Quantum stocks like Rigetti, IonQ and D-Wave Quantum saw steep losses after Nvidia CEO Jensen Huang said quantum computers are decades away.

LAS VEGAS (AP) — In a packed Las Vegas arena, Nvidia founder Jensen Huang stood on stage and marveled over the crisp real-time computer graphics displayed on the screen behind him. He watched as a dark-haired woman walked through ornate gilded double doors and took in the rays of light that poured in through stained glass windows.

Nvidia CEO Jensen Huang will deliver the opening keynote at the CES on Monday, with many analysts viewing the event as a potential growth catalyst for the chipmaking giant.

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,

The shares of IonQ Inc. and other companies linked to quantum computing tumbled in extended trading on Tuesday after Nvidia Corp. Chief Executive Officer Jensen Huang said “very useful” quantum computers are likely decades away.

Quantum computing companies have surged recently but Nvidia CEO Jensen Huang had a disappointing message for the sector.

Quantum computing stocks dropped Wednesday after Nvidia CEO Jensen Huang declared that useful quantum computers are likely decades in the future.

Shares in the ultra-hot quantum computing sector plunged on Wednesday after Nvidia's CEO said useful quantum computers were decades away. Why it matters: Quantum computing stocks have been on a ferocious run,