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Barchart
Barchart
Sarah Holzmann

IonQ Stock Plunges 40%. Is the Quantum Computing Stock a Buy on the Dip?

IONQ Nvidia Jensen Huang Tempo

Speaking to analysts at CES 2025, Nvidia (NVDA) CEO Jensen Huang said that “very useful quantum computers” are likely 20 years away. The commentary from the tech executive caused an immediate negative reaction in quantum computing stocks, sending popular names like IonQ (IONQ) and Rigetti Computing (RGTI) down between 40% and 50% on Jan. 8. 

The CEO was not bashing quantum computing by any means. In fact, he says that Nvidia is continuing to invest in quantum and has partnerships with many quantum-focused firms. That list includes Rigetti, and some investors speculate that a formal partnership between IonQ and Nvidia may be just around the corner. In November 2024, IonQ demonstrated an end-to-end application workflow that combined its quantum computing tech with the Nvidia CUDA-Q platform. CUDA-Q is an open-source model from Nvidia for developing quantum applications. 

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