Shares of Rigetti Computing (RGTI, Financial) slumped more than 30% on Monday after Meta Platforms (META, Financial) CEO Mark Zuckerberg said practical applications of quantum computing are years away.
Quantum computing is 'like a decade plus out,' Mark Zuckerberg, speaking on the Joe Rogan podcast, echoed recent comments from Nvidia (NVDA, Financial) CEO Jensen Huang, who said it would be 15-30 years before the technology is ready.
That's adding to a nasty week for Rigetti, whose stock crumbled from a strong start to 2024 that saw shares jump 1,449%. Optimism about the company's potential in the quantum computing space had fueled the surge after Alphabet (GOOG, Financial) rekindled interest in the area with its Willow chip announcement.
Its promise of being able to bend to complex computational tasks beyond the limits of traditional computers has underscored scepticism from investors who are waiting for its uncertain timeline and high development costs to ensure it is worth chasing. Rigetti's plummet fits within a broader recalibration of expectations for the technology's near-term market viability.
The sell-off, however, shows that while proponents still believe that quantum computing will deliver on its transformative promise for the quantum sector, the current sell-off also demonstrates concerns about its readiness.
This article first appeared on GuruFocus.免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。