Nvidia CEO Jensen Huang tempers expectations in the field of quantum computing

When Jensen Huang, the CEO of Nvidia, speaks, investors listen intently. However, this time his message at CES has stirred some turmoil—particularly among those who have invested in the highly hyped quantum computing stocks. Shares of companies like Rigetti Computing, D-Wave Quantum, IONQ, and Quantum Computing came under significant pressure after Huang tempered expectations for the progress of quantum computing technology. Huang, speaking in a Q&A session with analysts at the highly watched tech conference, noted that the development of very useful quantum computers is likely not to be expected for another 15 to 30 years. Investors promptly reacted by taking profits, leading to double-digit losses in stock prices. Against this backdrop, the strong reaction of the stock markets is hardly surprising. After all, Rigetti Computing had recorded impressive price increases of 1,720% last year—driven primarily by the market launch of Alphabet's new quantum chip "Willow.