Quantum Computing Stocks Bounce Back After Early Week Dip, Amid Industry Doubts

Quantum computing stocks rebounded on Tuesday morning after a sharp decline earlier in the week. Rigetti Computing (RGTI) surged nearly 30%, while Quantum Computing (QUBT) and D-Wave Quantum (QBTS) saw gains of 17% and 15%, respectively. IonQ (IONQ) also experienced a slight uptick of around 2%.
However, by midday, the momentum slowed down slightly. Rigetti maintained a 13% gain, D-Wave advanced by 9%, and Quantum Computing rose by nearly 6%. On the other hand, IonQ’s shares fell by more than 2%.
Earlier in the week, the quantum sector took a hit, with both D-Wave and Rigetti seeing losses of over 25% on Monday. The drop came after Meta CEO Mark Zuckerberg expressed skepticism about the near-term potential of quantum computing. On the Joe Rogan podcast, Zuckerberg remarked that he believes the technology is still “quite a ways off” and could take a decade or more before it becomes truly useful.
Zuckerberg’s comments echoed those made by Nvidia CEO Jensen Huang at the Consumer Electronics Show, where he suggested that fully operational quantum computers could be decades away. Huang projected that it could take between 15 and 30 years for quantum computers to become highly useful, with 20 years being the most widely accepted estimate.
Huang, whose company Nvidia is a major player in the AI industry, also indicated that Nvidia would play a crucial role in the development of quantum computing, particularly in solving complex problems far beyond the capabilities of traditional computers. Following Huang’s remarks, quantum stocks took a significant hit, with D-Wave and IonQ both experiencing notable declines.
In response, D-Wave’s CEO, Alan Baratz, fired back, dismissing Huang’s comments and defending the company’s approach to quantum computing. Baratz asserted that while Huang may be correct about other companies, D-Wave’s alternative method allows it to be much closer to commercial viability, positioning the company ahead of others in the race to bring quantum computing to market.