Stocks of quantum computing fell on Wednesday after Jensen Huang, the CEO of Nvidia, stated that practical quantum computers won’t be available for many years.
He stated at Nvidia’s analyst day that “15 years for very useful quantum computers would probably be on the early side.” “It’s likely on the late side if you said 30.” However, I think many of us would believe it if you choose 20.
To assist the industry “get there as fast as possible,” Huang stated that he thinks Nvidia will have a “very significant part” in developing the machines.
After the statements, stocks related to quantum computing fell, with IonQ losing 44% and Rigetti Computing falling 47%.
Over 44% of D-Wave Quantum’s value was lost, and 5% of the Defiance Quantum & AI ETF. Quantum Computing saw a 47% decline after announcing a public offering to generate $100 million.
AXS Investments CEO Greg Bassuk described the response as “overblown” and stated, “We’re not surprised by today’s correction, as valuations have become a bit lofty.”
Source (CNBC)
