Shares of quantum-computing companies that skyrocketed in 2024 collapsed by double digits Wednesday after Nvidia CEO Jensen Huang said practical uses for quantum computing were more than a decade away.

The quantum computing rally came to an abrupt end on Wednesday following comments from Nvidia CEO Jensen Huang. During a question-and-answer session with analysts, Huang put forth a more pessimistic view of the quantum computing timeline:

Shares of leading firms nose-dive after Nvidia’s Jensen Huang suggests a generational wait for fully functional quantum tech. We’ve been told that the future is now, but it seems it’s not quite here yet—at least not for quantum computing.

Nvidia's Jensen Huang suggests quantum computers won't make a big impact in the near future, so we'll likely have to wait until 2045.

Quantum computing stocks sank on Wednesday, pausing a year-long rally, after Nvidia CEO Jensen Huang said the technology's practical use was likely two decades away.

Steve Sosnick, Chief Strategist at Interactive Brokers (IBKR), spoke with Quartz for the latest installment of our “Smart Investing” video series.

CEO Jensen Huang said that “very useful quantum computers” are likely 20 years away. The commentary from the tech executive caused an immediate negative reaction in quantum computing stocks, sending popular names like IonQ (IONQ) and Rigetti Computing (RGTI) down between 40% and 50% on Jan.