Quantum computing stocks took a dive Wednesday after investors' perceptions about the outlook for the sector were dramatically corrected.
Several stocks across the quantum computing industry, including Rigetti Computing (RGTI), D-Wave Quantum (QBTS), IonQ (IONQ), and Quantum Computing (QUBT), fell sharply Wednesday following comments from Nvidia (NVDA) CEO Jensen Huang about the technology.
An analyst with a buy rating on IonQ stock criticized Nvidia CEO Jensen Huang's quantum computing comments as "self serving." The post Quantum Computing Poses 'Existential Threat' To Nvidia, Says Analyst appeared first on Investor's Business Daily.
Thanks for nothing, Nvidia (NASDAQ:NVDA).
It wasn't just the CES 2025 buzz that rattled quantum stocks this week — a dose of cold water came from none other than Nvidia Corp‘s CEO Jensen Huang.
Quantum computing stocks were all the rage at the end of 2024, but just one week into January they're taking a turn.
Quantum computing stocks plunged on Tuesday following comments from Nvidia Corp (NASDAQ:NVDA, ETR:NVD) CEO Jensen Huang who suggested the technology is still decades away. During an investor conference, Huang suggested that quantum computing may still be 15 to 30 years away from being “very useful”, dampening investor enthusiasm across the sector.
Quantum computing stocks saw huge interest from investors and Benzinga readers in 2024, with several ranking among the most-searched tickers on Benzinga Pro in 2024.
Companies like Rigetti Computing (RGTI), IONQ Inc. (IONQ) and Quantum Computing (QUBT) sunk as much as 30% in the premarket. The selling action comes from Nvidia (NVDA) CEO Jensen Huang saying the tech could be 15 to 30 years away.
Shares of Rigetti Computing, Quantum Computing, IonQ and D-Wave were down sharply after Nvidia's Jensen Huang said that “very simple quantum computers” could be 20 years away.
U.S. stock futures were slightly lower this morning, with the Dow futures falling around 0.1% on Wednesday.
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.