By Adam Clark

Is quantum computing the next big thing after artificial intelligence?Probably not, according to Nvidia CEO Jensen Huang whose comments playing down the technology hit stocks in the sector on Wednesday.

IonQ, Rigetti Computing, D-Wave Quantum and Quantum Computing were all dropping after Huang said late on Tuesday that he didn't expect the technology to be in widespread use for decades.

"If you kind of said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it's probably on the late side," Huang said in a Q&A session during Nvidia's analyst day event. "If you picked 20, I think a whole bunch of us would believe it."

IonQ stock was down 9.3% in premarket trading, Rigetti was falling 18%, Quantum Computing skidded 17% and D-Wave Quantum lost 15%.

The stocks were among those which surged after Google-parent Alphabet announced its new quantum-computing chip Willow in early December.

Quantum computing harnesses the principles of quantum mechanics to solve complex problems much more quickly than traditional computers. However, as Barron's has previously written, smaller companies developing the technology are unlikely to generate significant revenue for years to come.

Write to Adam Clark at adam.clark@barrons.com

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January 08, 2025 06:07 ET (11:07 GMT)

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