D-Wave Quantum Inc. (QBTS) stock plummeted 21.92% in the pre-market trading session on Monday, following cautious comments from tech giants about the practical implementation timeline for quantum computing.
Meta Platforms CEO Mark Zuckerberg agreed with Nvidia CEO Jensen Huang's recent statement that practical quantum computers could be 15 to 30 years away, triggering significant market turbulence in the quantum computing sector.
Speaking on Joe Rogan's podcast, Zuckerberg acknowledged his limited expertise but supported the industry consensus of a decade-long timeline for widespread quantum computing adoption. "I'm not really an expert on quantum computing, but my understanding is that it's still quite a ways off from being a truly practical paradigm," Zuckerberg said.
Quantum computing stocks saw sharp declines last week after Huang's comments, with IonQ Inc. (IONQ) falling 32%, Quantum Computing Inc. (QUBT) dropping 49%, and Rigetti Computing Inc. (RGTI) tumbling 53%. D-Wave Quantum CEO Alan Baratz strongly contested Huang's timeline, citing existing commercial applications with companies like Mastercard Inc.
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