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.

The quantum computing rally came to an abrupt end on Wednesday following comments from Nvidia CEO Jensen Huang. During a question-and-answer session with analysts, Huang put forth a more pessimistic view of the quantum computing timeline:

Shares of leading firms nose-dive after Nvidia’s Jensen Huang suggests a generational wait for fully functional quantum tech. We’ve been told that the future is now, but it seems it’s not quite here yet—at least not for quantum computing.

Nvidia's Jensen Huang suggests quantum computers won't make a big impact in the near future, so we'll likely have to wait until 2045.

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.

Nvidia CEO Jensen Huang kicked off this year’s CES consumer electronics trade show with a slew of AI announcements, in a blockbuster address that had analysts calling the chipmaker's stock a "top pick" on its AI leadership.

The shares of IonQ Inc. and other companies linked to quantum computing tumbled in extended trading on Tuesday after Nvidia Corp. Chief Executive Officer Jensen Huang said “very useful” quantum computers are likely decades away.

Steve Sosnick, Chief Strategist at Interactive Brokers (IBKR), spoke with Quartz for the latest installment of our “Smart Investing” video series.