Shares of leading firms nose-dive after Nvidia’s Jensen Huang suggests a generational wait for fully functional quantum tech. We’ve been told that the future is now, but it seems it’s not quite here yet—at least not for quantum computing.

The quantum computing rally came to an abrupt end on Wednesday following comments from Nvidia CEO Jensen Huang. During a question-and-answer session with analysts, Huang put forth a more pessimistic view of the quantum computing timeline:

Rigetti Computing, IonQ, and other quantum stocks plunged after Nvidia CEO Jensen Huang told Wall Street analysts that “very useful quantum computers” are likely 20 years away.

Nvidia CEO's comments on quantum computing caused a market drop, erasing $8 billion from companies like IonQ, Rigetti, and D-Wave. Huang suggested useful quantum computing may be 15-30 years away. D-Wave's CEO disagreed,

Defiance Quantum ETF returned 60.4% over the last year through Jan. 3 -- just over double the S&P 500 Index's 28.1% return.

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

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.