Artificial intelligence (AI) could be the greatest game-changing technology ever. However, some believe quantum computing will be even bigger than AI.
Shares of Quantum Computing Inc. (QUBT -43.34%) soared 1,713% last year, according to data from S&P Global Market Intelligence. As the name suggests, this is a quantum computing start-up that has benefited from the major run in this industry niche in the latter half of 2024.
The carnage in quantum computing stocks Wednesday saw shares of Rigetti Computing (NASDAQ:RGTI), Quantum Computing (NASDAQ:QUBT), and IonQ (NASDAQ:IONQ) plunge 40% or more.
Quantum computing stocks have been on fire over the past few months, but that all changed on Wednesday after Nvidia (NVDA -0.02%) CEO Jensen Huang said it will be 15 to 30 years before quantum computing is "very useful." In the video below, Travis Hoium shows why the drop in stocks may continue.
We've been told that the future is now, but it seems it's not quite here yet—at least not for quantum computing.
Of all the futuristic technologies being explored by big technology companies and start-ups, quantum computing is one of the most exciting. There are some types of computational problems that are simply impossible for even the world's most powerful supercomputer to solve.
Hauppauge, NY, January 8, 2025 – PRISM MediaWire – AmpliTech Group, Inc.
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.