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D-Wave Quantum CEO Alan Baratz said Nvidia’s Jensen Huang is “dead wrong” about quantum computing after comments from the head of the chip giant spooked Wall Street on Wednesday.

Huang was asked on Tuesday about Nvidia’s strategy for quantum computing. He said Nvidia could make conventional chips that are needed alongside quantum computing chips, but that those computers would need 1 million times the number of quantum processing units, called qubits, than they currently have.

Getting “very useful quantum computers” to market could take 15 to 30 years, Huang told analysts.

Huang’s remarks sent stocks in the nascent industry slumping, with D-Wave plunging 36% on Wednesday.

“The reason he’s wrong is that we at D-Wave are commercial today,” Baratz told CNBC’s Deidre Bosa on “The Exchange.” Baratz said companies including Mastercard and Japan’s NTT Docomo “are using our quantum computers today in production to benefit their business operations.”

“Not 30 years from now, not 20 years from now, not 15 years from now,” Baratz said. “But right now today.”

D-Wave’s revenue is still minimal. Sales in the latest quarter fell 27% to $1.9 million from $2.6 million a year earlier.

Quantum computing promises to solve problems that are difficult for current processors, such as decoding encryption, generating random numbers and large-scale simulations. Technologists have been working on it for decades, and companies including Nvidia, Microsoft and IBM are pursuing it today, alongside researchers at startups and universities.

D-Wave was among a number of companies that enjoyed a revival of interest from investors in December, when Google announced a breakthrough in its own research. Google said that it had completed a 100 qubit chip, the second of six steps in its strategy to build a quantum system with 1 million qubits.

D-Wave shares soared 178% in December after popping 185% the month prior. Quantum company Rigetti Computing, which plummeted 45% on Wednesday, quintupled in value last month. IonQ dropped 39% on Wednesday. The stock rose 14% in December following a 143% rally in November.

Baratz acknowledged that one approach to quantum computing, called gate-based, may be decades away. But he said D-Wave uses an annealing approach, which can be deployed now.

While Huang’s “comments may not be totally off-base for gate model quantum computers, well, they are 100% off base for annealing quantum computers,” Baratz said.

Nvidia declined to comment.

Even after Wednesday’s slide, D-Wave shares are up about 600% in the last year, giving the company a market cap of $1.6 billion.

Quantum computing has also been boosted by investor interest in artificial intelligence, the technology that’s led to surging demand for Nvidia’s graphics processing units, which use conventional transistors instead of Qubits. Nvidia’s market cap has increased by 168% in the past year to $3.4 trillion.

Baratz said D-Wave systems can solve problems beyond the capabilities of the fastest Nvidia-equipped systems.

“l’ll be happy to meet with Jensen any time, any place, to help fill in these gaps for him,” Baratz said.

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Los Angeles Clippers star forward Kawhi Leonard has stepped away from the team in order to help members of his family who were forced to evacuate due to the Southern California wildfires, according to NBA insider Chris Haynes.

Leonard — who reportedly purchased a home in the hard-hit Pacific Palisades area in 2021 — will miss the Clippers’ Wednesday night contest in Denver, and it is unclear when he will return to the team.

NBA reactions to the fires

‘I just want to acknowledge and send thoughts and prayers to everyone in (the) Palisades right now,’ Los Angeles Lakers coach JJ Redick said Tuesday. ‘My family, and my wife’s family, my wife’s twin sister, they’ve evacuated.

All things Clippers: Latest Los Angeles Clippers news, schedule, roster, stats, injury updates and more.

‘I know that a lot of people are freaking out right now, including my family. I know a lot of people are scared, so I just want to acknowledge that.’

Golden State Warriors head coach Steve Kerr also spoke about the tragedy. ‘With everything I’m seeing and reading, it’s just terrifying what is happening,’ Kerr said.

Has the NBA postponed any games?

The NBA has yet to postpone any games due to the fires, but that could be coming soon. Already, the NHL has postponed Wednesday night’s game between the Los Angeles Kings and Calgary Flames. The NFL, meanwhile, is monitoring the fire to determine whether or not it needs to postpone or move the playoff contest between the Los Angeles Rams and Minnesota Vikings, which is set for Monday.

