(Bloomberg) — Shares of IonQ Inc. fell. and other companies associated with quantum computing in extended trading on Tuesday after the CEO of Nvidia Corp. Jensen Huang said that “very useful” quantum computers are likely decades away.
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“If you were to say 15 years for really useful quantum computers, that would probably be on the early side. If you said 30, it's probably on the late side,” Huang said in a question-and-answer session during Nvidia's analyst day. “If you picked 20, I think a whole bunch of us would believe it.”
IonQ and Quantum Computing Inc. dropped. more than 16% in the after-market session while D-Wave Quantum Inc. fell. and Rigetti Computing Inc. more than 14%. The stocks have soared in recent months amid excitement about the technology's potential, which was exacerbated last month by Alphabet Inc's quantum computing development.
Quantum Computing shares had gained more than 1,800% over the past 12 months to $17.49 through Tuesday's close. Rigetti rose more than 1,500% to $18.39 over the same span while D-Wave moved nearly 1,000% to $9.55 and IonQ more than 300% to $49.59.
Alphabet Inc., whose December shares posted their best month since May 2023, is down 0.3% in late trading after closing at $195.49.
–With the help of Carmen Reinicke.
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