D-Wave Quantum CEO Alan Baratz said Nvidia’s Jensen Huang is “dead wrong” about quantum computing after comments from the head of the chip giant spooked Wall Street on Wednesday.

Wave fell sharply after Nvidia’s Jensen Huang said that “very simple quantum computers” could be 20 years away.

Quantum computing stocks are tumbling after Nvidia CEO Jensen Huang warned that the technology is a long way off.

Addressing a question from an audience member, Huang said 15 years would probably be on the "early side" and that 30 years would likely be on

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 Inc. (NASDAQ:QUBT) shares are trading lower in the premarket session on Wednesday. The company announced a private placement offering of 8.16 million shares of common stock at $12.25 per share.

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,

Steve Sosnick, Chief Strategist at Interactive Brokers (IBKR), spoke with Quartz for the latest installment of our “Smart Investing” video series.

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.