The Clippers host games against the Denver Nuggets and Charlotte Hornets this Thursday and Saturday respectively. The Lakers will host the Hornets on Thursday, then the Spurs on both Saturday and Monday.

Kawhi Leonard’s 2024 season

The Clippers currently have a 20-16 record and sit in seventh in the Western Conference.

This post appeared first on USA TODAY

Is it possible that Bill Belichick won’t even be one and done at UNC?

Multiple NFL teams, including the Las Vegas Raiders, according to NFL Media’s Tom Pelissero, have checked in with the legendary football coach, who was hired by the University of North Carolina just last month. Tom Brady, who now owns a minority stake of the Raiders and was Belichick’s quarterback during the New England Patriots’ two-decade dynasty, has been gauging his former coach’s interest in an NFL return, per the report.

Belichick and the Patriots parted ways after 24 years following the 2023 season. He interviewed multiple times with the Atlanta Falcons last year when they were searching for a coach, but they ultimately settled on Raheem Morris. Belichick spent the balance of 2024 working on various media endeavors while remaining around the game in other capacities.

The Raiders fired former coach Antonio Pierce on Tuesday following a 4-13 season, his first full one at the helm. Pierce went 5-4 as the Raiders’ interim coach in 2023 after taking over for Josh McDaniels, who was dismissed following an embarrassing Monday night loss at Detroit.

NFL STATS CENTRAL: The latest NFL scores, schedules, odds, stats and more.

It’s not clear which other club or clubs might be pursuing him.

JARRETT BELL: Black head coaches face a triple standard, not double

Named the Tar Heels’ head man on Dec. 11, Belichick, who’s never worked as a college coach, has been putting together his staff ever since. His five-year contract includes a $10 million buyout if he leaves before June 1.

‘I had some good years in the NFL, so that was OK. But this is really kind of a dream come true,’ Belichick said during his introductory press conference in Chapel Hill on Dec. 12.

Asked at the time about the possibility of an NFL return if circumstances changed, Belichick replied: ‘I didn’t come here to leave.’

The Raiders have not replied to a USA TODAY Sports request for a comment as it pertains to their coaching search.

Belichick, 72, who won a record six Lombardi Trophies with New England and earned two more rings as the New York Giants’ defensive coordinator in 1986 and 1990, has 333 victories as an NFL head coach, second only to Hall of Famer Don Shula (347).

***

Follow USA TODAY Sports’ Nate Davis on X, formerly Twitter, @ByNateDavis.

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The 10-Year Treasury Yield has gone up a full percentage point, from a low of 3.6% in September 2024 to a level of 4.6% this week.  What does this rapid rise in interest rates mean for your portfolio? 

Let’s look at the shape of the yield curve by comparing multiple maturities, review how recent moves on the yield curve relate to previous recessionary periods, and analyze the most important charts to gauge a potential impact.

Higher Rates Mean Bad News for Borrowers

The chart of the 10-Year Treasury Yield ($TNX) has effectively been in a wide trading range since mid-2023.  The 10-Year has fluctuated between lows around 3.6-3.8% and highs in the 4.7-5.0% range.  As we’re now seeing a 4.7% yield on the 10-Year, we could be setting up for a retest of the 2023 high around 5.0%.

Higher rates can definitely put pressure on industry groups like homebuilders, because this move in the 10-Year means new home buyers can expect much higher mortgage payments.  But in terms of broad market implications, the shape of the yield curve could have even more significance in the coming months.

The bottom two panels show the spread between the 10-year point on the yield curve compared to two other maturities: the 3-month and 2-year points.  In recent years, we have experienced an inverted yield curve, where the short-term yields are higher than long-term yields.  But with the Fed lowering short-term rates, and long-term rates turning back higher, we once again have a normal shaped yield curve.

The Yield Curve Is No Longer Inverted- So What?

Investors love to debate whether a recession is likely, because that confirms that the economy is no longer growing as it usually does.  But given the lag in economic data, investors can actually look at the shape of the yield curve to determine if conditions are present that suggest a recessionary period is coming.

