Quantum computing stocks are under pressure as Rigetti Computing (NASDAQ: RGTI) fell 3.5% yesterday and dropped another 2% in premarket trading this morning. The decline comes just ahead of Nvidia’s (NASDAQ: NVDA) first-ever Quantum Day event, which is part of the AI chipmaker’s GTC AI Conference for developers in San Jose. Running throughout the week, the conference has sparked significant interest in the future of quantum technology.
Nvidia CEO’s Remarks Weigh on Quantum Sentiment
The sector is on edge as investors eagerly await comments from Nvidia CEO Jensen Huang, who previously cast doubt on the near-term viability of quantum computing. Earlier this year, Huang caused a stir by stating that the technology may not be practical for another 20 years. His previous remarks significantly dampened sentiment toward quantum stocks, leaving investors hoping for a more optimistic outlook during today’s event.
Quantum Computing’s Rollercoaster Ride
Quantum computing stocks like Rigetti have experienced dramatic swings over the past year. In 2024, RGTI stock surged 1,450%, riding the wave of excitement around the sector’s potential. However, 2025 has been a different story, with Rigetti shares plunging 35% year-to-date. Still, it hasn’t fared as poorly as some of its peers. Quantum Computing Inc. (NASDAQ: QUBT), another major player, has seen its stock plummet by 50% this year, despite having skyrocketed 1,700% in 2024.
Tech Titans Express Quantum Skepticism
Nvidia’s Huang isn’t the only tech leader expressing caution. Meta Platforms (NASDAQ: META) CEO Mark Zuckerberg also voiced skepticism about quantum computing’s immediate future. During an appearance on The Joe Rogan Experience, Zuckerberg said he believes the technology is still “quite a ways off from being a very useful paradigm.” His comments further fueled concerns that quantum breakthroughs may be further down the road than investors anticipate.
Quantum Day Sparks Temporary Gains
Despite the recent downturn, Rigetti stock is still up 13% since last Friday, as anticipation for Nvidia’s Quantum Day fueled a brief rally. Investors are hopeful that Huang’s comments today will offer a more favorable outlook, potentially reigniting interest in the sector. The event could be a pivotal moment for quantum stocks, as any indication of accelerated adoption or new partnerships could drive renewed investor enthusiasm.
Market Uncertainty Surrounds Quantum Stocks
While Nvidia’s Quantum Day is generating excitement, quantum stocks remain highly volatile. The mixed signals from industry leaders have made it difficult for investors to gauge whether the sector is on the cusp of a major breakthrough or still decades away from meaningful commercialization.
