Chipotle dives after it reports comparable sales that missed Wall Street estimates

Quantum computing stocks Rigetti Computing, IonQ, D-Wave Quantum, and Quantum Computing initially popped when Nvidia CEO Jensen Huang unveiled a new architecture called NVQLink to connect quantum computers with GPU supercomputers to aid in error correction, calibration, control, and simulations.

“Working together, the right algorithms running on the GPUs, the right algorithms running on the QPUs, and the two computers working side-by-side. This is the future of quantum computing,” Huang said.

Two of these stocks, Rigetti Computing and IonQ, were listed as “partners contributing” to this new tech in a press release.

However, the stocks then all reversed course to tumble into the red when Huang said, “Today, we’re announcing that the Department of Energy is partnering with Nvidia to build seven new AI supercomputers to advance our nation’s science.”

There may be some conflation of “AI supercomputer” and “quantum computer” going on here. This is not necessarily a competing product, but rather two things that are supposed to work hand-in-hand!

As previously discussed, quantum computing stocks went up for a long time (often on no news at all!), and now appear to have gone down based on a seemingly imperfect interpretation of what appears on the surface to be fairly positive news.

Shares of CrowdStrike and Uberjumped while Palantir pared losses after Nvidia CEO Jensen Huang announced new partnerships with the companies at the chip designer’s GTC in Washington DC.

“AI will also supercharge cyber security challenges, the bad AIs, and so we need an incredible defender. I can’t imagine a better defender than Crowdstrike,” said Huang. “We are partnering with CrowdStrike to make cybersecurity speed of light, to create a system that has cybersecurity AI agents in the cloud but also incredibly good AI agents on prem.”

He then went on to discuss Palantir Ontology, which he called the single fastest enterprise company in the world and probably the single most important enterprise stack in the world today.

“We work with Palantir to accelerate everything Palantir does so that we can do data processing at a much much larger scale and more speed, whether it’s structured data of the past, human-recorded data, unstructured data, and process that data for our government, for national security, and for enterprises around the world, process that data at speed of light and find insight from it.”

Huang also discussed Drive Hyperion, an architecture for companies to create vehicles that are robotaxi-ready. In a press release, the chip designer said it’s partnering with Uber to support the company in “scaling its global autonomous fleet to 100,000 vehicles over time, starting in 2027.”

Shares of Nvidia leapt to session highs after CEO Jensen Huang touted the “exceptionally” strong demand for its flagship products, noting that orders for Blackwell and early Rubin chips were above $500 billion through 2026.

That’s a lot more money in a lot less time than its Hopper GPUs generated to date.

Revenue estimates for Nvidia’s fiscal 2026 and 2027 (which loosely map to calendar years 2025 and 2026) currently sit at a combined $486 billion.

Shares of Trump Media & Technology Group are up after the company announced that it will be making prediction markets available on its Truth Social platform through its partnership with Crypto.com.

Users “will be able to trade prediction contracts related to major events and milestones, such as political elections, interest and inflation rate changes, commodity prices on gold and crude oil, events across all major sports leagues, and more,” per the press release. Beta testing is to begin “in the near future,” followed by a full US launch with designs on a global rollout.

Speech is free and talk is cheap — until you put your money where your mouth is. Prediction markets are a booming business, with Piper Sandler estimating that volumes at Kalshi and Polymarket are poised to be up 91% month on month in October, driven in part by interest into contracts tied to the outcomes of sporting events.

The ascension of prediction markets has been viewed as negative for the “traditional” domains for online sports betting, with the likes of DraftKings and Flutter Entertainment suffering as prediction market activity linked to sports picks up steam. Both these firms, which are looking to increase their footprints in the event contracts space, are selling off as this new entrant also threatens to eat away at market share and, more importantly, a large rival plans a reentrance, with Bloomberg reporting that Polymarket is “preparing to return to the US in the coming weeks with a focus on sports betting,” citing people familiar.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions. Event contracts trading is offered by Robinhood Derivatives, LLC, a registered futures commission merchant with the CFTC.)