Quantum computing stocks show a sudden increase
Quantum computing stocks rise briefly but fall by midday. Skeptical statements by executives led to initial stock losses.
After a turbulent start to the week, quantum computing stocks experienced a spectacular surge on Tuesday morning. Rigetti Computing rose by nearly 30 percent, while Quantum Computing and D-Wave Quantum recorded gains of about 17 and 15 percent, respectively. Shares of IonQ also increased by around 2 percent. However, the upswing was not long-lasting: by midday, prices had slightly retreated. Rigetti recorded a gain of approximately 13 percent, D-Wave was at around 9 percent, and Quantum Computing at almost 6 percent. IonQ, on the other hand, fell by more than 2 percent. Monday's price declines, with losses of over 25 percent for D-Wave and Rigetti, were influenced by critical remarks from Meta CEO Mark Zuckerberg on Joe Rogan's podcast, where he questioned the near-term potential of quantum computing technology. Similar skepticism had previously been expressed by Nvidia CEO Jensen Huang at the Consumer Electronics Show, where he estimated the timeline for usable quantum computers to be 15 to 30 years. This led to a downturn in stocks, prompting D-Wave CEO Alan Baratz to speak out, emphasizing that D-Wave, through a different approach, has already been able to commercially position itself.