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Rigetti Ionq Stocks Plunge After Nvidia Ceo Says Useful Quantum

Bonisiwe Shabane
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rigetti ionq stocks plunge after nvidia ceo says useful quantum

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 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. 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.”

Daily stocks & crypto headlines, free to your inbox By continuing, I agree to the Market Data Terms of Service and Privacy Statement Quantum computing stocks like Rigetti Computing, Inc. (NASDAQ:RGTI) and IonQ, Inc. (NYSE:IONQ) were clobbered Wednesday following comments from NVIDIA Corp. (NASDAQ:NVDA) CEO Jensen Huang suggesting the technology is decades away from practical use.

What To Know: Huang commented on the future of quantum computing at an investor event on Tuesday sending quantum stocks plunging in after-hours trading. “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 on the late side,” Huang said. “If you picked 20, I think a whole bunch of us would believe it.” Read Next: LA Wildfire Damages Could Top $52 Billion As California Faces Property Insurance Crisis Following Huang's comments, quantum stocks plummeted further on Wednesday with Rigetti Computing stock closing down 43.8%, D-Wave Quantum Inc.

(NYSE:QBTS) down 36% and IonQ shares ending the session down by 39%.

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Daily stocks & crypto headlines, free to your inbox By continuing, I agree to the Market Data Terms of Service and Privacy Statement Quantum computing stocks like Rigetti Computing, Inc. (NASDAQ:RGTI) and IonQ, Inc. (NYSE:IONQ) were clobbered Wednesday following comments from NVIDIA Corp. (NASDAQ:NVDA) CEO Jensen Huang suggesting the technology is decades away from practical use.