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It’s a complicated time for Nvidia (NVDA) as the company moves on from the recent GTC (GPU Technology Conference) week. Shares surged yesterday as a rally swept over the market, but the momentum seems to have subsided since then.
The past six months have been highly volatile, even as the artificial intelligence (AI) market has remained strong. When Chinese startup DeepSeek released an AI model that ran on less advanced chips, it triggered a selloff, and Nvidia is still struggling to recover.
As NVDA stock has trended downward, speculation has risen as to whether or not Nvidia’s time as the market’s undisputed AI leader is over. Its volatile performance is in stark contrast to the seemingly unshakable growth investors remember from 2023 and much of 2004.
One quantum computing leader recently weighed in on that topic, offering an expected perspective on the future of both Nvidia and the broader tech market.
Rival CEO believes Nvidia will be saved but not by AI
Last week, Nvidia unveiled multiple new AI chip innovations, including the Blackwell Ultra and the newest version of the Rubin GPU (graphics processing unit) family. While they caught the attention of many tech enthusiasts, one CEO believes that another area of technology offers Nvidia its best chance at growth: quantum computing.
As TheStreet reports, “quantum computing is a highly advanced form of computing in which tasks are performed at a much faster rate. A standard computer typically works one step at a time, while a quantum system can perform multiple tasks at once.”
Related: 5 quantum computing stocks investors are targeting in 2025
One quantum expert recently weighed in on Huang and Nvidia. Peter Chapman is the chairman and former CEO of IonQ (IONQ) , a company currently making waves in the quantum space. He recently joined Huang on stage at Nvidia Quantum Day 2025 to discuss the future of the industry and then gave an interview in which he revealed something surprising.
Making it clear that he doesn’t believe it makes sense to bet against Nvidia, Chapman stated, “I wouldn't be shorting Jensen's stock because of quantum.” This comes just a few months after Huang predicted that quantum computing likely wouldn’t have useful applications for 15-20 years, sending the sector into a free fall.
At Quantum Day 2025, Huang walked back these statements, admitting that he had been wrong and expressing surprise at the power that his words had on quantum computing stocks. After the event, Chapman described it as an attempt for Huang to backtrack his comments, adding that he hoped the industry would regard it as such.