The drop in stocks came after Nvidia CEO Jensen Huang's Q&A with analysts at CES in Las Vegas. When answering a question about the future of quantum computing, he said the timeline may be between 15 and 30 years until there is "very useful" quantum computers. This is the relevant quote from Huang:

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them. Nvidia (NASDAQ:NVDA) CEO Jensen Huang had some thoughts to share about the state of quantum computing,

Investors and traders will take their cue from the round numbers. The stock is likely to break back below $10 followed by a decline to $7.50 and then possibly $5. Each of these price levels will see investors and traders step in to “Buy the Dip” on the way down.

Quantum computing stocks took a dive Wednesday after investors' perceptions about the outlook for the sector were dramatically corrected. Valuations in the nascent space had been

Also, in late November 2024, The Senate advanced the Department of Energy (DOE) Quantum Leadership Act of 2024, proposing $2.5 billion over 5 years to fuel US quantum R&D. Notably, the bipartisan bill emphasizes quantum networking, domestic manufacturing, and public-private partnerships to ramp up quantum innovation.