Quantum stocks plunge after Nvidia’s Huang says the computers are 15 to 30 years away
- Quantum computing stocks fell sharply on Wednesday after Nvidia CEO Jensen Huang stated that practical use of the technology is likely 15 to 30 years away.
- Rigetti Computing and quantum computing shares dropped more than 17 percent, while IonQ and D-Wave Quantum fell 9.4 percent and 14 percent, respectively.
- Despite projected growth of the U.S. quantum computing market from $138.2 million in 2022 to $1.2 billion by 2030, practical applications remain distant.
- Jim Cramer noted that long development timelines and current market valuations are raising concerns for investors.
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Jensen Huang’s Comment on Quantum Computers Draws the Ire from Industry
A single statement from Nvidia CEO Jensen Huang during an analyst event at CES has triggered a massive selloff in the quantum computing sector, erasing approximately $8 billion in market value, according to reports. Huang suggested that bringing “very useful quantum computers” to market could take 15 to 30 years, citing the need for quantum processors, or qubits, to increase by a factor of 1 million. Quantum computing stocks crash after AI go…
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UpstractQuantum Computing Stocks Sink as Nvidia CEO Says Tech Is 15 to 30 Years Away
Several stocks across the quantum computing industry fell sharply Wednesday after Nvidia CEO Jensen Huang said the technology is likely still years away.
Good morning! Blood red for quantum computer companies on the stock market, Apple poodles, and the data for AI training may have run out.
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