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.

Jensen Huang founded accelerated computing company Nvidia ( NVDA -0.02%) 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.

On Monday at CES, the company unveiled Project Digits, a $3,000 personal AI supercomputer powered by a new GB10 Grace Blackwell Superchip. Reuters reports that yesterday Nvidia CEO Jensen Huang hinted to investors and analysts that there are bigger plans for the Arm-based CPU within that chip, codeveloped with MediaTek.