Quantum Stocks See Reckoning as Nvidia Comments Spark Whiplash
- Nvidia CEO warned that useful quantum tech remains years away
- Quantum computing stocks saw huge gains at the end of 2024
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One of Wall Street’s most speculative trades just had some of the froth wiped out in dramatic fashion. The outlook is looking murky from here onwards.
Quantum computing stocks — some of which soared more than 1,000% last year — have tumbled after Nvidia Corp.’s chief executive officer last week said that strong use cases for the technology are probably more than a decade away. The reckoning was the latest sign that the euphoria had become overblown, after some in the sector lost more than half their value in recent trading days.