Shares of quantum-computing companies that skyrocketed in 2024 collapsed by double digits Wednesday after Nvidia CEO Jensen Huang said practical uses for quantum computing were more than a decade away.

The quantum computing rally came to an abrupt end on Wednesday following comments from Nvidia CEO Jensen Huang. During a question-and-answer session with analysts, Huang put forth a more pessimistic view of the quantum computing timeline:

Nvidia CEO Jensen Huang claims quantum computing is decades away, but is it really? The quantum era isn’t decades away — it’s unfolding in real-time.

D-Wave Quantum CEO Alan Baratz said Nvidia’s Jensen Huang is “dead wrong” about quantum computing after comments from the head of the chip giant spooked Wall Street on Wednesday.

Nvidia CEO's comments on quantum computing caused a market drop, erasing $8 billion from companies like IonQ, Rigetti, and D-Wave. Huang suggested useful quantum computing may be 15-30 years away. D-Wave's CEO disagreed,

Quantum stocks like Rigetti, IonQ and D-Wave Quantum saw steep losses after Nvidia CEO Jensen Huang said quantum computers are decades away.

Huang’s comment had a ripple effect. The quantum computing companies’ stocks have witnessed a sharp decline ever since. For instance, IonQ shares fell over 31.65%, while Rigetti Computing dropped by 37.25%, and D-Wave Quantum saw its stock tumble down by 25.61% after Huang’s statement.

Quantum computing stocks sank on Wednesday, pausing a year-long rally, after Nvidia CEO Jensen Huang said the technology's practical use was likely two decades away.

Wave Quantum Inc. (NYSE: QBTS) ("D-Wave" or the "Company"), a leader in quantum computing systems, software, and services, and the world’s first commercial supplier of quantum computers, announced that CEO Dr.

Nvidia CEO Jensen Huang's remarks about the long timeline for quantum computing's commercial viability led to an $8 billion selloff in the sector. Maj