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Quantum Stocks Plunge After Nvidia Ceo Says Very Useful Quantum

Bonisiwe Shabane
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quantum stocks plunge after nvidia ceo says very useful quantum

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." .css-9d8khp-TimeTag{display:inline-block;}Updated Jan. 8, 2025 at 6:32 PM IonQ and other quantum-computing stocks slid after Nvidia Chief Executive Jensen Huang played down the likely utility of the technology in the near- or medium-term.

"If you kind of said 15 years for very useful quantum computers, that'd probably be on the early side. If you said 30, [it] is probably on the late side," Huang told analysts late Tuesday. Quantum-computing shares, which have surged since Alphabet announced a technological breakthrough last month, tumbled in midday trading. Shares of IonQ (IONQ), Quantum Computing (QUBT), D-Wave Quantum (QBTS) and Rigetti Computing (RGTI) all fell 35% or more. 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...

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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." .css-9d8khp-TimeTag{display:inline-block;}Updated Jan. 8, 2025 at 6...

"If You Kind Of Said 15 Years For Very Useful

"If you kind of said 15 years for very useful quantum computers, that'd probably be on the early side. If you said 30, [it] is probably on the late side," Huang told analysts late Tuesday. Quantum-computing shares, which have surged since Alphabet announced a technological breakthrough last month, tumbled in midday trading. Shares of IonQ (IONQ), Quantum Computing (QUBT), D-Wave Quantum (QBTS) and...

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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.