RGTI every day
Quantum computing stocks are taking a hit today after Nvidia CEO Jensen Huang gave a favorable assessment of the technology's timeline, saying that quantum computing applications are still “many years away” from commercial operation.
Individual quant names are seeing declines, with several suffering their worst one-day losses ever:
Rigetti Computing fell 41.5% IonQ fell 45% Quantum Computing fell 47% D-Wave Quantum fell 46% Quantum Corp fell 26.6%.
The sale reflects the speculative nature of quantum computing investments, with many companies yet to generate meaningful revenue. Huang's comments carry particular weight given Nvidia's dominance of the AI chip market and deep expertise in advanced computing technologies.
The quantum computing category has turned into a meme in recent months amid growing excitement about quantum's potential applications in encryption, drug discovery, and financial modeling. However, today's reality check is a warning for meme stocks.
