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Jensen Huang of Nvidia (NVDA) has drastically shifted his position on quantum computing. In January of this year, Huang said that we were at least 15 to 20 years away from “very useful” quantum computers. If you said 15 years for very useful quantum computers, that would probably be on the early side," he said during Nvidia's analyst day.

But by June, he changed his tune. He said, "Quantum computing is reaching an inflection point". He stated that "we are within reach" of being able to apply quantum computers “in areas that can solve some interesting problems in the coming years.”

It’s no secret that the market is seeing quantum computing as the “next big thing” after AI. The confidence alone has already turned these stocks into some of the most performant names year-to-date.

What most investors are worried about now is whether or not the bulk of the gains are ahead of behind us. In percentage terms, the gains are almost certainly behind us. But multibagger returns may still be possible as Huang is now putting money where his mouth is.

Nvidia recently crossed $5 trillion in market capitalization, being the first company to do so.

Nvidia is betting big on quantum computing

Nvidia introduced NVQLink for quantum computing on Tuesday, a “high-speed interconnect” that will let quantum processors connect to “world-leading supercomputing labs”.

Per Huang, “In the near future, every NVIDIA GPU scientific supercomputer will be hybrid, tightly coupled with quantum processors to expand what is possible with computing,” elaborating that “NVQLink is the Rosetta Stone connecting quantum and classical supercomputers — uniting them into a single, coherent system that marks the onset of the quantum-GPU computing era.”

This caused the quantum computing space to heat up more.

Huang also said, "When I say quantum, the stock prices go up, so quantum quantum quantum!"

Two of the biggest quantum computing startups are in its partners list: Rigetti (RGTI), IonQ (IONQ).

RGTI and IONQ stock have both corrected by 25-30% each from mid-October prices. I believe now is a good time to buy back in as NVDA stock continues soaring and is redirecting bullishness towards the quantum computing sector.

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