University of Kwazulu-Natal

Quantum Computing Stocks Tumble After Nvidia Ceo Says Very Useful

Bonisiwe Shabane
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quantum computing stocks tumble after nvidia ceo says very useful

Nvidia (NVDA) chief executive Jensen Huang doesn’t think useful quantum computers will be here anytime soon — and stocks are not reacting well to it. Quantum computing stocks such as IonQ (IONQ) and Rigetti Computing (RGTI) fell by more than 40% Wednesday morning after Huang’s comments during Nvidia’s financial analyst day at the Consumer Electronics Show (CES). IonQ’s shares were down by about 45%, while Rigetti’s shares fell by more than 48% mid-morning. Quantum Computing (QUBT), which announced a stock offering earlier this week to raise $100 million, saw its shares fall by about 49%. D-Wave Quantum (QBTS), meanwhile, saw shares fall by around 47%. “If you said 15 years for very useful quantum computers, that would probably be on the early side,” Huang said.

“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.” The Nvidia chief said he thinks the AI chipmaker will play “a significant part” in the development of quantum computers, and push it toward getting “there as fast as possible.” ** Shares of quantum computing firms tumble in extended trade after Nvidia NVDA CEO Jensen Huang said computers based on the emerging technology are as much as 30 years away ** "So if you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said, you know, 30 is probably on the late side, but if you picked 20, I think a whole bunch of us would believe it" — Huang

** Rigetti Computing RGTI falls 10.3% while IonQ Inc IONQ is down 8.5%, Quantum Computing Inc QUBT down 6.8% and D-Wave Quantum QBTS down 7.4% ** Quantum-computing ETF Defiance Quantum ETF QTUM also falls 2.4%

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Nvidia (NVDA) Chief Executive Jensen Huang Doesn’t Think Useful Quantum

Nvidia (NVDA) chief executive Jensen Huang doesn’t think useful quantum computers will be here anytime soon — and stocks are not reacting well to it. Quantum computing stocks such as IonQ (IONQ) and Rigetti Computing (RGTI) fell by more than 40% Wednesday morning after Huang’s comments during Nvidia’s financial analyst day at the Consumer Electronics Show (CES). IonQ’s shares were down by about 45...

“If You Said 30, It’s Probably On The Late Side.

“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.” The Nvidia chief said he thinks the AI chipmaker will play “a significant part” in the development of quantum computers, and push it toward getting “there as fast as possible.” ** Shares of quantum computing firms tumble in extended trade after Nvidia NVDA CEO Jensen Huang said com...

** Rigetti Computing RGTI Falls 10.3% While IonQ Inc IONQ

** Rigetti Computing RGTI falls 10.3% while IonQ Inc IONQ is down 8.5%, Quantum Computing Inc QUBT down 6.8% and D-Wave Quantum QBTS down 7.4% ** Quantum-computing ETF Defiance Quantum ETF QTUM also falls 2.4%