Rigetti Computing Inc. (RGTI) stock surged 12.55% in Thursday's trading session, outperforming the broader market rally. The quantum computing company's share price spike came after a reality check from Nvidia's CEO Jensen Huang on the practical application timeline for quantum computing technology.
During a recent industry event, Huang cautioned that the widespread adoption and practical use of quantum computing is still likely 20 years away. This statement from the influential tech leader cast doubts on the near-term commercial viability of quantum computing, an emerging field that has captivated investors with its potential for revolutionary breakthroughs.
Huang's comments appeared to reset market expectations for quantum computing companies like Rigetti, which had seen its stock price soar in recent months amid heightened investor enthusiasm. The Nvidia CEO's perspective, grounded in a realistic assessment of the technological challenges, served as a wake-up call for investors who may have overvalued the prospects of quantum computing firms in the current market landscape.
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