Quantum computing stocks were red-hot recently, but Jensen Huang just offered optimistic investors a reality check.

Many quantum computing stocks exploded in value last year as investors hoped to get ahead of the crowd in what could be a transformational wave of new technology. Excitement grew

Several stocks across the quantum computing industry fell sharply Wednesday after Nvidia CEO Jensen Huang said the technology is likely still years away.

Quantum stocks like Rigetti, IonQ and D-Wave Quantum saw steep losses after Nvidia CEO Jensen Huang said quantum computers are decades away.

Though investors saw this as disappointing, there is some reassuring news. Quantum computing is progressing, meaning these companies will likely report accomplishments and milestones in the months and years to come -- and these represent catalysts for quantum computer stocks to climb.

Quantum computing has suddenly become a buzzword on Wall Street. Ever since Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) reported that it hit a new milestone with Willow, its new quantum chip, quantum stocks have been soaring.