NVIDIA Corporation CEO Jensen Huang admitted that the application still needs time, and US quantum computing stocks plummeted in response.

In an interview, NVIDIA Corporation (NVDA.US) CEO Huang Renxun stated that it may take several decades to achieve a "very useful" quantum computer. Stocks related to quantum computing, such as IonQ Inc (IONQ.US), experienced a sharp decline in after-hours trading on Tuesday. Huang Renxun said, "If you say a very useful quantum computer can be manufactured within 15 years, it may be a bit early. If you say 30 years, it may already be late. If you say 20 years, I think many of us would believe that." IonQ and Quantum Computing (QUBT.US) both dropped by more than 16% in after-hours trading, while D-Wave Quantum (QBTS.US) and Rigetti Computing (RGTI.US) dropped by over 14%. In the past few months, these companies' stock prices have soared due to excitement over the potential of quantum computing technology. After Alphabet Inc. Class C (GOOGL.US) made a breakthrough in quantum computing technology last month, this excitement further intensified. As of Tuesday's market close, Quantum Computing's stock price has risen by over 1800% in the past 12 months to $17.49. During the same period, Rigetti has increased by over 1500%, D-Wave by nearly 1000%, and IonQ by over 300%. Alphabet Inc. Class C's stock had its best month since May 2023 in December last year. The stock dropped by 0.4% in after-hours trading on Tuesday.