Quantum Computing, AI Stocks Rise as Nvidia Kicks Off Annual Conference

Shares of quantum computing and artificial intelligence companies climbed on Monday as investors anticipated major announcements from Nvidia at its annual conference.

The five-day GTC AI conference, already underway, is dedicating an entire day to quantum computing. Executives from key firms, including D-Wave Quantum and Rigetti Computing, are set to participate.

Quantum computing stocks saw significant gains, with D-Wave Quantum rising 9.4%. Quantum Corp surged 23.1%, while Quantum Computing increased 15.5%.

AI-related stocks also experienced gains in volatile trading. SES AI soared 30%, and Dell Technologies rose 3%.

Investors are closely watching Nvidia CEO Jensen Huang’s keynote on Tuesday for updates on AI and chip developments. The sector has faced challenges due to competition from Chinese AI products and concerns over US tariffs.

"If tomorrow's presentation is broadly positive, I don't think it would take an awful lot to see some big upward moves in anything related to AI or quantum computing from current levels," said David Morrison, senior analyst at Trade Nation.

Many AI and quantum computing stocks have been under pressure, and analysts suggest a strong catalyst could drive renewed investor interest.

Huang’s previous comments in January, stating that quantum computing was still decades away from practical use, led to a sharp selloff in related stocks. However, the renewed focus on the technology at the conference marks a shift in tone.

"They call this the 'Woodstock' of AI," said Ken Mahoney, CEO of Mahoney Asset Management. "If Huang says something a little more encouraging, that could add some boost for these stocks."

Nvidia is expected to unveil details of a new chip system, discuss plans in robotics, and provide updates on its Blackwell Ultra chip.

Despite early gains, trading remained volatile. Rigetti Computing reversed its premarket rise, while Nvidia also lost momentum, falling 1.8%. The company’s stock has dropped 11% this year after a 171% surge in 2024.

"To get the AI space excited again, they have to go a little off script from what we're expecting," Mahoney said.

Quantum computing and AI stocks rose ahead of Nvidia’s GTC AI conference.
D-Wave Quantum, Quantum Corp, and Quantum Computing saw notable gains.
SES AI and Dell Technologies also climbed in choppy trading.

Source: REUTERS