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Tech leaders are urging Biden not to finalize a new rule that will add export controls on AI, citing concerns it is overbroad and could diminish the U.S. dominance in that sector.

The stocks fell hard on Wednesday, however, after Nvidia Corp.'s (NVDA) chief executive outlined some other realities for the quantum sector, including that quantum computers are still a ways off.

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