Quantum Computing Stocks Sink as Nvidia CEO Says Tech Is 15 to 30 Years Away | Global News Avenue

Multiple stocks spread across Quantum computing Industries, including Rigetti Computing (RGTI), D wave quantum (QBTS), ion Q (IonQ), and Quantum computing (Quantum BT), which fell sharply on Wednesday following comments from Nvidia (NVDA) CEO Jensen Huang on the technology.

Huang said at an analyst event on Tuesday that “very useful quantum computers” that could make many computing tasks more efficient could take 15 to 30 years to be achieved.

‘Very useful’ quantum computers could emerge in 15 to 30 years

“If you think a very useful quantum computer will take 15 years, that’s probably too early,” Huang said. “If you say, you know, 30, that’s probably a little late. But if you say 20, I think a lot of us would believe it.”

Huang also said that Nvidia is an ideal partner for quantum computing companies because “it turns out that you need a classical computer to do error correction with a quantum computer, and a classical computer would ideally be the fastest computer that humans can build, and this It happens to be us.”

D-Wave Quantum was down 33% on Wednesday afternoon, while Rigetti, IonQ and Quantum were all down around 40%. Challenge Quantum (quantity) Exchange Traded Funds (ETFs)Shares of the company, which consists of publicly traded companies as well as other chip and technology companies such as Nvidia, fell 4.5%.

These stocks ended 2024 with a massive bull run following Google parent Alphabet (Google) revealed last month The tech giant says it has achieved a major breakthrough with a quantum computing chip called Willow.