Rigetti Computing Inc. (RGTI) stock plummeted 5.11% in the pre-market session on Thursday, January 16, 2025, as conflicting opinions from industry leaders sparked uncertainty about the near-term potential of quantum computing technology.
The company's shares have experienced heightened volatility recently, driven by diverging views from tech giants like Nvidia and Microsoft regarding the timeline for practical applications of quantum computing.
On one side, Nvidia CEO Jensen Huang expressed skepticism, stating that "very useful quantum computers are still a few decades away." This sentiment was echoed by Meta Platforms CEO Mark Zuckerberg, who acknowledged that quantum computing is "quite a ways off from being a truly practical paradigm." Former Cisco CEO John Chambers agreed with Huang's assessment, suggesting that the technology's economic returns and products are likely further out, potentially a decade away.
However, Nvidia's announcement of its upcoming Quantum Day event, featuring discussions with quantum computing companies like Rigetti and D-Wave, reignited enthusiasm in the sector. Additionally, Microsoft released a blog post urging businesses to become "Quantum-Ready" in 2025, fueling speculation about potential breakthroughs and applications.
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