(Bloomberg) — Shares of IonQ Inc. and other companies related to quantum computing fell in extended trading on Tuesday after Chief Executive Officer Nvidia Corp. Jensen Huang said that “very useful” quantum computers are probably decades away.
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“If you said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it’s probably on the late side,” Huang said in a question-and-answer session during the day on Nvidia analyst. “If you pick 20, I think a lot of us would believe it.”
IonQ and Quantum Computing Inc. fell more than 16% in the aftermarket session while D-Wave Quantum Inc. and Rigetti Computing Inc. fall more than 14%. Shares have risen in recent months amid excitement over the technology’s potential, which was boosted last month after a quantum computing breakthrough by Alphabet Inc.
Quantum Computing shares have gained more than 1,800% in the past 12 months to $17.49 as of Tuesday’s close. Rigetti rose more than 1,500% to $18.39 over the same period while D-Wave advanced nearly 1,000% to $9.55 and IonQ more than 300% to $49.59.
Alphabet Inc., whose shares in December posted their best month since May 2023, is down 0.3% in late trading after closing at $195.49.
–With the assistance of Carmen Reinicke.
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2025-01-08 00:53:00