Here we’re taking the 2-year vs. 10-year points on the yield curve, and plotting that spread back to 1985.  I’ve placed a red vertical line where the yield curve turned back to a normal shape after being inverted, and I’ve also included orange shaded areas which represent recessionary periods.

You may notice that over the last 40 years, every time we’ve had an inverted yield curve, and then the spread has turned back positive, we’ve seen a recession soon afterwards.  You may also notice that the performance of the S&P 500 (bottom panel) confirms that the yield curve moving back to a normal shape usually happens just before a bear market begins.

While the long-term implications of a normal shaped yield curve are bullish, as they imply optimism about future economic growth, the reality is that the short-term environment for stocks is usually fairly unstable.

Market Trend Is What Matters Most

So what do we do given this bearish headwind for stocks going into 2025?  I would argue that now, more than ever, it pays to follow the trend.  As long as the medium-term and long-term trends in the S&P 500 remain constructive, then I’ll want to follow that uptrend until proven otherwise.

My Market Trend Model is designed to track the trend in the S&P 500 on three time frames: short-term (a couple days to a couple weeks), medium-term (a couple months), and long-term (over a year).  As of mid-December, the short-term model turned bearish for the S&P 500.  The medium-term and long-term models remain bullish through last Friday.

I consider the medium-term trend to be the most important as it serves as my main “risk on/risk off” measure.  When the model is bullish, that tells me to look for long ideas and take on additional risk.  When the model is bearish, that tells me to focus more on capital preservation than capital growth.

The short-term model turned negative five times in 2024, but the medium-term model remained bullish in all five cases.  This helped me understand that those were brief pullbacks within a longer uptrend phase.  If and when the medium-term model turns negative, you’ll hear me take on a much more cautious tone on my market recap show, as I’ll be looking for opportunities to take risk off the table.

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

It didn’t matter what question was asked of UCLA coach Mick Cronin Tuesday night during a news conference in the aftermath of the Bruins’ 94-75 loss to Michigan. He was going to make sure his team heard exactly what he thought of them, even if it led him to sobering revelations that subsequently went viral.

For nearly 10 minutes in front of reporters in Westwood, Cronin unloaded on UCLA’s effort in what became a rant replayed throughout the college basketball world once the late night Big Ten game ended. Cronin made the theme obvious by bluntly calling his players ‘soft’ and ‘delusional.’

‘It’s really hard to coach people that are delusional,’ Cronin said. ‘The hungry dog gets the bone. We got guys who think they’re way better than they are. They’re nice kids. They’re completely delusional about who they are and the team whose mind is on the right stuff and hungry to get a win in conference play is the team that’s probably going to win.’

UCLA (11-4, 2-2) entered the game ranked No. 21 in the USA Today Coaches Poll, but neither players nor Cronin’s assistant coaches escaped his wrath. He criticized many of the team’s key players by name, particularly given the defensive breakdowns the Bruins endured in their loss at Nebraska last Saturday and then again Tuesday against No. 24 Michigan (12-3, 4-0) in front of a home crowd. The Wolverines shot better than 62 percent from the field, hit 15 3-pointers in the game and got 36 points from big man Vlad Goldin. 

Cronin’s frustrations boiled over almost as soon as he got behind a microphone.

‘I have to run on the court to get guys to play hard,’ Cronin said. ‘It’s crazy and it’s every day and I’m tired of it. It’s every day. I have the most energy of anybody at practice any day. I’m upset with everybody in that locker room – my assistant coaches and my players. I mean I don’t need to do anything else. I almost got 500 wins. I’m only 53. You’d think I’m coaching the Lakers. I mean it’s a joke. It’s a joke. But yet I come in and I have more passion and energy and pride than everybody in there. That’s the problem. That is the truth right now.’

Cronin is in his sixth season at UCLA after a successful 13-year run at Cincinnati. He took the Bruins to the Final Four in 2021, made the Sweet 16 the next two seasons, and won the Pac-12 championship and coach of the year honors in 2023. UCLA did not make the NCAA Tournament last season when it finished with a 16-17 record.   

Despite significant roster turnover in recent years due to the transfer portal, UCLA started this season with wins in 10 of its first 11 games. The Bruins’ résumé already includes wins over Oregon, Gonzaga and Arizona. But they’ve lost three of their past four games after the setback against Michigan and a cross-country road trip to Maryland and Rutgers in the new-look Big Ten awaits over the next week. 

