The AI chip maker’s Quantum Day was lacking in major announcements and the highflying—but highly volatile—stocks tumbled.

Other companies are leveraging different ways to corral quantum power. Quantinuum Inc., which is majority-owned by Honeywell International Inc., and IonQ Inc. use trapped ions or charged atoms as qubits. That enables the firms to link them together as a base circuit and carry out computer operations.

Nvidia CEO Jensen Huang offered a quantum-level climb-down on Thursday, after spooking quantum-computing companies earlier this year with his assessment that their efforts wouldn’t be “very useful” for 15 to 30 years.