Shares of leading firms nose-dive after Nvidia’s Jensen Huang suggests a generational wait for fully functional quantum tech. We’ve been told that the future is now, but it seems it’s not quite here yet—at least not for quantum computing.

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.

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.

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

Investors and traders will take their cue from the round numbers. The stock is likely to break back below $10 followed by a decline to $7.50 and then possibly $5. Each of these price levels will see investors and traders step in to “Buy the Dip” on the way down.

Quantum computing stocks like IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing were each down by more than a whopping 40% after Nvidia chief Jensen Huang’s comments that he did not expect quantum computers to be a reality any time soon.