We recently published Jim Cramer Said Quantum Computing Could Quench AI’s Thirst For Water As He Discussed These 14 Stocks . D-Wave Quantum Inc. (NYSE:QBTS) is one of the stocks Jim Cramer recently discussed.
D-Wave Quantum Inc. (NYSE:QBTS) provides quantum computing hardware and software. It has caught Cramer’s attention recently as he believes viewers are interested in the technology. Cramer has discussed quantum computing throughout this year and has started to grow fond of the sector recently. Cramer discussed what D-Wave Quantum Inc. (NYSE:QBTS)’s management had told him during the previous day’s airing of Mad Money:
“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.”
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Here is what he said about D-Wave Quantum Inc. (NYSE:QBTS) on the Mad Money episode:
“This market’s going into a speculative frenzy, people racking up huge gains in quantum computing stocks, even as the technology’s still in its infancy, but maybe it’s closer than we think, but I’m not scolding you. I want to take the speculation seriously because maybe it’s not that speculative after all, which brings me to D-Wave Quantum, a stock that’s up nearly 2000% over the past 12 months. I want some of that. Last Thursday, D-Wave reported. Honestly, I’m not quite sure what to make of the numbers. I’d rather just play with an open hand. Company’s touting the fact that bookings were up 92% year over year. That’s terrific. But like I said, quantum computing is still very early; that’s why booking stood at just 1.3 million… At the same time, the company’s losing big money, but you know, it has big money. So maybe, so what? So you can understand why more traditional investors look at this struggle to justify D-Wave’s more than $6 billion market capitalization, but not me, because I’m open-minded. I want to find out what’s going on. If this is the technology whose time has come, then it makes sense.”
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.
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