Quantum computing stocks dropped Wednesday after Nvidia CEO Jensen Huang declared that useful quantum computers are likely decades in the future.

Quantum computing stocks are tumbling this morning after Nvidia (NVDA) CEO Jensen Huang contended yesterday that the technology would not be “very useful” for decades. Among the widely held names in the sector diving more than 30% are Rigetti Computing (RGTI),

Defiance Quantum ETF returned 60.4% over the last year through Jan. 3 -- just over double the S&P 500 Index's 28.1% return.

Quantum stocks like Rigetti, IonQ and D-Wave Quantum saw steep losses after Nvidia CEO Jensen Huang said quantum computers are decades away.

Also, in late November 2024, The Senate advanced the Department of Energy (DOE) Quantum Leadership Act of 2024, proposing $2.5 billion over 5 years to fuel US quantum R&D. Notably, the bipartisan bill emphasizes quantum networking, domestic manufacturing, and public-private partnerships to ramp up quantum innovation.

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. The long wait outlined by Huang for "very useful quantum computers" throws cold water on a sector that was already expected to spend millions more on the technology,

Quantum computing companies have surged recently but Nvidia CEO Jensen Huang had a disappointing message for the sector.

Quantum computing stocks dived after Nvidia CEO Jensen Huang said Tuesday night that the tech won't be "very useful" for 15-30 years.

Shares of quantum computing focused companies slumped on Wednesday, after Nvidia's (NASDAQ:NVDA) CEO Jensen Huang said that "very useful" quantum computers are over a decade away. Rigetti Computing (RGTI) fell about 35%,