Wall Street Breakfast Nvidia pulls the rug out from under quantum stocks
Jan 8, 2025
The CEO of Nvidia warns it could take 20 years for quantum computers to become practical, leading to a notable decline in quantum stock values. AMC's leadership shares the struggles of shareholders, while a slew of NFL favorites win, causing a shakeup in gaming stocks. The podcast also highlights potential mergers and acquisitions in the software sector and examines how recent downgrades of AMD relate to Nvidia's performance, painting a vivid picture of today’s market dynamics.
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Quantum Computing Stock Drop
- Quantum computing stocks dropped after NVIDIA's CEO predicted useful quantum computers are 15-30 years away.
- Some stocks like Grigetti and D-Wave Quantum had seen massive increases in value prior to this.
Sportsbooks Hit by NFL Outcomes
- Flutter Entertainment, owner of FanDuel, reported significant losses due to an unusually high rate of favored teams winning in the NFL.
- This "customer-friendly" season resulted in unexpected headwinds for sports betting companies.
Software M&A Opportunities
- Wolf Research predicts software will be a key area for mergers and acquisitions in 2025.
- This is due to positive market sentiment, increased capital, and a potentially less restrictive regulatory environment.