Quantum Computing Stocks Roundup: Key Players Making Waves in the Market

Quantum computing stocks are witnessing a remarkable surge, fueled by advancements in technology, strategic partnerships, and increased interest from investors. This burgeoning sector is not only gaining traction but is also proving its potential in critical areas such as drug discovery, cryptography, and artificial intelligence, making it a focal point for many investors.

Among the notable players in the market is NVIDIA (NASDAQ: NVDA), who has been deeply involved in the quantum computing arena. Their work continues to drive interest and innovation across the landscape.

One standout performer is D-Wave Quantum Inc. (QBTS), which has experienced an astonishing 246% increase in its stock price just over the last month, as reported by Benzinga Pro. D-Wave specializes in annealing quantum computing, an approach particularly adept at addressing optimization problems that are crucial in various industries.

Recently, D-Wave's CEO Alan Baratz appeared on Fox Business’ Making Money with Charles Payne to discuss the company’s cutting-edge contributions to quantum computing. On November 25, B. Riley Securities maintained a Buy rating on D-Wave and raised the target price from $3.75 to $4.50.

In addition to these developments, D-Wave participated in the Quantum Technologies Forum at the University of Southern California (USC). At the event, D-Wave showcased advancements in its technology and presented real-world applications from both commercial and research partners, highlighting USC’s D-Wave Advantage quantum system.

Interestingly, D-Wave's stock has seen a staggering year-to-date increase of over 517%, and investors looking to tap into this growth can do so through the Defiance Quantum ETF (QTUM).

Key Competitors in the Quantum Computing Space

Now, let's explore three other leading companies making significant strides in the quantum computing industry:

Rigetti Computing, Inc. (RGTI): RGTI's stock has seen an impressive growth rate of over 206% in just a month. B. Riley Securities also reiterated a Buy rating on Rigetti with a price target adjustment from $3.50 to $4.

Last month, Rigetti formed agreements with two institutional investors, successfully raising around $100 million by selling 50 million shares of common stock at $2.00 each. The company also announced the relocation of its Novera Quantum Processing Unit (QPU) to the Israeli Quantum Computing Center (IQCC), which now operates alongside Quantum Machines’ OPX1000 control system and NVIDIA’s Grace-Hopper superchip servers to support research activities.

Investors can also gain exposure to Rigetti via the Defiance Quantum ETF (QTUM).

IonQ, Inc. (IONQ): This stock has increased over 70% in the past month. Craig Hallum recently reaffirmed a Buy rating, with a price target boost from $15 to $22.

IonQ’s upward momentum has significantly benefited from pivotal contracts, including a $54.5 million agreement with the U.S. Air Force Research Lab and a partnership with the South Korean government aimed at enhancing its quantum market presence.

The company is leveraging the booming AI sector with partnerships like that with Zapata Computing, utilizing NVIDIA’s CUDA-Q platform, and experimenting with large language models on its quantum systems. Investors can access IonQ stock through the Main Thematic Innovation ETF (TMAT).

Quantum Computing Inc. (QUBT): This smaller company has surged impressively, with its stock gaining more than 487% in the past month and over 790% year-to-date. Recently, Quantum Computing Inc. entered into a securities purchase agreement to sell 16 million shares at $2.50 each, raising gross proceeds of $40 million.

On November 20, the company received its second purchase order for its thin film lithium niobate (TFLN) photonic chip foundry from the University of Texas at Austin, which will aid in research for the university’s RF Acoustic Microsystem Group. The fulfillment is expected in the first quarter of 2025.

As the quantum computing industry continues to evolve with innovative technologies and strategic collaborations, these companies remain crucial options for investors looking to engage with this transformative field.

Quantum, Investors, Stocks