IONQ Inc.'s stock experienced a sharp decline in pre-market trading on Wednesday, plunging 23.54%. This plummet was triggered by cautious remarks from Nvidia CEO Jensen Huang, who cast doubt on the near-term viability of quantum computing technology during Nvidia's analyst day event.
During the event on Tuesday, Huang suggested that achieving "very useful quantum computers" is likely 15 to 30 years away, with a median estimate of around 20 years. He stated, "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 comments dampened investor sentiment, leading to a sell-off in quantum computing stocks. In addition to IONQ's plunge, other quantum computing companies like Rigetti Computing, Quantum Computing Inc., and D-Wave Quantum also experienced significant declines in pre-market trading, with some stocks dropping as much as 30%.
