During the past few months, a new pocket of the artificial intelligence (AI) realm has come into the spotlight. Investors have been cheering on quantum computing stocks, and companies such as IonQ, Rigetti Computing, and Quantum Computing have drawn a good deal of attention.
Over the last couple of years, technology stocks have captivated the investment world thanks in large part to breakthroughs in artificial intelligence (AI).
After Google's parent, Alphabet NASDAQ: GOOGL, announced a breakthrough in quantum computing with its Willow chip, stocks linked to quantum tech have soared. Rigetti Computing NASDAQ: RGTI has seen its value rise several times over in just a month.
The quantum computing landscape is rapidly evolving as major tech giants pour resources into this transformative technology. D-Wave Quantum Inc. (QBTS -4.89%) has emerged as a standout player in this space, with its share price reflecting tremendous investor optimism over the past year.
Several quantum computing stocks soared sky-high last month, according to data from S&P Global Market Intelligence. Here are three of the industry's most notable gains in December 2024:
Rigetti Computing Inc. RGTI is experiencing a meteoric rise, with its stock skyrocketing 1,860% in six months to trade at around $19.
Quantum Computing (QUBT -4.38%) saw its share price surge in the last two months of 2024.
Over the last few months, a new theme has emerged in the artificial intelligence (AI) realm. Quantum computing has attracted a lot of enthusiasm from investors, and several companies attempting to commercialize and advance this cutting-edge technology have experienced rapid gains in their stock prices.
Since my last article, QSI's technical picture has improved, meeting all my investment criteria: bullish price action, momentum, volume, and relative strength. QSI is now above its upward sloping 30-week EMA, successfully retested a previous resistance level, and shows both short-term and long-term bullish momentum. Volume remains bullish, indicating institutional accumulation, and relative strength has improved significantly, outperforming the S&P 500.
Quantum computing is a hot topic right now. Three of the four highest-performing stocks in the last six months are pure play investments in this technology.
Enthusiasm over the quantum computing space is strong as 2025 approaches.
Alphabet's diversification into new businesses is a key investment thesis, especially as its Search business faces global antitrust scrutiny. The company's diversification into quantum computing shows promise for long-term growth. Alphabet's superconducting quantum processor, Willow, crosses a key milestone in the development of quantum computers.