D-Wave Quantum Inc. (QBTS) shares plummeted over 12% in the pre-market session on Wednesday, as the quantum computing company got caught up in a sector-wide sell-off following bearish comments from Nvidia CEO Jensen Huang on the timeline for viable quantum computing technology.
Huang, speaking at the CES 2025 conference, remarked that truly useful quantum computers are likely 15 to 30 years away. His statement sparked a sharp decline in quantum computing stocks, with investors taking a more cautious stance on the near-term prospects of the emerging technology.
D-Wave Quantum was among the worst hit, with its shares plunging 12.25% in the 24 hours leading up to Wednesday's pre-market session. Other quantum computing players like Rigetti Computing, IonQ Inc, and Quantum Computing Inc also witnessed double-digit percentage drops, while the Defiance Quantum ETF tracking the sector slid over 2%.
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