If Cronin’s players didn’t know how he felt before, he left no doubt Tuesday.

‘The only chance we have, and I told them this on July 8th, is to be the toughest team and have a great defensive team,’ Cronin said. ‘We don’t have anybody that was an all-league player last year in any league – and we got guys from a lot of leagues.

‘The toughest guy in the room can’t be me every day,’ he added. ‘You can only do so much.’

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Ice hockey may not evoke thoughts of beaches, sunshine and palm trees but that did not stop the NHL from announcing on Wednesday that, for the first time, it will hold outdoor games in Florida next season.

The Florida Panthers will host the New York Rangers in the Jan. 2 Winter Classic at the home of Major League Baseball’s Miami Marlins while the Tampa Bay Lightning will face the Boston Bruins in a Stadium Series game on Feb. 1, 2026 at the home of the NFL’s Tampa Bay Buccaneers.

The Panthers captured their first Stanley Cup championship in 2024 while the Lightning have won three championships in their history, including back-to-back titles in 2020 and 2021.

‘Stanley Cups, strings of sellouts and the exponential growth of youth and high school hockey throughout the state have demonstrated that Florida is a hockey hotbed,’ NHL Commissioner Gary Bettman said in a news release.

‘Outdoor NHL games in the Sunshine State? Never let it be said that our league isn’t willing to accept a challenge.’

In the more than 30 years since the NHL expanded into Florida both franchises have enjoyed significant success, most recently with each of the last five Stanley Cup Final series featuring one of the Florida franchises.

Outdoor games have become a staple of the NHL’s regular season schedule with contests being staged in some of baseball’s and football’s most iconic stadiums.

The NHL has even held outdoor games in warm-weather climates before, notably Los Angeles, Dallas and Nashville.

The 2024-25 NHL season’s Winter Classic was held on Dec. 31 in Chicago while Columbus will host a Stadium Series game in March.

This post appeared first on USA TODAY

The Baltimore Ravens are riding a four-game winning streak into the NFL playoffs. The AFC North champions will begin their postseason campaign at home against divisional foe Pittsburgh in a third game between the two teams this season.

However, the Ravens may face the Steelers without Zay Flowers, their top wide receiver from the regular season.

The second-year wideout led the team in receptions and receiving yards but suffered a leg injury in the second quarter of Baltimore’s regular season finale against the Cleveland Browns.

After medical personnel helped him on the field, Flowers walked to the sideline under his own power and headed back to the locker room. He did not return to the game.

His status is up in the air for the wild card playoffs. Here’s the latest on his availability:

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Zay Flowers injury update

Flowers did not practice on Tuesday, per the team’s injury report, and was not seen on the field for Wednesday’s practice.

The Ravens have one more practice on Thursday before Saturday night’s game against Pittsburgh.

Flowers has been an integral part of the Ravens’ offense this season. He notched his first career 1,000-yard season and led the pass-catching corps in first downs (48).

Ravens coach John Harbaugh said after the win over Cleveland that Flowers would have an MRI on his leg on Sunday morning after the game. Harbaugh confirmed on Monday that the injury was not season-ending.

‘It’s just going to be day-to-day,” Harbaugh said. “Try to do everything he can do to get back as soon as he can and we’ll see where that takes us.”

Ravens WR depth chart

Here’s who makes up the rest of the Ravens’ wide receiver corps with Flowers potentially out for Saturday’s game:

Rashod Bateman
Nelson Agholor
Steven Sims
Devontez Walker
Tylan Wallace

Baltimore also has wide receivers Malik Cunningham, Keith Kirkwood, Dayton Wade and Anthony Miller signed to the practice squad.

Zay Flowers stats

In 17 regular season games, Flowers had 74 receptions for 1,059 yards and four touchdowns. He also had nine carries for 56 rushing yards.

Who are the Ravens playing in playoffs?

Baltimore Ravens (12-5, AFC North winners) vs. Pittsburgh Steelers (10-7, AFC wild card No. 2)

The Ravens and Steelers will match up for the third time this season. They split the season series with Pittsburgh winning 18-16 in Week 11 and Baltimore winning 34-17 in Week 16.

