Nvidia's Jensen Huang and Meta's Mark Zuckerberg Pour Cold Water on Quantum Computing Hype. Here's 1 Stock to Buy Anyway.

Quantum computing holds the potential to radically transform the world. It could accelerate the discovery of new drugs. It could help design super-strong new materials. It could make artificial intelligence (AI) more powerful.

But quantum computing isn't there yet. And the timeline for the technology to mature could take longer than many people expect.

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Nvidia CEO Jensen Huang and Meta Platforms CEO Mark Zuckerberg recently poured cold water on some of the hype surrounding quantum computing. However, at least one quantum computing stock remains a great pick for investors to buy.

What Huang and Zuckerberg think about quantum computing

Huang is usually an optimist about how quickly technology will advance. For example, he has predicted that artificial general intelligence (AGI) will be developed by 2028. Huang isn't so optimistic about the pace in which quantum computing will move forward, though.

Speaking at Nvidia's analyst day last week, Huang said, "If you said 15 years for very useful quantum computers, that would probably be on the early side. If you said 30, it's probably on the safe side. But if you picked 20, I think a whole bunch of us would believe it." His words caused several top quantum computing stocks to plunge.

Huang isn't alone in holding such a cautious view. Meta's Zuckerberg expressed a similar opinion in an interview with podcaster Joe Rogan. He stated, "I'm not really an expert on quantum computing, but my understanding is that's still quite a ways off from being a very useful paradigm." Zuckerberg added that the timeline is probably at least a decade away.

Again, several quantum computing stocks tumbled. Shares of IonQ are now down around 45% from their peak after skyrocketing in the latter part of 2024. D-Wave Quantum and Rigetti Computing stocks have cratered more than 50%. The steep sell-offs are primarily due to Huang's and Zuckerberg's comments.

A quantum computing stock that's still a great buy

To be sure, not everyone agrees with Huang and Zuckerberg. D-Wave Quantum CEO Alan Baratz said Huang's negative view of quantum computing was "dead wrong." Others raised questions about the threat the technology poses to Nvidia, implying that Huang might have ulterior motives in playing down quantum computing's near-term value. Zuckerberg's admission of his lack of expertise in quantum computing could allow some to dismiss his take.

Even if you fully agree with the opinion that it could be a long time before quantum computing is ready for prime time, though, one quantum computing stock looks like a great buy -- Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). Huang's and Zuckerberg's remarks didn't affect the Google parent's stock price very much.

Alphabet deserves most of the credit for igniting the recent quantum computing boom. On Dec. 9, 2024, the company's Google Quantum AI unit introduced its new Willow quantum chip. This new chip achieved two key milestones: an exponential reduction in errors and performing a standard benchmark computation in less than five minutes that would take 10 septillion years (a number with 25 zeros) for the fastest supercomputer available today to complete.

This wasn't Google Quantum AI's first important quantum computing milestone to achieve. In 2019, its Sycamore processor demonstrated the ability to go beyond classical computation by performing a calculation in 200 seconds that Google said would have taken the most powerful supercomputers 10,000 years to handle.

Google Quantum AI acknowledges much more work is needed. However, the unit believes that a "useful, error-corrected quantum computer is within reach." Its scientists are cautiously optimistic this goal could be achieved by the end of this decade.

More than quantum computing

Of course, Alphabet is focused on more than just quantum computing. That's why I think it's a great stock to buy regardless of how long it takes to build a game-changing quantum computer.

The company's Google unit is one of the top pioneers in advancing AI. Google Cloud has a huge growth opportunity as organizations shift their IT spending from on-premises to the cloud. Google Search and YouTube continue to dominate their markets. Alphabet's Waymo is in the driver's seat (pun fully intended) in the autonomous ride-hailing, or robotaxi, market.

Quantum computing is icing on the cake for Alphabet. However, with the company's major breakthroughs in the field so far, the technology could prove to be very sweet indeed for investors over the long run.

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Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Keith Speights has positions in Alphabet and Meta Platforms. The Motley Fool has positions in and recommends Alphabet, Meta Platforms, and Nvidia. The Motley Fool has a disclosure policy.