Quantum Computing Stocks Like Rigetti Surge Over 1,000% As Investors Embrace Emerging Technology
Is the quantum computing sector having its “ChatGPT moment” or are investors gambling on the next big tech revolution? Weeks after Alphabet announced a milestone in its own quantum research, investors have been pouring money into the emergent and often-misunderstood quantum computing segment. As a result, shares of companies like Rigetti Computing, Quantum Computing, and D-Wave Quantum have soared over 1,000% fueled by the momentum spilling over from the AI and semiconductor trades.
- Rigetti Computing has emerged as the poster child for this surge, with its shares rocketing over 2,400% since the start of Q4 — transforming this one-time penny stock into a $5B business.
- Similarly, D-Wave Quantum shares have surged 940%, while the Defiance Quantum ETF has climbed 35% during the same period.
Reality check: While the quantum computing sector holds immense promise, with a projected market size of $65B by 2030, industry experts urge caution. They suggest focusing on established tech leaders like Microsoft and IBM for quantum exposure rather than speculative smaller players. As Baird’s technology desk strategist Ted Mortonson notes, “This whole quantum group is in the speculation overexuberance stage” — drawing parallels to the early days of the AI boom when loosely connected stocks soared before reality set in.
