Quantum Computing Stocks Drop After Nvidia CEO’s Dismal Outlook
/in Tech/tarafından ayaksızQuantum computing stocks experienced a significant decline on Wednesday, halting a year-long rally, after Nvidia CEO Jensen Huang predicted that practical quantum computers are still two decades away. This stark timeline casts doubt on the future of the sector, which had seen optimism due to early-stage breakthroughs but is still far from achieving widespread commercial success.
Huang suggested that while the technology shows potential, “very useful quantum computers” are likely 15 to 30 years away, with 20 years being the most plausible estimate. This forecast contrasts with the rapid growth of the quantum computing industry in recent years, driven by high-profile developments like Google’s December breakthrough in the field.
Stocks of companies like Rigetti Computing, D-Wave Quantum, Quantum Computing, and IonQ plunged by more than 40%, collectively losing over $8 billion in market value. The decline reflects the industry’s current struggle with niche applications and the massive investment needed for future progress. Despite the steep drop, Ivana Delevska, chief investment officer of Spear Invest, which holds shares in Rigetti and IonQ, stated that the 15 to 20-year timeline seems realistic, mirroring the trajectory Nvidia followed in developing accelerated computing.
Despite the long road ahead, quantum computing remains a key area for national security, with governments counting on its potential for military applications, particularly in decryption technology. However, the current revenues of these companies are minimal, with IonQ, valued at over $10 billion, projecting $41.6 million in revenue for fiscal 2024, and Rigetti, valued at $4.4 billion, expected to generate just $11 million in the same period.
Analysts, like Richard Shannon from Craig-Hallum, suggest that while these companies are far from profitable, their future revenue growth, particularly from government contracts, is crucial to their long-term potential. Shannon also noted that while quantum computing may disrupt traditional computing, it could ultimately benefit Nvidia, a major player in the accelerated computing space.
Jeju Island in South Korea Introduces NFT-Backed Visitor Cards to Appeal to Young Travelers
/in Tech/tarafından ayaksızJeju Island, a renowned self-governing province in South Korea, is reportedly set to integrate non-fungible tokens (NFTs) into its tourism framework to attract a younger demographic. According to a recent report by South Korean publication Maeil Kyungjae (MK), the island’s authorities are planning to launch a digital visitor card initiative powered by NFTs. This innovative project is slated to begin in 2025 and aims to enhance the travel experience by offering exclusive benefits to tourists through blockchain-backed solutions.
The NFT-based visitor cards are expected to roll out during the latter half of 2025, providing a host of advantages for travelers. These digital cards will grant users special discounts at major tourist attractions, membership perks, and travel subsidies for domestic visitors. By leveraging blockchain technology, Jeju Island seeks to create a more engaging and modern tourism model that resonates with tech-savvy travelers and younger audiences familiar with digital assets.
This initiative reflects Jeju Island’s broader strategy to remain a competitive global tourism destination while embracing emerging technologies. The move to adopt NFTs for visitor engagement aligns with a growing trend of integrating blockchain into various industries, including travel and hospitality. By offering tangible benefits through NFTs, the island hopes to strengthen its appeal as a forward-thinking destination while simultaneously supporting its local economy.
As Jeju Island prepares to implement this program, it highlights the potential for NFTs to go beyond collectibles and serve practical purposes in daily life. This initiative not only showcases the versatility of blockchain technology but also signals a shift in how traditional tourism can adapt to digital innovation. By blending cutting-edge tech with its natural beauty and cultural richness, Jeju Island aims to create a unique experience for its visitors.
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