Last month, the U.S. chip giant released AI models designed to help quantum computing firms calibrate their processors and correct errors. “It’s great to see Nvidia in this space,” CEO Christian Weedbrook said on Xanadu’s first-ever earnings call Thursday. But the software it unveiled “wasn’t as interesting for us.” (The Logic)

Talking point: Xanadu has already had tools similar to the ones Nvidia just released “for five or six years for our photonic system,” Weedbrook said. Unlike competitors, Xanadu also can’t use Nvidia’s flagship chips for the all-important task of error correction, because its light-based quantum computing approach is just too fast. The Toronto-based firm is instead working on specialized hardware with new investor AMD. Nvidia’s model release led to a jump in quantum computing stocks, with retail investors hoping it would speed up development of the technology. Weedbrook welcomed the share price bump, but said he didn’t think the market movement was “really warranted.” On Thursday, Xanadu reported US$2.8 million in revenue in the first quarter of 2026, quadruple the US$699,000 it brought in during the same period the previous year. The stock traded down as much as 10.9 per cent on the Nasdaq Friday morning.