Quantum Computing Inc. (QUBT) stock plummeted 12.55% in pre-market trading on Monday, reeling from doubts raised by prominent tech leaders regarding the timeline for practical quantum computing and potential curbs on advanced chip exports.
Over the weekend, Meta Platforms CEO Mark Zuckerberg echoed Nvidia CEO Jensen Huang's cautious outlook, agreeing that widespread adoption of quantum computing is still years away. Their comments triggered a selloff in quantum computing stocks like IonQ, Rigetti Computing, and QUBT on Friday.
Adding to the negative sentiment, the White House unveiled sweeping new limits on the sale of advanced AI chips by Nvidia and its peers. Chip stocks, including TSMC, AMD, and Nvidia, fell pre-market as the industry braces for potential curbs that have faced fierce opposition.
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