Quantum computing stocks sell-off accelerates as Zuckerberg becomes latest tech CEO to temper sector enthusiasm

Quantum computing stocks sell-off accelerates as Zuckerberg becomes latest tech CEO to temper sector enthusiasm


Meta CEO Mark Zuckerberg tries on Orion AR glasses at the Meta Connect annual event at the company’s headquarters in Menlo Park, California, on Sept. 25, 2024.

Manuel Orbegozo | Reuters

Quantum computing stocks sold off Monday after Meta Platforms CEO Mark Zuckerberg cautioned that uses for computers with these capabilities remain years away.

“I’m not really an expert on quantum computing, but my understanding is that’s still quite a ways off from being a very useful paradigm,” he said during an appearance on Joe Rogan’s podcast published Friday, adding that many people think the technology is likely a “decade plus out.”

The comments reinforce recent commentary from Nvidia CEO Jensen Huang that suggested that the computers are likely 15 to 30 years away. The news battered quantum computing stocks that have sold off following a booming 2024 on the heels of Alphabet’s promising Willow chip announcement.

Stock Chart IconStock chart icon

hide content

Rigetti shares fall as Zuckerberg says quantum computing is years away

Rigetti Computing and D-Wave Quantum tanked more than 32% each on Monday, building on last week’s losses. IonQ slumped nearly 15%.

Shares of Rigetti and D-Wave rallied 1,449% and 854%, respectively, in 2024 as investors rallied behind the technology as the next big thing since artificial intelligence .

Proponents say quantum computers will have the ability to perform more intricate computing tasks relative to regular computers and process greats amounts of data. However, many investors have warned that it may be too soon for real-world use cases.

Don’t miss these insights from CNBC PRO



Source

Google shares rise on report of Apple using Gemini for Siri
World

Google shares rise on report of Apple using Gemini for Siri

Google CEO Sundar Pichai gestures to the crowd during Google’s annual I/O developers conference in Mountain View, California on May 20, 2025. Camille Cohen | Afp | Getty Images Alphabet shares rose on a Friday report that Apple is in early discussions to use Google’s Gemini AI models for an updated version of the iPhone […]

Read More
Meta set to unveil first consumer-ready smart glasses with a display, wristband next month
World

Meta set to unveil first consumer-ready smart glasses with a display, wristband next month

Meta CEO Mark Zuckerberg makes a keynote speech at the Meta Connect annual event at the company’s headquarters in Menlo Park, Calif., on Sept. 25, 2024. Manuel Orbegozo | Reuters Meta is planning to use its annual Connect conference next month to announce a deeper push into smart glasses, including the launch of the company’s […]

Read More
Where this BlackRock fund manager is finding pockets of opportunity in high-yield bonds
World

Where this BlackRock fund manager is finding pockets of opportunity in high-yield bonds

BlackRock’s Mitchell Garfin is still finding areas of opportunity in a high-yield bond market that looks expensive. Some investors, like Pimco chief investment officer Dan Ivascyn , have been moving into higher-quality bonds amid economic uncertainty and what they see as the lack of reward for taking on risk. “I’m not too concerned about the […]

Read More