This is the first time the two teams will meet in the playoffs since the 2014 NFL season. Baltimore won that game 30-17.

This post appeared first on USA TODAY

Boxer Claressa Shields is preparing for a world title heavyweight bout against Danielle Perkins on Feb. 2, but she’s happy to discuss fighting someone else.

Jake Paul.

“I don’t know if it’s something that can happen, but I know that I can whip Jake Paul’s (expletive) and people who are against that are just sexist and they don’t know boxing,’ Shields, the most decorated female boxer in history, told USA TODAY Sports. “It’s very strange to me that they think that a YouTuber can beat a woman boxer who has two Olympic gold medals, (multiple) world titles and fought as a heavyweight. …

“He does not have the experience. They talk about power. You can have power, but you got to have the skills to land a punch.’’

A representative for Paul did not immediately respond to requests for comment made by voicemail and text message.

Shields, 29, is 15-0 as a pro with three knockouts. She is 5-foot-8 and is expected to weigh in at about 175 pounds for her second consecutive heavyweight bout.

Paul, 27, is 11-1 with seven knockouts and has fought mostly as a cruiserweight, which has a 200-pound maximum at weigh-in. He is coming off a victory over Mike Tyson by unanimous decision – which did not impress Shields.

“Jake Paul showed that he has not gotten better with his skills,’ she said. “He needs to train harder and better. And honestly, I think the girl that I’m getting ready to fight against, Danielle Perkins, can beat Jake Paul, too.’

Shields’ beef with Paul appears to stem in part from Paul having picked Savannah Marshall to beat Shields in 2022. The only defeat of Shields’ career came against Marshall as an amateur in 2012 at the world championships.

Shields avenged the loss by beating Marshall by unanimous decision.

“(Paul) tried to apologize and all that other type of stuff after he picked Savannah to beat me in a fight,’ Shields said. “But (expletive) that apology. Fight me.’

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The MLB season is coming up quick. In fact, pitchers and catchers report in a little over a month. However, despite the short timeline, there are still numerous free agents and trade targets ripe for the picking, ready to help improve your favorite team.

Game-changers like Roki Sasaki, Alex Bregman, and Anthony Santander remain unsigned. Players like Nolan Arenado are actively seeking trades as well. With so many talented players still up for grabs, trying to predict the outcome of the 2025 season seems an impossible task. Hopefully, as the offseason progresses, we’ll see more of those-high end players wind up on contenders across the league, rather than waiting deep into spring training like last year.

Here are the latest free agency and trade rumors form around MLB.

Bregman is Red Sox desired third baseman?

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Fortunately for the Red Sox, this sounds like a ‘rich get richer’ problem, where they’d have too much of a good thin.

Nolan Arenado seeking trade to Red Sox

Arraez headed to the Yankees?

With Gleyber Torres headed to Detroit, the Yankees are thin at second base, and are eyeing potential replacements. A name that has consistently come up is San Diego’s Luis Arraez. The soon-to-be 28-year-old just won his third consecutive batting title, but his lack of versatility on offense and defense makes him a tough sell for the Yankees according to Jon Heyman of the New York Post.

As of right now, it appears moving Jazz Chisholm back to second base and moving either DJ Lemahieu or Oswaldo Cabrera to third is their top option.

Padres emerging as favorites for Roki Sasaki?

Although many people believe Sasaki has already chosen the Dodgers, MLB executives have started shifting their opinions elsewhere in Southern California. The Padres appear to be one of the top teams for Sasaki, who have yet to spend any money in free agency – not that Sasaki would cost much this year given his situation.

Sasaki was mentored by Yu Darvish and the possibility of playing with one of his idols could sway Sasaki to join up in San Diego rather than opting for the bright lights of Los Angeles.

The Padres are in dire need of pitching. They will not have Joe Musgrove all season and could lose both Michael King and Dylan Cease to free agency following 2025.

Anthony Santander’s market heating up?

After hitting 44 home runs in 2024, it has been shocking just how slow the market for Anthony Santander has been. He’ll be 30 in 2025, but he still boasts immense power and has consistently improved his OPS in each of the last four seasons.

