Jensen Huang's Remarks Cause Quantum Computing Stocks to Plummet

"Commercialization of Quantum Computers Could Take 15 to 30 Years"

Quantum Computing, Rigetti, D-Wave, IonQ Drop Over 10%

Chinese Quantum Computing Companies Also Plunge

Google's quantum chip 'Willow' announced on the 9th (local time)./ Photo provided by Google

NVIDIA's CEO Jensen Huang mentioned that "truly useful quantum computers will emerge decades later," causing quantum computing stocks that surged late last year to fall.

According to Bloomberg on the 8th (local time), shares of companies related to quantum computing, including IonQ, plummeted in pre-market trading in the U.S. stock market.

During a Q&A session at NVIDIA Analyst Day, Huang responded, "Those who are optimistic see very useful quantum computers being commercialized in 15 years, while others see it taking about 30 years." He added, "Many of us would believe in about 20 years."

On this day, stocks like Quantum Computing, D-Wave Quantum, and Rigetti Computing fell nearly 10% to 14% in pre-market trading.

These quantum computing-related stocks had surged in recent months amid expectations for the potential of quantum computer technology. The excitement was further heightened when Alphabet announced innovative quantum computing technology in early December.

Quantum Computing's stock price soared over 1,800% in the past 12 months to $17.49.

Rigetti rose over 1,500% during the same period to $18.39, D-Wave climbed 1,000% to $9.55, and IonQ increased over 300% to $49.59.

Jensen Huang's remarks also impacted quantum computing companies listed in China. Stocks of China's QuantumCTek and Accellink surged.

Alphabet's stock, which had risen 12% marking the most significant monthly increase since May 2023 following the quantum computing technology announcement, fell 0.3% in pre-market trading.

Guest reporter Kim Jeong-ah kja@hankyung.com