Quantum computing stocks led by D-Wave popped on Friday ahead of chipmaker Nvidia's GTC conference next week. The post Quantum Computing Stocks Jump Ahead Of Nvidia GTC Conference Next Week appeared first on Investor's Business Daily.
Shares of D-Wave Quantum Inc. NYSE: QBTS climbed over 18% after the company reported mixed results in its fourth-quarter 2024 earnings report. Revenue of $2.3 million beat expectations of $2.2 million.
Shares of some quantum computing companies rallied on Thursday, adding to gains from the previous session and bucking the broader market's trend after D-Wave Quantum forecast stronger-than-expected quarterly revenue.
Rigetti has dropped 33%, significantly underperforming the market's -7% decline, leading to an upgrade to speculative buy after the pullback. RGTI $200M+ partnership with Quanta aims to accelerate quantum commercialization by boosting R&D, QPU deployment, and securing government and academic contracts over five years. Revenue declined 32% year-over-year to $2.3 million in Q4, while the company reported a $153 million net loss, driven by lower-margin contracts and high expenses.
Quantum computing investing took off toward the end of 2024 with some major breakthrough announcements. This caused many stocks to double or triple in price nearly overnight, but that investing trend has fizzled out lately alongside the marketwide sell-off.
D-Wave Quantum says the development has practical applications in objects people use everyday.
Quantum computers hold a lot of promise. They could advance medicine and materials science discoveries, improve weather forecasting models, and help create more advanced artificial intelligence.
Quantum-Si aims to revolutionize protein sequencing but faces significant technological and competitive challenges. Commercial reception to Quantum-Si's solutions has been lukewarm so far, suggesting a significant improvement in performance will be needed to drive wider adoption. Quantum-Si believes that it can introduce a superior system in the next few years, but this involves significant uncertainty.
Most of the water cooler discussion these days among investors discussing the highest-flying stocks continues to be around artificial intelligence stocks, or companies leveraging such technology for growth.
Whenever a new megatrend emerges, it is not uncommon for small, previously little-known companies to suddenly become household names. Underneath the artificial intelligence (AI) umbrella, an area known as quantum computing has started receiving outsized attention.
Rigetti Computing and other pure plays may be on shaky footing as competition in quantum ramps up.
Quantum computing stocks continue to struggle in 2025 amid announcements from tech giants. D-Wave earnings are due on March 13.