Quantum Stock Crash Nvidia Ceo S 30 Year Prediction Tradingview
After Nvidia NVDA CEO Jensen Huang said that "very useful" quantum computers are probably 15 to 30 years away, quantum computing stocks slumped drastically Wednesday. Arqit Quantum ARQQ and D-Wave Quantum QBTS dropped about 30% each; Rigetti Computing RGTI shares fell 35%. IonQ (IONQ) fell 28%; Quantum Computing QUBT, which said on Tuesday a $100 million stock offering, fell 32%. Commenting at a question-and-answer session at Nvidia's Consumer Electronics Show Financial Analyst event, Huang cited that for very practical quantum computers, a 15-year target would probably be seen as ambitious, he said. While a 20-year schedule would undoubtedly have general acceptance, a 30-year projection would most certainly be considered as too late. With Quantum Computing QUBT roaring 1,880%, Rigetti soaring 1,500%, and D-Wave Quantum up 985%, the losses follow significant increases in quantum computing companies over the past year.
As of January 7, IonQ scored 290% and Arqit Quantum climbed 230%. Quantum computing stocks have taken a significant hit following Nvidia CEO Jensen Huang's remarks that 'very useful' quantum computers are still 15 to 30 years away from being practical. Huang's statement, made during an analyst meeting, caused stocks of key players in the sector, including IonQ, Rigetti Computing, and D-Wave Quantum, to plunge by nearly 50%. Despite previous optimism fueled by Google’s recent advancements with its Willow chip, which demonstrated rapid computational capabilities, investors are now reassessing their expectations for the technology's timeline. Huang underscored the substantial challenges that remain in developing stable and scalable quantum systems, suggesting that classical computing will continue to play a vital role in the interim. The downturn reflects a broader caution in the market, erasing over $2 billion in market capitalization for the quantum computing sector.
Nvidia remains committed to being a major player in advancing quantum technology despite the bleak forecast. Analyze and predict thedevelopment of events Get the latest news, exclusive insights, and curated content delivered straight to your inbox. The perfect gift for understanding news from all angles. Get the latest news, exclusive insights, and curated content delivered straight to your inbox. 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." 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.” 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%. "We are (just) a year and a half into reinvention of computing. We have a lot of growth to go." #NVDA
All the employees at these quantum computing companies are selling stock as fast as their trading windows allow. They are SO far from commercially viable. Reminds me of this Simpsons scene:
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After Nvidia NVDA CEO Jensen Huang Said That "very Useful"
After Nvidia NVDA CEO Jensen Huang said that "very useful" quantum computers are probably 15 to 30 years away, quantum computing stocks slumped drastically Wednesday. Arqit Quantum ARQQ and D-Wave Quantum QBTS dropped about 30% each; Rigetti Computing RGTI shares fell 35%. IonQ (IONQ) fell 28%; Quantum Computing QUBT, which said on Tuesday a $100 million stock offering, fell 32%. Commenting at a q...
As Of January 7, IonQ Scored 290% And Arqit Quantum
As of January 7, IonQ scored 290% and Arqit Quantum climbed 230%. Quantum computing stocks have taken a significant hit following Nvidia CEO Jensen Huang's remarks that 'very useful' quantum computers are still 15 to 30 years away from being practical. Huang's statement, made during an analyst meeting, caused stocks of key players in the sector, including IonQ, Rigetti Computing, and D-Wave Quantu...
Nvidia Remains Committed To Being A Major Player In Advancing
Nvidia remains committed to being a major player in advancing quantum technology despite the bleak forecast. Analyze and predict thedevelopment of events Get the latest news, exclusive insights, and curated content delivered straight to your inbox. The perfect gift for understanding news from all angles. Get the latest news, exclusive insights, and curated content delivered straight to your inbox....
Huang’s Cautious Outlook During Nvidia’s Analyst Day, Where He Suggested
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 Comp...
Soaring By More Than 1,940%, Rigetti Climbing Over 1,450%, D-Wave
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 c...