Meta CEO Mark Zuckerberg tries on Orion AR glasses at the Meta Connect annual event held at the company’s headquarters in Menlo Park, California, on September 25, 2024.
Manuel Orbergozo | Reuters
Quantum computing stocks sold off on Monday after Meta Platforms CEO Mark Zuckerberg warned that computers with these capabilities would be years away.
“I’m not really an expert on quantum computing, but my understanding is that this is a long way from being a very useful paradigm,” he said on the Joe Rogan podcast released on Friday, adding that many People think this technology is likely to be “more than ten years old.”
The comments reinforce recent comments by Nvidia CEO Jensen Huang that computers could take 15 to 30 years to come out. The news hammered quantum computing stocks, which sold off after a boom in 2024 following the release of Alphabet’s promising Willow chip.
Zuckerberg says quantum computing is still years away, Rigetti shares fall
give up calculation and D wave quantum Building on last week’s losses, each stock fell more than 32% on Monday. Ion Q Plunged nearly 15%.
Shares of Rigetti and D-Wave are up 1,449% and 854% respectively in 2024, as investors rush to support the technology as the next big thing after artificial intelligence.
Proponents say quantum computers will be able to perform more complex computing tasks and process larger amounts of data than ordinary computers. However, many investors warn that this may be too early for real-world use cases.
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