Wall Street Breakfast
Nvidia pulls the rug out from under quantum stocks
Jan 8, 2025
The CEO of Nvidia warns it could take 20 years for quantum computers to become practical, leading to a notable decline in quantum stock values. AMC's leadership shares the struggles of shareholders, while a slew of NFL favorites win, causing a shakeup in gaming stocks. The podcast also highlights potential mergers and acquisitions in the software sector and examines how recent downgrades of AMD relate to Nvidia's performance, painting a vivid picture of today’s market dynamics.
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Quick takeaways
- NVIDIA's CEO forecasts a 20-year timeline for practical quantum computers, leading to significant declines in quantum stock valuations like Rigetti and IonQ.
- Recent mixed labor market data shows resilient jobless claims but disappointing private sector payroll growth, revealing challenges for small businesses amid larger firm gains.
Deep dives
Impact of Quantum Computing Insights on Stock Performance
Quantum computing stocks have experienced significant declines following remarks from NVIDIA's CEO about the timeline for useful quantum computers. He suggested that such advancements may be over a decade away, causing companies like Rigetti Computing and IonQ to drop by about a third. Despite impressive gains over the past year, with Rigetti seeing a 1,500% increase, the recent news has sparked concerns about future profitability and investment viability in the quantum sector. This commentary highlights the volatility and speculative nature of emerging technology stocks in response to industry expert predictions.
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