Wave fell sharply after Nvidia’s Jensen Huang said that “very simple quantum computers” could be 20 years away.

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.

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. Nvidia (NASDAQ:NVDA) CEO Jensen Huang had some thoughts to share about the state of quantum computing,

Shares of quantum computing companies plummeted after Nvidia CEO said useful quantum computers are decades away.

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.

Throughout the current AI boom, quantum computing companies have quietly been making advancements, offering previews as to what the next phase of technology could look like. Huang

Quantum computing stocks have soared over the past few months. Nvidia CEO Jensen Huang recently commented that the technology is likely still decades away from being useful, sending quantum computing stocks plunging.

Quantum stocks started falling during afternoon trading on Friday, despite an uptick earlier in the day. Quantum Computing (NASDAQ:QUBT) shares were down 7%, Rigetti (NASDAQ:RGTI) -4.5%, Aqrqit Quantum (NASDAQ:ARQQ) -9% and D-Wave Quantum (NYSE:QBTS) -1%.