Nvidia launch sends quantum stock surging 251%, mints billionaire
By Mehab Qureshi
Published on April 17, 2026.
Christian Weedbrook, founder and CEO of Toronto-based Xanadu Quantum Technologies, has become a billionaire after a successful launch of Nvidia's quantum push. The company's stock surged 251% after releasing a family of open-source AI models called Ising, which are up to 2.5 times faster and three times more accurate than pyMatching. The announcement was largely triggered by Nvidia's announcement of Ising. Early backers include the Ontario Municipal Employees Retirement System, a pension fund for municipal workers, and two venture firms that wrote early checks. Weedbrook owns 15.6% of Xanadu's shares through 46.4 million multiple voting shares.
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