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Meta CEO Mark Zuckerberg tries on Orion AR glasses at the annual Meta Connect event at the company’s headquarters in Menlo Park, California on September 25, 2024.
Manuel Arbegozo | Reuters
Quantum computing shares sold off on Monday after Meta Platforms CEO Mark Zuckerberg warned that the use of computers with such capabilities is years away.
“I’m not really an expert on quantum computing, but my understanding is that it’s still far from a very useful paradigm,” he said during an appearance on Joe Rogan’s podcast on Friday, adding that many people think the technology most likely “a decade and more”.
The comments back up recent comments from Nvidia CEO Jensen Huang, who suggested that computers are likely to From 15 to 30 years. The news crushed quantum computing stocks, which had sold off after a 2024 rally following the announcement of Alphabet’s promising Willow chip.
Rigetti shares fall as Zuckerberg says quantum computing is years away
Discards calculations and D-Wave Quantum fell more than 32% each on Monday, building on last week’s losses. IonQ decreased by almost 15%.
Shares of Rigetti and D-Wave are up 1,449% and 854%, respectively, in 2024 as investors rally behind the technology as the next big thing since artificial intelligence.
Proponents say that quantum computers will be able to perform more complex computational tasks than conventional computers and process large amounts of data. However, many investors are warned that it might be too soon for real use cases.
