Nvidia shares (NVDA) rose 2% to about $218 on Monday afternoon. This came after the chipmaking giant, in a statement, announced a “record-breaking” fault-tolerant quantum computing simulation that ran on its GH200 superchips. The simulation used JUPITER, Europe’s largest supercomputer.
Nvidia Marks Quantum Computing Research Progress
According to Nvidia, its researchers used the supercomputer to simulate how a future, highly reliable quantum computer might work. They ran the project at Germany’s Jülich Supercomputing Center.
For context, quantum computers are error-prone. As a result, engineers use many imperfect physical qubits to create a smaller number of reliable “logical qubits.”
Nvidia said it simulated and tested a method called “magic state cultivation.” This method used 104 physical qubits, 90% fewer physical qubits than previous methods.
“The 104-qubit simulation is the largest comprehensive simulation of a fault-tolerant quantum computing system to date, with no prior simulations modeling quantum processors in such full detail,” Nvidia noted.
The chipmaker pointed out that the result could help accelerate progress toward useful applications. This includes drug discovery, financial modeling, and materials science.
Nvidia Expands Quantum Computing Partnership
Quantum computing is seen as the next computing area to transform the world. However, the technology and industry remain in the early stages of commercialization.
As a chipmaking giant, Nvidia does not build quantum computers or qubits itself. However, it partners with quantum companies to provide related hardware and software.
Kristel Michielsen, director of the Jülich Supercomputing Center, spoke about the organization’s partnership with Nvidia. Michielsen noted that Europe’s investment in JUPITER lets researchers investigate questions previously out of reach.
“Working with NVIDIA, we’re bringing that capability to quantum computing — helping scientists make better-informed decisions about the designs most likely to deliver useful applications.”
Is Nvidia a Good Stock to Buy Currently?
On Wall Street, Nvidia’s shares continue to boast a Strong Buy consensus rating from analysts. This is based on 33 Buy ratings issued over the past three months.
In addition, the average NVDA price target of $324.20 suggests about 49% upside in the months ahead (see NVDA stock forecast here).
