IonQ's stock is experiencing a significant decline today, primarily driven by comments from Nvidia's CEO, Jensen Huang, who expressed skepticism about the near-term viability of quantum computing. During Nvidia's analyst day, Huang suggested that "very useful" quantum computers might be 15 to 30 years away from realization. This statement has cast doubt on the immediate commercial potential of quantum computing, leading to a sharp sell-off in stocks within the sector, including IonQ. The broader market sentiment has been affected, as investors reassess the timeline for quantum computing's practical applications.
Additionally, the rising yields in the U.S. are creating a challenging environment for high-growth tech stocks, further exacerbating the pressure on IonQ's share price. The combination of Huang's comments and macroeconomic factors has contributed to a volatile trading session for IonQ and its peers in the quantum computing space.
IonQ's stock is currently trading at $31.52, down 36.44% from its previous close of $49.59, and has dropped 18.66% from its opening price of $38.75.