Quick access to main page (top) Direct access to main contents Quick access to main page (bottom)

Quantum Dreams Shattered: Stocks Plunge as NVIDIA’s CEO Talks 20-Year Wait

Daniel Kim Views  

Reuters·Yonhap
Reuters·Yonhap

Quantum computing companies such as Rigetti, Quantum Computing Inc., IonQ, Silq, and D-Wave experienced significant stock drops on Wednesday. The market tumble was triggered by NVIDIA CEO Jensen Huang’s assertion that practical quantum computing remains a distant goal. During NVIDIA’s Analyst Day, Huang stated, “If you said 15 years for very useful quantum computers, that would probably be on the early side.” He added, “If you said 30, it’s probably on the late side. But if you picked 20, I think a whole bunch of us would believe it.”

Huang also emphasized that NVIDIA will play a crucial role in developing quantum computers and would strive to help the industry achieve practical applications, but acknowledged that commercialization remains a long way off. Experts now predict that quantum computers will become a reality within 15 to 30 years, with 20 years being the most likely timeline.

Rigetti’s stock plummeted 49% to $9.31, while Quantum Computing Inc.’s stock nosedived 49% to $8.88. Silq’s shares dropped 37% to $4.49, and IonQ crashed 45% to $27. Last year, IonQ soared 237%, while Rigetti and Quantum Computing Inc.’s stock skyrocketed by 1,449% and 1,712%, respectively.

The quantum computing sector gained momentum last year when IonQ secured a contract with the U.S. Department of Defense, and Google, under Alphabet, achieved significant technological breakthroughs.

Google’s latest Willow semiconductor, unveiled last year, demonstrated improved performance with fewer errors than its 2019 quantum computing chip.

Investors have been particularly bullish on quantum computing, viewing it as the next major tech frontier following the artificial intelligence boom, which OpenAI’s ChatGPT-3 kicked off in late 2022.

While quantum computers lag behind traditional computers in simple calculations, they show remarkable potential in specific areas like cryptography. Their ability to use quantum superposition for code-breaking has raised concerns about the future viability of existing encryption systems.

Daniel Kim
content@viewusglobal.com

Comments0

300

Comments0

[BUSINESS] Latest Stories

  • Honda's NSX Returns: A 1,000-Horsepower Electric Rival to Lexus LFR
  • Honda’s S7 Electric SUV: A Major Player in the Race for EV Dominance
  • Lamborghini's First EV: A 2,000-Horsepower Beast Built for Speed and Emotion
  • Ford Revives Classic Design with the 2025 Bronco Heritage Edition
  • ID.EVERY1: Volkswagen's $21K Electric Vehicle Aims to Make Green Driving Accessible
  • Toyota’s bZ3X SUV Surges with 10,000 Pre-Orders: A New Era in EVs

You May Also Like

  • 1
    Spring Is Here, So Why Are You Exhausted and Anxious?

    LIFESTYLE 

  • 2
    Why Cancer Risk Soars After a Type 2 Diabetes Diagnosis—Even Without Obesity

    LIFESTYLE 

  • 3
    Dark Red vs. Bright Red: How to Spot Colon Cancer Early

    LIFESTYLE 

  • 4
    Is 'Bad' Cholesterol Messing with Your Brain? New Study Says Yes

    LIFESTYLE 

  • 5
    New Study Finds Coffee Supercharges Good Gut Bacteria — Even Decaf

    LIFESTYLE 

Popular Now

  • 1
    Powder, Liquid, or Bar? Here's the Best Protein for Your Fitness Goals

    LIFESTYLE&nbsp

  • 2
    Your Pillow Is 17 Times Dirtier Than a Toilet Seat—the Gross Truth

    LIFESTYLE&nbsp

  • 3
    Your Blood Pressure Could Be a Time Bomb—Here’s What You Need to Know

    LIFESTYLE&nbsp

  • 4
    North Korea’s Health Bible? 10 Ways to Fight Aging—According to State Media

    LIFESTYLE&nbsp

  • 5
    Is It Allergies or Sleep Apnea? What Sudden Snoring Could Really Mean

    LIFESTYLE&nbsp

Must-Reads

  • 1
    Spring Is Here, So Why Are You Exhausted and Anxious?

    LIFESTYLE 

  • 2
    Why Cancer Risk Soars After a Type 2 Diabetes Diagnosis—Even Without Obesity

    LIFESTYLE 

  • 3
    Dark Red vs. Bright Red: How to Spot Colon Cancer Early

    LIFESTYLE 

  • 4
    Is 'Bad' Cholesterol Messing with Your Brain? New Study Says Yes

    LIFESTYLE 

  • 5
    New Study Finds Coffee Supercharges Good Gut Bacteria — Even Decaf

    LIFESTYLE 

Popular Now

  • 1
    Powder, Liquid, or Bar? Here's the Best Protein for Your Fitness Goals

    LIFESTYLE 

  • 2
    Your Pillow Is 17 Times Dirtier Than a Toilet Seat—the Gross Truth

    LIFESTYLE 

  • 3
    Your Blood Pressure Could Be a Time Bomb—Here’s What You Need to Know

    LIFESTYLE 

  • 4
    North Korea’s Health Bible? 10 Ways to Fight Aging—According to State Media

    LIFESTYLE 

  • 5
    Is It Allergies or Sleep Apnea? What Sudden Snoring Could Really Mean

    LIFESTYLE