The Nvidia CEO, who made Elon Musk and Larry Ellison "beg" for more AI GPUs, argued that quantum computing remains unreliable. Huang said that “very useful quantum computers” are probably two decades down the road.

Shares of quantum-computing companies that skyrocketed in 2024 collapsed by double digits Wednesday after Nvidia CEO Jensen Huang said practical uses for quantum computing were more than a decade away.

Quantum computing stocks sank on Wednesday, pausing a year-long rally, after Nvidia CEO Jensen Huang said the technology's practical use was likely two decades away.

Quantum computing has been an up-and-down investment theme over the past few months. The rage kicked off when Alphabet ( GOOG 1.16%) ( GOOGL 1.13%) announced a breakthrough with its Willow quantum computing chip, and any stock associated with quantum computing rose on the news of the announcement.

Investors are always on the lookout for the next big thing, and following the success of AI in recent years, it’s no surprise to see stocks in

Quantum computing is still in its infancy but holds significant potential to transform industries, particularly when integrated with artificial intelligence (AI). Unlike traditional computers, which process data using bits that can be either zero or one,