5 Quantum Computing Stocks That Are Hot Again

2. Rigetti Computing, Inc. (NASDAQ:RGTI)

Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the many firms that make quantum computers. However, the company goes a step further and also develops superconducting quantum processors. Its business works on quantum computing as a service model by selling access to its quantum computers. The company’s stock was up 1500% in 2024 even though it struggles with profitability and revenue generation.

In the industry that RGTI operates in, commercialization and scalability are uncertain. For this reason, the market sometimes refuses to factor in this negativity and values the stock highly. This is also what makes these stocks volatile, but the opportunity for big gains also comes in such stocks. As far as RGTI is concerned, quantum computing could soon become as important as AI for the US government. The company’s first-mover advantage positions it well to benefit from any government support or investment in this field.

The company’s 2025 plans could help it sustain a bull run. In mid-2025, it is expected to release a cluster of four 9-qubit chips which should help it go past the 99.5% two-qubit fidelity level. In simpler words, this would be the equivalent of 995 out of 1000 operations being correct. By the end of the year, the company intends to launch a similar system of over 100 qubits at the same fidelity level.