Why D-Wave Quantum Stock Plummeted 20% This Week
Shares of D-Wave Quantum (NYSE: QBTS) fell this week as part of a broader sell-off in tech, finishing down 20.2%. While the Nasdaq-100 finished down just 0.2%, the tech-heavy index was down as much as 2.1% earlier in the week.
Fears of an artificial intelligence (AI) bubble intensified this week amid mounting signs of economic weakness, hammering stocks with stretched valuations, like D-Wave's.
For months, tech stocks have surged on headlines of billion-dollar AI infrastructure deals and promises of revolutionary breakthroughs. But investors are starting to get antsy, demanding evidence of actual returns on the staggering capital expenditures pouring into AI and quantum computing.
Source Fool.com
