Nvidia CEO Jensen Huang has expressed skepticism about the timeline for widespread adoption of quantum computing, stating that useful computers are likely 15-30 years away. This sentiment sent shockwaves through the sector, with stocks tied to quantum computing plummeting.
Rigetti Computing dropped 40% after Huang’s comments, while IonQ fell 37%. D-Wave Quantum also saw a significant decline, more than 30%, and the Defiance Quantum & AI ETF shed 4%. Quantum Computing shares sank 37%.
Analysts had expected a boost from Google’s recent revelation of its Willow chip, which performed better in reducing errors compared to its predecessor. However, many investors remain cautious about the sector’s potential for widespread adoption.
Supporters argue that quantum computing has the potential to perform tasks and process data that regular computers cannot, but others caution that it may be too early to determine winners and real-world use cases.
Source: https://www.cnbc.com/2025/01/08/quantum-stocks-like-rigetti-plunge-after-nvidias-huang-says-the-computers-are-15-to-30-years-away.html