The shares of IonQ Inc. and other companies linked to quantum computing tumbled in extended trading on Tuesday after Nvidia Corp. Chief Executive Officer Jensen Huang said “very useful” quantum computers are likely decades away.

Quantum computing stocks dived after Nvidia CEO Jensen Huang said Tuesday night that the tech won't be "very useful" for 15-30 years.

A highly advanced type of computing based upon the principles of quantum mechanics, quantum computing could spark the next tech sector gold rush for investors in 2025. Related: Ve

Also, in late November 2024, The Senate advanced the Department of Energy (DOE) Quantum Leadership Act of 2024, proposing $2.5 billion over 5 years to fuel US quantum R&D. Notably, the bipartisan bill emphasizes quantum networking, domestic manufacturing, and public-private partnerships to ramp up quantum innovation.

Nvidia collaborates with nearly every quantum computing company worldwide, extending their CUDA platform to quantum applications

Defiance Quantum ETF returned 60.4% over the last year through Jan. 3 -- just over double the S&P 500 Index's 28.1% return.

Quantum computing made significant strides in 2024, but it's yet to demonstrate a practical advantage over classical digital computers, according to a recent trends report released by Forrester Research.

Investing.com-- Shares of quantum computing firms fell in aftermarket trading on Tuesday after comments from NVIDIA (NASDAQ: NVDA) CEO Jensen Huang suggested that the technology was decades away from being useful.