Shares of Quantum Computing Inc. (QUBT) plummeted by 5.28% on Thursday morning, as the quantum computing sector faced a sell-off driven by cautious comments from Nvidia's CEO Jensen Huang regarding the timeline for achieving "useful quantum computers".
During a panel discussion at the CES conference, Huang asserted that quantum computing technology could be 20 years away from becoming "very useful". He stated that while 15 years would likely be on the early side, 30 years could be on the late side, suggesting a 20-year timeline as a reasonable estimate.
Huang's comments appear to have dampened investor enthusiasm for the near-term prospects of quantum computing companies like QUBT. Despite a recent surge in the stock prices of quantum computing firms, these companies are still in the early stages of development and face significant challenges in commercializing their technologies.
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