Jim Cramer Talked About These 9 Nuclear Power and Quantum Computing Stocks

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

Number of Hedge Fund Holders: 6

Cramer expressed skepticism about D-Wave Quantum Inc. (NYSE:QBTS) as he remarked:

“I am wary of D-Wave Quantum, a $2.2 billion company with $9 million in revenues over the last 12 months and very big losses.”

D-Wave Quantum (NYSE:QBTS) offers quantum computing systems, software, and services, including the Advantage quantum computer and the Leap cloud platform. It also provides D-Wave Launch, a service to assist enterprises in implementing quantum solutions. The company’s financial performance has been challenging. For the third quarter of 2024, it reported a 27% decline in revenue compared to the previous year, with earnings falling to $1.9 million.

This marked a decrease from $2.5 million in the first quarter and $2.2 million in the second quarter of 2024. Alongside the revenue drop, the company’s net loss widened to $22.7 million in Q3 2024, compared to $17.3 million in Q1 and $17.8 million in Q2 of the same year. However, in response to concerns about the future of quantum computing, especially following comments from Nvidia CEO Jensen Huang, the company’s CEO Alan Baratz expressed strong disagreement.

Baratz asserted that Huang was “dead wrong” about the prospects of quantum computing, emphasizing that D-Wave Quantum’s (NYSE:QBTS) systems are already in use by companies like Mastercard and Japan’s NTT Docomo in production environments. Unlike other approaches to quantum computing, such as the gate-based model, which Baratz acknowledged might take decades to be fully realized, D-Wave’s annealing approach can be applied today to benefit businesses in real-world operations.