Nvidia's recent announcement of a "Quantum Day" at its upcoming GPU Technology Conference has captured significant attention, as the company plans to highlight key players in the quantum computing sector. This strategic focus has sparked investor interest, driving Nvidia's stock higher as market participants anticipate potential long-term benefits from the company's involvement in quantum computing. Despite CEO Jensen Huang's cautious remarks about the timeline for "very useful" quantum computers, the event has generated optimism among investors, contributing to a notable increase in Nvidia's stock price.
The AXS 1.25X NVDA Bear Daily ETF (NVDS) experienced a decline, dropping 4.89% to $24.49 as of 18:40 on Wednesday, January 15.