D-Wave Quantum CEO Alan Baratz said Nvidia’s Jensen Huang is “dead wrong” about quantum computing after comments from the head of the chip giant spooked Wall Street on Wednesday.

Quantum computing stocks took a dive Wednesday after investors' perceptions about the outlook for the sector were dramatically corrected. Valuations in the nascent space had been

Related: Fund manager who forecast Nvidia’s rally makes surprising move after CES keynote Specifically, Huang's choice of words during a talk with analysts nuked the shares of a group of quantum computing companies.

Quantum computing stocks dropped Wednesday after Nvidia CEO Jensen Huang declared that useful quantum computers are likely decades in the future.

Recent financial results reveal the early-stage nature of D-Wave's business model. The company's core quantum computing service revenue grew 41% year over year in Q3 2024, highlighting the increasing adoption of its platform. However, total revenue declined 27% to $1.9 million due to timing variations in professional services contracts.

Shares in the ultra-hot quantum computing sector plunged on Wednesday after Nvidia's CEO said useful quantum computers were decades away. Why it matters: Quantum computing stocks have been on a ferocious run,

CEO Jensen Huang lit the entire quantum computing sector on fire last night after saying the technology won't be "very useful" for at least 15 years and maybe as many as 30 years. He may as well have poured gasoline on the industry and thrown in a lit match.

Nvidia (NVDA) chief executive Jensen Huang doesn’t think useful quantum computers will be here anytime soon — and stocks are not reacting well to it.