Quantum computing stocks climb before Nvidia's first 'Quantum Day'

Quantum Computing stock was up by around 15% during afternoon trading on Monday, while D-Wave shares were up by almost 8%.

Executives from quantum companies, including D-Wave, are expected to join Nvidia chief executive Jensen Huang at the chipmaker’s first “Quantum Day” on Thursday during its annual developers conference known as the GTC.

Meanwhile, shares of IonQ (IONQ) and Rigetti Computing (RGTI), both of which are also expected to join Huang at the GTC, were down by more than 2% during afternoon trading.

The quantum event will bring together experts and leaders in the field to discuss “what businesses should expect from quantum computing in the coming decades — mapping the path toward useful quantum applications,” Nvidia said.

Huang will also make announcements about the chipmaker’s quantum computing advances that are “shortening the timeline to useful applications,” according to the company.

Earlier this year, Huang said that useful quantum computers are still decades away during Nvidia’s financial analyst day at the Consumer Electronics Show — tanking quantum computing stocks.

“If you said 15 years for very useful quantum computers, that would probably be on the early side,” Huang said at CES. “If you said 30, it’s probably on the late side. But if you picked 20, I think a whole bunch of us would believe it.”

Huang added that he expects Nvidia to play “a significant part” in the development of quantum computers, and push it toward getting “there as fast as possible.”

Google $GOOGL, Microsoft $MSFT, and Amazon $AMZN have all recently unveiled quantum computing chips that they say show promise for the advent of large-scale quantum computing.