Overview

• Quantum computing stocks, including Rigetti, D-Wave, and Quantum Computing Inc., saw sharp declines on Monday, with losses exceeding 25% after comments from major tech CEOs cast doubts on the technology's near-term potential.
• Meta CEO Mark Zuckerberg and Nvidia CEO Jensen Huang both suggested that practical quantum computing is likely a decade or more away, with Huang estimating a 15- to 30-year timeline for widespread utility.
• D-Wave CEO Alan Baratz refuted the skepticism, asserting that D-Wave's approach has already enabled commercial applications, setting it apart from competitors in the sector.
• Stocks partially recovered on Tuesday morning, with Rigetti up by 13%, D-Wave by 9%, and Quantum Computing Inc. by 6%, though IonQ shares continued to decline slightly.
• Despite the market volatility, companies like Nvidia and IonQ remain committed to quantum research, with Nvidia investing in quantum talent and IonQ securing a $21.1 million U.S. Air Force contract for quantum network infrastructure.