Quantum computing companies have surged recently but Nvidia CEO Jensen Huang had a disappointing message for the sector.

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.

Shares in Quantum Computing Inc., D-Wave Quantum Inc. and Rigetti Computing Inc. dropped more than 14% in premarket trading, while IonQ fell about 10%.

Also, in late November 2024, The Senate advanced the Department of Energy (DOE) Quantum Leadership Act of 2024, proposing $2.5 billion over 5 years to fuel US quantum R&D. Notably, the bipartisan bill emphasizes quantum networking, domestic manufacturing, and public-private partnerships to ramp up quantum innovation.