Quantum computing stocks experienced a notable rebound during January 14 morning trading, following a sharp decline earlier. Rigetti Computing (RGTI) saw a surge of nearly 30%, while Quantum Computing (QUBT) and D-Wave Quantum (QBTS) saw increases of approximately 17% and 15%, respectively. IonQ (IONQ) also saw a modest uptick of about 2%.
However, the gains were tempered by a slight pullback around noon. Rigetti’s stock was up by around 13%, D-Wave’s by about 9%, and Quantum Computing’s by nearly 6%, while IonQ’s shares dropped by more than 2%.
The early rally followed a significant slump in quantum computing stocks on January 13. Both D-Wave and Rigetti saw their shares plummet by more than 25% during mid-day trading, largely due to comments made by Meta (META) CEO Mark Zuckerberg. Speaking on the Joe Rogan Experience podcast, which aired Friday, Zuckerberg expressed skepticism about the immediate potential of quantum computing, stating that the technology’s usefulness is “a decade-plus out.”
“I’m not really an expert on quantum computing — my understanding is that it’s still quite a ways off from being a very useful paradigm,” Zuckerberg remarked, which weighed heavily on investor sentiment.
Following Zuckerberg’s comments, Quantum Computing shares dropped by approximately 23%, and IonQ saw a decline of more than 12% during midday trading on January 13.
This was not the first blow for quantum computing stocks. Shares also fell sharply after Nvidia (NVDA) CEO Jensen Huang made similar comments, suggesting that quantum computing’s practical applications were decades away. Huang remarked during Nvidia’s financial analyst day at the Consumer Electronics Show that while useful quantum computers might arrive in 15 years, it was more likely they would take 20 to 30 years to develop.
Huang, whose company plays a pivotal role in the artificial intelligence sector, emphasized that quantum computers would eventually be capable of solving problems in minutes that would take traditional computers thousands of years to process.
In response to Huang’s comments, D-Wave CEO Alan Baratz issued a rebuttal, asserting that Huang had misunderstood the field of quantum computing. “While he might be right about other quantum companies, he is dead wrong about D-Wave,” Baratz stated in a statement to Quartz. “D-Wave has taken a different approach, allowing us to become commercial today and likely years ahead of other quantum computing companies.”
Despite the fluctuating stock movements, the debate around the timeline for quantum computing’s mainstream impact continues to shape the market’s outlook on the sector.
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