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Quantum Computing Stocks Dive After Nvidia Ceo Says Tech 15 30 Years A

Bonisiwe Shabane
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quantum computing stocks dive after nvidia ceo says tech 15 30 years a

Quantum computing stocks dropped Wednesday after Nvidia CEO Jensen Huang declared that useful quantum computers are many years away. "If you said 15 years for very useful quantum computers, that would probably be on the early side," he said during Nvidia's analyst day. "If you said 30, it's probably on the late side. But if you picked 20, I think a whole bunch of us would believe it." Huang said he believes Nvidia will play a "very significant part" in creating the computers and helping the industry "get there as fast as possible." Stocks tied to quantum computing tumbled on the heels of the comments, with Rigetti Computing plunging 40%, while IonQ shed 37%.

D-Wave Quantum dropped more than 30%, while the Defiance Quantum & AI ETF fell 4%. Quantum Computing, which announced a stock offering to raise $100 million, sank 37%. "As valuations have become a bit lofty, we're not surprised by today's correction," said AXS Investments CEO Greg Bassuk, calling the reaction somewhat "overblown." 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." Huang also said Nvidia is an ideal partner for quantum computing companies because "it turns out that you need a classical computer to do error correction with the quantum computer, and that classical computer... D-Wave Quantum was down 33% Wednesday afternoon, while Rigetti, IonQ, and Quantum all declined around 40%. The Defiance Quantum (QTUM) exchange-traded fund (ETF), made up of the listed companies along with other chip and tech companies like Nvidia, was down 4.5%. Quantum computing stocks IonQ (IONQ), Rigetti Computing (RGTI), D-Wave Quantum (QBTS) and Quantum Computing (QUBT) plunged Wednesday after Nvidia (NVDA) CEO Jensen Huang said that the technology won't be "very useful" for 15-30 years.

"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… 12/31/2025 Axsome's market cap has grown to $9.1 billion. 12/31/2025 Axsome's market cap has grown to $9.1 billion. Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20! Get market updates, educational videos, webinars, and stock analysis.

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Quantum Computing Stocks Dropped Wednesday After Nvidia CEO Jensen Huang

Quantum computing stocks dropped Wednesday after Nvidia CEO Jensen Huang declared that useful quantum computers are many years away. "If you said 15 years for very useful quantum computers, that would probably be on the early side," he said during Nvidia's analyst day. "If you said 30, it's probably on the late side. But if you picked 20, I think a whole bunch of us would believe it." Huang said h...

D-Wave Quantum Dropped More Than 30%, While The Defiance Quantum

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"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." Huang also said Nvidia is an ideal partner for quantum computing companies because "it turns out that you need a classical computer to do error correction with the quantum computer, and that classical computer... D-Wave Quantum was down 33% Wednesday afternoon, while Rig...

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"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… 12/31/2025 Axsome's market cap has grown to $9.1 billion. 12/31/2025 Axsome's market cap has grown to $9.1 billion. Get instant access to exclusive stock lists, expert market analysis and powerful tools with 2 months of IBD Digital for only $20! Get market updat...