Quantum Computing Stocks Fall After Nvidia CEO's Comments
Quantum computing stocks fell in premarket activity Wednesday after Nvidia Chief Executive Jensen Huang said that "very useful quantum computers" are likely 20 years away. Rigetti Computing shares were falling 28%, Quantum Computing dropped 30%, IonQ fell over 19%, and D-Wave Quantum was down 33%. Rigetti Computing stock plummeted 31.21% in pre-market trading on Wednesday, amidst a broader selloff in quantum computing stocks. The steep decline followed comments from Nvidia CEO Jensen Huang, who expressed skepticism about the near-term prospects of practical quantum computing applications during Nvidia's analyst day event on Tuesday. Shares of Rigetti Computing, Quantum Computing, IonQ and D-Wave are down sharply as Nvidia's Jensen Huang says 'very simple quantum computers' could be 20 years away. Quantum-computing stocks have surged in recent months, reflecting hype that's at odds with the current financial reality of these businesses, which still bring in minimal revenue. The stocks are falling hard on Wedne