D-Wave Quantum Inc. (QBTS): A Quantum Computing Stock Jim Cramer Got Completely Wrong In December

We recently published Jim Cramer’s 13 Quantum Computing & Nuclear Stock Predictions – See How They Played Out! D-Wave Quantum Inc. (NYSE:QBTS) is one of the stocks Jim Cramer recently discussed.

D-Wave Quantum Inc. (NYSE:QBTS) is a quantum computing hardware and software company. The firm has been busy this year as it has made several important announcements. One of these came in May after D-Wave Quantum Inc. (NYSE:QBTS)  announced the availability of its Advantage2 quantum computing system. Over the year the firm’s shares have gained a whopping 1,454%, and they jumped by a respectable 26% the day it announced its new quantum computing computers. Cramer’s recent remarks about D-Wave Quantum Inc. (NYSE:QBTS) have quoted the firm’s management as saying that they could crack cryptocurrency if their quantum computers were on track. However, in December 2024, Cramer was quite cautious about D-Wave Quantum Inc. (NYSE:QBTS):

“these companies, can I just say, when you have GE Vernova saying listen I love to do nuke but I can’t. And they are the biggest nuke company in the world. How are these companies going to, how is DWave Quantum by the way, how is that going to quantum? When we don’t even know what quantum is? It’s a nonfungible tokens, right? Cause you know what a fungible token was?”

Compare these remarks with Cramer’s latest thoughts about D-Wave Quantum Inc. (NYSE:QBTS):

“D-Wave, I just, we are on Mad Money, putting every single one on, why? Because that’s what the public wants and we have to stop snubbing.

“Now I had D-Wave on last night, a quantum company. And I’ve got to tell you, they are saying if we get our, if we get where we are, this could all come down. That crypto could be in trouble if quantum comes out because they can overrun the blockchain.”

While we acknowledge the risk and potential of QBTS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than QBTS and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.