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Quantum Computing Inc. (QUBT) saw a significant decline of -8.38% on Friday, January 10, 2025, as of 2:21 PM, trading at $9.08 per share. This drop follows comments made by Nvidia CEO Jensen Huang, who predicted that quantum computing will not be truly viable for another 20 years. Huang’s statement caused widespread concern in the quantum computing sector, leading stocks like QUBT, along with others such as Rigetti Computing and D-Wave Quantum, to plunge by over 40%, collectively losing more than $8 billion in market value.
Huang’s remarks, made earlier this week, suggested that quantum computing’s usefulness may still be two decades away, despite recent advancements in the field. While there has been notable progress, such as D-Wave quantum computers cracking military-grade encryption and Google’s Willow chip breaking records, Huang’s statement has fueled skepticism about the near-term potential of quantum technology.
Despite the progress being made in quantum computing, including breakthroughs in solving complex computational tasks, experts like Ivana Delevska from Spear Invest agree with Huang’s cautious timeline, highlighting that similar advancements in computing took decades to develop.
Disclaimer: This article is for informational purposes only and does not provide financial or investment advice.