Nvidia CEO's Quantum Computing Forecast Sends Stock Prices Plummeting
Nvidia CEO Jensen Huang's recent comments about the long road ahead for quantum computing have caused significant declines in related stock prices. During an analyst event at CES, Huang suggested that truly useful quantum computers might still be 15 to 30 years away, a sobering forecast that rattled investors.
Shares of quantum computing firms, including Rigetti Computing, D-Wave Quantum, and IonQ, saw sharp declines of over 40% after Huang's remarks, which starkly contrasted with the previous optimism spurred by Google's recent announcements related to quantum technology.
Despite the excitement following Google's unveiling of the Willow quantum chip, Huang's statement served as a reality check for an industry that investors had hoped would provide quick returns. The market's impatience for immediate innovation contrasts sharply with the lengthy developmental timeline Huang suggested, indicating a potential pullback from investments in quantum technologies.
As Nvidia continues to play a crucial role in the advancement of AI and quantum computing, analysts will be watching closely to see how the company navigates these challenging expectations within the tech landscape.
Weekly Newsletter
News summary by melangenews