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.

The quantum computing rally came to an abrupt end on Wednesday following comments from Nvidia CEO Jensen Huang. During a question-and-answer session with analysts, Huang put forth a more pessimistic view of the quantum computing timeline:

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

The shares of IonQ Inc. and other companies linked to quantum computing tumbled in extended trading on Tuesday after Nvidia Corp. Chief Executive Officer Jensen Huang said “very useful” quantum computers are likely decades away.

CEO of Nvidia Jensen Huang purportedly stated that quantum computers will take 20 years before being "very useful", causing quantum computing stock to tumble.

CEO Jensen Huang delivered a keynote speech at CES 2025, where h reminded the audience that Nvidia has opportunities beyond generative AI. Nvidia products address every layer of the autonomous vehicle computing stack,