AI Stocks Dominate Friday’s Top 10 Performers

1. D-Wave Quantum Inc. (NYSE:QBTS)

D-Wave Quantum skyrocketed by 47.6 percent on Friday before ending the day just up by 46.89 percent at $10.15 apiece as investors cheered the company’s strong growth in bookings, offsetting disappointing revenues and net income performances.

In its latest earnings release, QBTS said bookings expanded by 502 percent to $18.3 million in the fourth quarter from only $3 million in the same period a year earlier, while bookings in the full year period registered a 128-percent jump at $23.9 million from $10.5 million year-on-year.

Meanwhile, net loss in full year 2024 increased by 74 percent to $143.9 million from $82.7 million year-on-year, while net loss for the fourth quarter surged by 438 percent to $86.1 million from $16 million year-on-year, primarily due to a non-cash, non-operating charge related to the remeasurement of its warrant liability that materially increased as a result of the significant price appreciation of its warrants.

While we acknowledge the 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 as promising as QBTS but 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.