NVIDIA's release of a quantum computing model sparks a market rally; Xanadu's founder becomes a billionaire within three days.

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Nvidia’s key endorsement in the field of quantum computing led to the share price of a previously little-known startup soaring nearly threefold in a few days, with the founder’s wealth surpassing the $1 billion mark.

This Tuesday, Nvidia released open-source AI models specifically designed for quantum computing research, triggering a surge across the quantum computing sector.

As of press time, Xanadu Quantum Technologies' stock was trading at $30.2, up 263% from Monday’s close, with the founder Christian Weedbrook’s stake valued at approximately $1.5 billion.

The direct beneficiaries of this trend go beyond just the founder. Early investors such as Ontario Municipal Employees Retirement System, Bessemer Venture Partners, and Georgian Partners have also reaped significant gains from this round of share price rises.

Nvidia's Endorsement Ignites Quantum Computing Sector

The trigger for this surge was the batch of open-source AI models released by Nvidia on Tuesday – these models are designed to assist quantum computing research and have been interpreted by the market as a signal that the chip giant is officially investing resources in the quantum computing field.

Quantum computers are theoretically much more powerful than traditional computers and have long been regarded as an important direction for next-generation computing technology.

Founder’s Stake Value Skyrockets

Toronto-based Xanadu is committed to building one of the first quantum data centers before 2030, with its technical approach focusing on quantum computers that transmit photons (light particles) through optical fibers.

In March this year, Xanadu went public via a merger with a special purpose acquisition company (SPAC), and its share price lingered below $10 until this week, when it suddenly soared due to heated industry sentiment.

According to documents filed by Xanadu with the U.S. Securities and Exchange Commission on March 26, Christian Weedbrook holds 15.6% of the company’s shares.

As the company’s market value nearly tripled this week, his stake has risen to about $1.5 billion, swiftly making him a billionaire.

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