Rigetti Computing Inc. (RGTI) stock plummeted 5.03% in the pre-market session on Thursday, January 16, 2025, amid conflicting views from industry leaders on the timeline for practical quantum computing applications.

The quantum computing company's shares have been highly volatile in recent days, driven by diverging opinions from tech giants such as Nvidia and Microsoft regarding the potential of the technology.

On one hand, Nvidia CEO Jensen Huang expressed skepticism about the near-term potential of quantum computing, 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."

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.

Former Cisco CEO John Chambers weighed in on the debate, agreeing with Huang's assessment that quantum computing's economic returns and products are likely further out, potentially a decade away. Nevertheless, Chambers remains optimistic about the technology's long-term potential, stating, "I think it is a very important technology, but it is further out."