(Bloomberg) — Shares of IonQ Inc. and other companies linked to quantum computing plunged in extended trading Tuesday after Nvidia Corp. Chief Executive Jensen Huang said computers are likely decades away. “very useful” quantum
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“If you said 15 years for very useful quantum computers, that would probably be an early number. If you said 30, it’s probably too late,” Huang said in a Q&A session during Nvidia analyst day. “If you picked 20, I think a lot of us would believe it.”
IonQ and Quantum Computing Inc. fell more than 16% in the post-market session, while D-Wave Quantum Inc. and Rigetti Computing Inc. fell more than 14%. Shares have soared in recent months amid enthusiasm about the technology’s potential, which intensified last month following a breakthrough in quantum computing from Alphabet Inc.
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 during the same period, while D-Wave advanced almost 1,000% to $9.55 and IonQ rose more than 300% to $49.59.
Alphabet Inc., whose shares posted their best month since May 2023 in December, was down 0.3% in late trading after closing at $195.49.
–With assistance from Carmen Reinicke.
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