Meta CEO Mark Zuckerberg tries on Orion AR glasses at the annual Meta Connect event at the company’s headquarters in Menlo Park, Calif., on September 25, 2024.
Manuel Orbegozo | Reuters
Quantum computing shares fell on Monday after Meta Platforms CEO Mark Zuckerberg warned that the use of computers with these capabilities is still years away.
“I’m not really an expert on quantum computing, but my understanding is that it’s still pretty far from being a very useful paradigm,” he said during an appearance on Joe Rogan’s podcast on Friday, adding that many people think the technology is probably “more from decades”.
The comments reinforce recent comments from Nvidia CEO Jensen Huang suggesting that PCs are likely 15 to 30 years. The news hit quantum computing stocks, which sold off after a 2024 boom following the promising announcement of Alphabet’s Willow chip.
Rigetti shares fall as Zuckerberg says quantum computing is years away
Rigetti Computing and D-Wave Quantum fell more than 32% each on Monday, building on last week’s losses. IonQ fell almost 15 percent.
Shares of Rigetti and D-Wave rose 1,449% and 854%, respectively, in 2024 as investors rallied behind the technology as the next big thing since artificial intelligence.
Proponents say that quantum computers will have the ability to perform more complex computing tasks than ordinary computers and process large amounts of data. However, many investors are warned that it might be too soon for real-world use cases.
