University of Kwazulu-Natal

Quantum Computing Etf Crashes On Nvidia Ceo Comments

Bonisiwe Shabane
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quantum computing etf crashes on nvidia ceo comments

Kentucky’s junior U.S. Senator Rand Paul, R-Bowling Green, has introduced the Health Marketplace and Savings Accounts for All Act, to make all Americans eligible for Health Savings Accounts (HSAs). I’m not usually the “post about it” type, but yesterday was ridiculous. First it was my neighbor’s Amazon box. Then the house across the street. Then mine — all gone within a couple hours.

No smashed boxes, no mess. Just… vanished. This is the reality for so many of us in California. I applied for SNAP benefits because I was struggling to eat, but I got a letter saying my Social Security income was slightly over the limit. I was devastated. I was apparently "too rich" for help, but I still couldn't afford eggs.

I almost peeled it off without thinking. It was just a tiny strip of blue painter's tape stuck to the bottom of my handle. I thought maybe a delivery driver left it, or maybe my grandkid was playing around. Grocery shopping used to be pretty straightforward. You'd grab your usual items, pay, and go home without thinking twice about the total. But lately, your receipt probably looks more like a small car payment than a week's worth of food.

The quantum computing sector experienced a significant setback on Wednesday as Nvidia (NVDA) CEO Jensen Huang‘s remarks cast a long shadow over the timeline for the practical application of quantum computers. Huang’s cautious outlook during Nvidia’s analyst day, where he suggested that “very useful” quantum computers might be 15 to 30 years away from realization, led to a sharp decline in stock prices for leading... Quantum Computing Inc. (QUBT), IonQ Inc. (IONQ), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) saw their shares plummet in premarket trading, with drops exceeding 24% for Quantum Computing, D-Wave, and Rigetti, and a 16% decrease for IonQ. This downturn was particularly stark given the recent surge in these stocks, fueled by optimism about quantum computing’s potential and amplified by Alphabet’s (GOOGL, GOOG) recent advancements in the field.

Over the past year, quantum computing stocks have seen dramatic gains, with Quantum Computing Inc. soaring by more than 1,940%, Rigetti climbing over 1,450%, D-Wave surging by more than 1,025%, and IonQ rising nearly 300%. Huang’s prediction not only affected U.S.-based companies but also had a ripple effect in Asia, notably impacting Chinese quantum computing firms like QuantumCTek Co. Ltd and Accelink Technologies Co. Ltd, whose shares also fell significantly. His statement provided a stark contrast to the bullish sentiment that had driven these stocks to new heights, suggesting that the technology’s journey to becoming a mainstream, practical tool might be much longer than...

This reaction in the stock market underscores the volatility and speculation inherent in investing in cutting-edge technologies like quantum computing. While the theoretical benefits of quantum computing, including solving complex problems in cryptography, drug discovery, and optimization, are well-documented, the practical implementation faces numerous challenges. These include not only the technical hurdles of maintaining quantum coherence and reducing error rates but also the significant investment in research and development required to make these systems viable for everyday use. Moreover, Huang’s comments reflect a broader industry acknowledgment that quantum computing, despite its promise, remains in the realm of advanced research rather than immediate commercial application. This perspective tempers expectations and might encourage a more realistic approach to investment and development in the sector, focusing on long-term growth and partnerships with classical computing technologies to bridge current gaps. A handful of quantum computing stocks have skyrocketed as some paint the technology as the next big technological innovation, but Nvidia CEO Jensen Huang warned analysts that any practical applications are still many years...

Huang said Nvidia is not worried about quantum computing and added that practical applications for the nascent but powerful computers are at least 15 years away or more. “And so if you kind of said 15 years for very useful quantum computers, that’d probably be on the early side. If you said 30 is probably on the late side. But if you picked 20, I think a whole bunch of us would believe it,” Huang told analysts, according to Axios. Quantum computers, which are powered by atom-sized “qubits” that operate via the rules of quantum mechanics, have been shown to be extremely powerful, but only in certain situations. They are distinct from existing “classical” supercomputers, which operate more similarly to a basic laptop, albeit at a much higher level.

