stock crashed by 33.62 percent. The firm planned a stock sale of up to $150 billion. Short sellers, who hold a 17.86% short interest in the stock, will profit further as the stock falls. QBTS stock traded as low as $0.68 in the last year and closed at $3.83. The decline sent Rigetti Computing (RGTI) down by 32.25%.
Nvidia (NVDA) traded below $130 yesterday morning. By the end of the day, it closed down by 1.97%, to $133.23. The media reused unproven news that the firm would delay Blackwell AI server chips. The report claimed that the chips have connection issues and overheating. However, the chances are high that Nvidia has a specific server environment that Blackwell needs. Without meeting those specifications, heating issues are possible.
Nvidia’s small drop pulled Palantir (PLTR) shares lower. The stock is now at prices not seen since last November.
Risks
The government’s ‘DOGE’ – an effort to cut spending and costs – is an existential threat to Palantir. The software firm requires higher government spending on military and AI solutions. Cost cuts would hurt Palantir’s revenue potential.
