Rigetti Computing (RGTI) stock plummeted nearly 19% in intraday trading on Monday, as the quantum computing sector faced heavy selling pressure amid increasing skepticism over the technology's near-term practical applications.
The sell-off in quantum computing stocks was triggered by comments from Meta Platforms CEO Mark Zuckerberg, who agreed with Nvidia CEO Jensen Huang's cautious outlook, stating that quantum computing remains years away from being truly practical. Zuckerberg's remarks followed Huang's statement at CES 2025 that useful quantum computers could be 15 to 30 years away, which had already sparked significant market turbulence last week.
Other quantum computing stocks also experienced sharp declines, with SEALSQ Corp (LAES) down 19%, D-Wave Quantum (QBTS) and IONQ Inc. (IONQ) down around 12%, Quantum Computing (QUBT) down 7%, and Arqit Quantum (ARQQ) down 3%. Investors seem to be reassessing the near-term prospects of these companies in light of the comments from industry leaders.
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