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Quantum Computing Stocks Plunge After Nvidia Ceo Comments

Bonisiwe Shabane
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quantum computing stocks plunge after nvidia ceo comments

Nvidia CEO Jensen Huang speaks during the launch of the supercomputer Gefion at Vilhelm Lauritzen Terminal in Kastrup, Denmark, Oct. 23, 2024. 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."

Stream NBC 5 for free, 24/7, wherever you are. 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." Quantum computing stocks are plunging again after another major tech leader cast doubts on the technology’s usefulness in the near future. During an appearance on the Joe Rogan podcast, Meta chief executive Mark Zuckerberg echoed Nvidia chief executive Jensen Huang’s prediction that quantum computing’s potential is a “decade plus out.” “I’m not really an expert on quantum computing — my understanding is that’s still quite a ways off from being a very useful paradigm,” Zuckerberg said in the podcast episode released Friday. D-Wave Quantum (QBTS) and Rigetti Computing (RGTI) saw shares fall by more than 25% during mid-day trading on Monday, with D-Wave down by around 30% and Rigetti down by more than 27%.

Quantum Computing, meanwhile, saw its shares fall by around 23%, and IonQ (IONQ) shares were down by more than 12%. The quantum computing stocks also tanked the previous week after Nvidia’s Huang said useful quantum computers are decades away during the chipmaker’s financial analyst day at the Consumer Electronics Show (CES).

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Nvidia CEO Jensen Huang speaks during the launch of the supercomputer Gefion at Vilhelm Lauritzen Terminal in Kastrup, Denmark, Oct. 23, 2024. 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 ...

Stream NBC 5 For Free, 24/7, Wherever You Are. Huang

Stream NBC 5 for free, 24/7, wherever you are. 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." Quantum computing stocks are plunging again after another major tech leader cast doubts on the technology’s usefulness in the near future. During an appearance on the Joe Rogan podcast, Meta chief execut...

Quantum Computing, Meanwhile, Saw Its Shares Fall By Around 23%,

Quantum Computing, meanwhile, saw its shares fall by around 23%, and IonQ (IONQ) shares were down by more than 12%. The quantum computing stocks also tanked the previous week after Nvidia’s Huang said useful quantum computers are decades away during the chipmaker’s financial analyst day at the Consumer Electronics Show (CES).