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Quantum computing stocks slide as Meta’s Zuckerberg expresses doubts over outlook

by January 14, 2025
written by January 14, 2025

Investing.com– Quantum (NASDAQ:QMCO) computing stocks slid on Monday and steadied in aftermarket trade as Meta (NASDAQ:META) CEO Mark Zuckerberg joined Nvidia’s Jensen Huang in questioning just how soon the technology could be viable.

Shares of Quantum Computing Inc (NASDAQ:QUBT), Rigetti Computing Inc (NASDAQ:RGTI) Computing Inc (NASDAQ:RGTI), QuantumSi Inc (NASDAQ:QSI), IONQ Inc (NYSE:IONQ), and D Wave Quantum Inc (NYSE:QBTS) rose marginally in aftermarket trade after tumbling between 13% and 34% during Monday’s session. 

The sector saw extended losses after Zuckerberg, speaking on the Joe Rogan Show podcast, said quantum computing was at least over a decade away from becoming useful. 

Zuckerberg’s comments followed similar comments from NVIDIA Corporation (NASDAQ:NVDA) CEO Huang, who said the technology was at least 15 years away from being viable. His comments also triggered steep losses in quantum stocks last week.

Quantum computing technology- which manipulates quantum phenomena to carry out complex computational tasks- came into increased focus over the past month, after Google (NASDAQ:GOOGL) claimed to have made a major breakthrough in the technology. This spurred heightened bets that breakthroughs in quantum computing could severely disrupt the computer industry and spark a new wave of growth in technology investment. 

But Google had also warned that despite the breakthrough, the technology was nowhere close to being commercially viable. 

This post appeared first on investing.com
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