Is D-Wave Quantum Inc. (QBTS) Hot Again?

We recently published a list of 5 Quantum Computing Stocks That Are Hot Again. In this article, we are going to take a look at where D-Wave Quantum Inc. (NYSE:QBTS) stands against other quantum computing stocks that are hot again.

When Jensen Huang’s comments about useful quantum computing being at least 15 years away tanked most of the quantum stocks, one person must have secretly chuckled. The man in charge of the largest software company in the world, Satya Nadella, may have been the right person to ask that question. His firm has just revealed a new quantum chip, one that uses a superconductor that is neither solid, liquid, or gas! It is a new state of matter altogether!

The new quantum chip is called the Majorana 1 and it can significantly speed up the quantum processes to solve problems in years rather than decades. Chetan Nayak, a technical fellow at the Windows maker had this to say about the development:

Whatever you’re doing in the quantum space needs to have a path to a million qubits. If it doesn’t, you’re going to hit a wall before you get to the scale at which you can solve the really important problems that motivate us. We have actually worked out a path to a million.

As a result of this revelation, quantum computing stocks are surging again. If you missed the last rally, you may still have ample time to get back in. Here is our list of 5 quantum computing stocks that are hot again. To come up with this list, we only considered stocks that have a market cap of at least $500 million.

A modern computer datacenter, running an advanced quantum computer system.

D-Wave Quantum Inc. (NYSE:QBTS)

D-Wave Quantum Inc. (NYSE:QBTS) produces and sells software, systems, and services related to quantum computing globally. Its Leap service provides users with real-time access to a quantum computer. Its quantum computer goes by the name Advantage. The stock has been slowly moving up after losing over 60% of its value due to Jensen Huang’s comments at the CES 2025 early last month.

The company’s CEO was quite vocal in response to Jensen Huang’s comments that useful quantum computing may at least be 15 years away:

“Jensen Huang has a misunderstanding of quantum. While he might be right about other quantum companies, he is dead wrong about D-Wave (NYSE:QBTS).”

The CEO will need more than just words to prove Huang wrong though. From a financial point of view, his company has liquidity issues. It recently raised $150 million via At-The-Market offering at an average price of $6.1. Currently, the stock trades just above this level thanks to the optimism surrounding the Majorana 1 quantum computing chip.

Overall, QBTS ranks 3rd on our list of quantum computing stocks that are hot again. While we acknowledge the potential of QBTS as a leading AI 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 as promising as QBTS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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