D-Wave Quantum Inc. (QBTS) stock plummeted by a staggering 35.39% during the Wednesday trading session, as the quantum computing company got caught up in a sector-wide selloff sparked by Nvidia CEO Jensen Huang's bearish remarks on the timeline for viable quantum computing technology.
The sharp decline in D-Wave Quantum's share price was driven by Huang's comments during the CES 2025 conference, where he expressed skepticism about the near-term prospects of quantum computing. Huang stated that "very useful" quantum computers are likely decades away, commenting: "If you kind of 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. If you picked 20, I think a whole bunch of us would believe it."
Huang's pessimistic outlook on the practical applications of quantum computing in the foreseeable future triggered a broad sell-off in the sector, with investors reassessing their expectations for the emerging technology. Besides D-Wave Quantum, other quantum computing companies such as Rigetti Computing, IonQ Inc, and Quantum Computing Inc also witnessed steep declines, reflecting the market's concerns about the industry's longer-than-anticipated path to profitability and widespread adoption.
