Quantum computing stocks are tumbling after Nvidia CEO Jensen Huang warned that the technology is a long way off.

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:

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.

Rigetti Computing, IonQ, and other quantum stocks plunged after Nvidia CEO Jensen Huang told Wall Street analysts that “very useful quantum computers” are likely 20 years away.

Wave fell sharply after Nvidia’s Jensen Huang said that “very simple quantum computers” could be 20 years away.

Quantum computing has received some recent investing interest over the past month thanks to Google's breakthrough in its Willow quantum computing chip. Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) is a much larger business with investments in quantum computing,

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,

Steve Sosnick, Chief Strategist at Interactive Brokers (IBKR), spoke with Quartz for the latest installment of our “Smart Investing” video series.