Quick overview

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Asian software and IT stocks surged after Nvidia unveiled a new open-source AI model designed to accelerate quantum computing development.

Shares of several cybersecurity and software companies, including Axgate Co., in South Korea, as well as ICTK Co., momentarily exceeded their 30 percent daily trading cap. GuoChuang Software Co. in China, as well as QuantumCTek Co., both increased by at least 8%, as did Japan’s Fixstars.

Expectations that AI can enhance quantum computing and make it more scalable and useful have been rekindled by Nvidia’s new Ising artificial intelligence model, which debuted late on Tuesday in Asia.

However, according to Bloomberg Intelligence analyst Robert Lea, “the deployment of practical, large-scale quantum computing remains a long way off, even though these tools can potentially help accelerate developments.”

The gains on Wednesday came as tech and AI stocks rose throughout the region, aided by indications that peace negotiations between the US and Iran were resuming. Stratistics Market Research Consulting projects that the global quantum computing market will grow from approximately $1.7 billion in 2024 to over $11 billion by 2030.