Quantum Computing Stocks Sink as Nvidia CEO Says Tech Is 15 to 30 Years Away

Industry Overview - Quantum computing stocks, including Rigetti Computing (RGTI), D-Wave Quantum (QBTS), IonQ (IONQ), and Quantum Computing (QUBT), experienced sharp declines following comments from Nvidia (NVDA) CEO Jensen Huang, who stated that "very useful quantum computers" are likely 15 to 30 years away [1][2][4] - The Defiance Quantum (QTUM) ETF, which includes these companies along with other chip and tech firms like Nvidia, fell by 4.5% [2] Stock Performance - Rigetti Computing (RGTI) declined by 48.82%, with a trading volume of 34.35K [6] - D-Wave Quantum (QBTS) dropped by 38.98% [6] - IonQ (IONQ) fell by 42.37% [6] - Quantum Computing (QUBT) decreased by 42.47% [6] CEO Comments - Nvidia CEO Jensen Huang emphasized that quantum computing technology is still in its early stages, estimating that "very useful quantum computers" could take 15 to 30 years to develop [2][4] - Huang highlighted Nvidia's role as an ideal partner for quantum computing companies, noting that classical computers, like those Nvidia produces, are essential for error correction in quantum systems [2] Recent Developments - The quantum computing sector had a strong end to 2024, driven by Alphabet's (GOOGL) announcement of a breakthrough quantum computing chip called Willow [3]