Quantum Computing Stocks Plunge After Nvidia CEO Comments

IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing tumbled in premarket trading in New York on Wednesday after Nvidia CEO Jensen Huang stated that "very useful" quantum computers are years out. 

During a question-and-answer session during Nvidia's analyst day event, Evercore's Mark Lipacis asked Huang:

Thanks a lot for hosting the meeting. Really appreciate it. Jensen, you guys have made some announcements on quantum computing. Can you share with us your view on how this technology develops over time, what your strategy is? And longer term, pick the time frame, 5, 10, 15 years. What is the difference between what quantum computing will be doing versus accelerating computing platforms that you have?

Jensen replied, "If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it's probably on the late side."

Here's the full Q&A between Lipacis and the Nvidia CEO:

Huang's timeline for practical quantum computing appears to be 2040, sending shares of quantum computing stocks, such as Quantum Computing Inc., D-Wave Quantum Inc., and Rigetti Computing Inc., tumbling more than 14% in premarket trading, while IonQ slid about 10%.  

Quantum computing stocks erupted in late 2024 after Google-parent Alphabet announced its latest quantum-computing chip, "Willow," as a "breakthrough."

Did Huang pop the quantum computing stock bubble?