Jensen Huang founded accelerated computing company Nvidia (NASDAQ: NVDA) in 1993, and has served as the CEO and president ever since. Nvidia has achieved many breakthroughs under his leadership, but the invention of the graphics processing unit (GPU) in 1999 was particularly momentous.

Shares of quantum-computing companies that skyrocketed in 2024 collapsed by double digits Wednesday after Nvidia CEO Jensen Huang said practical uses for quantum computing were more than a decade away.

Shares of chipmaker Nvidia (NASDAQ: NVDA) have soared more than 2,400% in just the past five years. The stock has proven to be a growth machine due to advancements in artificial intelligence (AI) and the importance the company's chips play in next-gen technologies.

Quantum computing stocks sank on Wednesday, pausing a year-long rally, after Nvidia CEO Jensen Huang said the technology's practical use was likely two decades away. The long wait outlined by Huang for "very useful quantum computers" throws cold water on a sector that was already expected to spend millions more on the technology,

Quantum computing stocks plummet after NVIDIA's CEO states practical quantum computers are 15-30 years away, impacting investor sentiment.

Quantum computing stocks have soared over the past few months. Nvidia CEO Jensen Huang recently commented that the technology is likely still decades away from being useful, sending quantum computing stocks plunging.