The conductance of multiwalled carbon nanotubes (MWNTs) was found to be quantized. The experimental method involved measuring the conductance of nanotubes by replacing the tip of a scanning probe microscope with a nanotube fiber, which could be lowered into a liquid metal to establish a gentle electrical contact with a nanotube at the tip of the fiber. The conductance of arc-produced MWNTs is one unit of the conductance quantum G$_0$ = 2e$^2$/h = (12.9 kilohms)$^{-1}$. The nanotubes conduct current ballistically and do not dissipate heat. The nanotubes, which are typically 15 nanometers wide and 4 micrometers long, are several orders of magnitude greater in size and stability than other typical room-temperature quantum conductors. Extremely high stable current densities, J > 10$^7$ amperes per square centimeter, have been attained.