Well, it appears teams are finally starting to check in on him. KPRC’s Ari Alexander reports that the Toronto Blue Jays have made an official offer to Santander. Given Toronto’s desperate need for power after only Vladimir Guerrero Jr. was able to pop 20 homers in 2024, Santander would be an incredible fit who could slide into the outfield right away.

Pete Alonso might get forced into short-term deal

Reports from both ESPN’s Bob Nightengale and Jeff Passan hint that Alonso may not get the deal he wants in free agency, instead having to opt for a short-term deal with multiple opt-out clauses. Nightengale elaborates, noting that there are eight teams that have expressed interest in Alonso, including the Blue Jays and Red Sox, but the fact that Alonso remains unsigned hints that one or both sides are unhappy with the other’s offer.

Given that Guerrero Jr. has expressed interest in joining the Red Sox if Toronto fails to give him an extension before spring training this year, the Red Sox are likely less willing to throw the kitchen sink at Alonso. Meanwhile, the Blue Jays will likely wait to see if they can’t get a deal done with Guerrero before making a better offer to Alonso. This small game of chicken could open the door for another team to snag Alonso if they are willing to offer him a longer-term contract.

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President Biden will be in office less than two more weeks, but that’s not slowing down Utah Attorney General Sean D. Reyes and Texas Attorney General Ken Paxton, both Republicans, from taking the Biden administration to court over new energy-efficient housing standards they argue undermine affordable housing and go beyond what federal law allows.

This isn’t the only late lawsuit or complaint filed against the Biden White House in its waning days, and it marks Paxton’s 103rd lawsuit challenging the Democratic administration.

‘So, I don’t know if anybody’s close to that, but he’s kept us busy because we’ve had to prevent him from being more of a king or a dictator than an elected executive who is responsible for implementing, not creating, laws,’ Paxton told Fox News Digital in an interview. 

Paxton said they ‘may have another’ lawsuit on the way, but they may not have it ready in time.

In addition to Utah and Texas, the states participating in the lawsuit with the National Association of Home Builders are Alabama, Arkansas, Idaho, Indiana, Iowa, Kansas, Louisiana, Missouri, Montana, Nebraska, South Carolina, Tennessee and West Virginia. The coalition contends the administration’s energy standards are not only burdensome but also exceed the authority granted by Congress. 

‘Even as our nation prepares to transition to a new administration, the outgoing HUD and USDA offices are committed to inflicting unwanted and unneeded cost increases on Americans who are already struggling to pay their bills, provide for their families, and secure a brighter future for their children,’ Reyes said in a statement.

The Biden administration has claimed these rules will save money by making homes more energy efficient. However, critics argue the rules are increasing upfront costs and reducing options for buyers.

The lawsuit also questions whether the administration had the legal authority to enforce these rules. The attorneys general say the administration is relying on private organizations, like the International Code Council, to set standards that go beyond what the original law intended.

Biden’s renewable energy agenda has been a controversial focal point of energy critics over the last four years. On Monday, Biden also signed an executive action that bans new drilling and further oil and natural gas development on more than 625 million acres of U.S. coastal and offshore waters. 

Trump’s press secretary quickly slammed the order on X. 

‘This is a disgraceful decision designed to exact political revenge on the American people who gave President Trump a mandate to increase drilling and lower gas prices. Rest assured, Joe Biden will fail, and we will drill, baby, drill,’ Karoline Leavitt wrote on X. 

More than a dozen Republican AGs over the last four years have kept the Biden administration on alert and issued notices on several of his policies. In November, Iowa Republican Attorney General Brenna Bird, alongside more than 20 other attorneys general, sent a letter to special counsel Jack Smith, New York Attorney General Letitia James and Fulton County District Attorney Fani Willis, calling on them to drop their cases against President-elect Trump to avoid the risk of a ‘constitutional crisis.’

Paxton also filed a lawsuit in November against the Biden-Harris Department of Justice to prevent potential destruction of any records from Smith’s ‘corrupt investigation into President Donald Trump,’ according to his office. 

Fox News Digital has reached out to the White House for comment but did not hear back by time of publication.

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