"Artificial intelligence breakthroughs have pushed quantum computing closer to commercialization, and investors have seen the tremendous gains from some AI stocks. A Bank of America ( NYSE:BAC) analyst believes quantum is "the most important technological race of our generation," which puts it in the same territory as the AI frenzy, once the technology becomes more commercialized. Big promises like that have been sufficient for many investors, as they wait for quantum computing stocks to produce results that live up to the hype."
"D-Wave closed out the second quarter with an $819 million cash balance and 42% year-over-year revenue growth. The company delivered $3.1 million in sales compared to a market cap that is approaching $10 billion. D-Wave and the other quantum computing stocks on this list are the equivalent of investing in an early-stage startup that has substantial risk and gargantuan potential rewards."
Quantum computing remains early-stage while investors are actively buying related stocks such as D-Wave, IonQ, and Rigetti, which have outpaced the S&P 500 year-to-date. Artificial intelligence breakthroughs are accelerating paths toward commercialization and increasing investor interest. D-Wave reported a 165% year-to-date return, claims to build both annealing and gate-model systems, and closed the quarter with $819 million in cash and 42% year-over-year revenue growth. D-Wave delivered $3.1 million in sales against a market capitalization near $10 billion, maintained more than 100 paying customers, and saw bookings rise to $1.3 million, up 92% year-over-year.
Read at 24/7 Wall St.
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