Last month, Google researchers announced its homegrown Willow quantum-computing chip could solve a complex math problem that would’ve taken the most powerful existing supercomputers 10 septillion years, or more than the estimated age of... Several stocks across the quantum computing industry, including Rigetti Computing (RGTI), D-Wave Quantum (QBTS), IonQ (IONQ), and Quantum Computing (QUBT), fell sharply Wednesday following comments from Nvidia (NVDA) CEO Jensen Huang about the technology. Huang said at an analyst event Tuesday that "very useful quantum computers," which could make a number of computing tasks more efficient, are likely 15 to 30 years away. "If you kind of said 15 years for very useful quantum computers, that would probably be on the early side," Huang said. "If you said, you know, 30, it’s probably on the late side. But if you picked 20, I think a whole bunch of us would believe it."

Quantum computing stocks took a significant hit during Wednesday’s premarket trading, with shares of Quantum Computing Inc. (NASDAQ: QUBT), D-Wave Quantum (NYSE: QBTS), and Rigetti Computing (NASDAQ: RGTI) dropping by over 40%. The decline followed comments from Nvidia CEO Jensen Huang, who predicted that widespread adoption of quantum computing technology could take two decades. Speaking during a Q&A session after Nvidia’s analyst day, Huang stated that 15 years would be an optimistic timeline, while 30 years would be on the slower end. He suggested 20 years as a realistic estimate for when quantum computing could become mainstream. Huang’s remarks dampened recent enthusiasm around quantum computing stocks, which have seen gains in recent weeks.

The comments also negatively impacted international quantum computing companies, including China-listed Accelink Technologies and QuantumCTek. The decline came on the heels of a challenging Tuesday for the tech sector, as Nvidia’s CES 2025 hardware presentation underwhelmed some investors. Despite this, Nvidia’s stock remains up for the year, buoyed by strong performance from its partner firm Foxconn. Starting her career as a Political Journalist in 2020, Guntakin Mehnatli has dedicated the past four years to becoming an expert in finance and political news reporting. She also maintains a keen focus on trending topics in artificial intelligence, technology, startups, business and related areas. Rigetti Computing (NASDAQ: RGTI) is making great strides with its quantum computing technology, offering investors a high-reward opportunity.

Quantum computing is the next level, potentially providing exponentially more computing power than today's most advanced traditional computers. However, this stock also carries high risks, including concerns about capitalization, dilution, and whether it can even cross the finish line. The most likely scenario for this stock in 2025 is volatility, with a chance of retesting long-term lows and hitting new highs. Rigetti Computing is a leading manufacturer of quantum computers and the processors that drive them. Revenue is primarily driven by its cloud-based quantum-computing-as-a-service business. Its claims to fame are its commercially available 9-qubit processor and its industry-leading multi-chip processor, which is expected for full commercial release by mid-year.

The Ankaa-3 is a scalable device that provides 82 qubits of processing power and is available on Rigetti’s Quantum Cloud Services platform. It is slated to be released on Amazon’s Braket and Microsoft Azure Quantum before mid-year. Other catalysts in 2025 include the expected launch of a new architecture, including a 32-qubit system linking four chips. The outlook for Rigetti Computing revenue growth is robust, and growth is expected to reach high-double to low-triple-digits by the decade's end. However, the forecasts may be aggressive due to sluggishness and underperformance in 2024. An AI-generated image illustrates the typical "chandelier" design of a quantum computer.

(bpawesome/Shutterstock) Nvidia (NVDA) Chief Executive Jensen Huang's controversial remarks about quantum computing reached Rigetti Computing CEO Subodh Kulkarni via text. A frantic acquaintance in the investment community wanted to know, "What's going on? Why is Jensen so negative about quantum computing?" Gil Luria, an analyst with D.A. Davidson, had just given another quantum computing company, IonQ, a buy rating. He was…

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