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We recently compiled a list of the 5 Quantum Computing Stocks Challenging Jensen Huang's Stance. In this article, we are going to take a look at where Rigetti Computing, Inc. (NASDAQ:RGTI) stands against the other quantum computing stocks.
At the CES 2025, Nvidia CEO Jensen Huang claimed useful Quantum Computing was at least 15 years away. This caused the stock prices of many quantum computing stocks to crash considerably. Considering Jensen Huang’s industry-leading position, the public’s reaction was natural. However, since then, multiple quantum computing firms have disapproved of those remarks, claiming they are building commercially useful quantum computers today!
For context, quantum computing stocks recently took off and enjoyed gains as high as 1000%. Google’s progress on the Willow chip in December also supported this optimism, a moment that could well define the start of the quantum computing era.
We compiled a list of quantum computing stocks challenging Jensen Huang's stance. To come up with the list, we considered stocks with a market cap of at least $200 million.
A close up of an engineer typing at a quantum computing station in a modern office space.
Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing, Inc. (NASDAQ:RGTI) designs and manufactures quantum processors and software tools that are instrumental in running quantum applications today. The company helps other firms seamlessly integrate quantum computing power into their existing infrastructure. RGTI also offers quantum cloud services, which allow its clients to access the power of quantum computing without having to build the hardware themselves.
Rigetti Computing, Inc. (NASDAQ:RGTI) generates over 90% of its revenue from customers looking to utilize this quantum computing power through the company’s cloud offerings. RGTI is one of those companies that continue to power real-world applications through their cloud services. If there was ever a quantum computing company that wanted to show Nvidia’s CEO what useful quantum computing looked like, it would be Rigetti Computing.
The company’s stock is up 18% and could run higher as the trading day progresses.
Overall, RGTI ranks 2nd on our list of the quantum computing stocks challenging Jensen Huang's Stance. While we acknowledge the potential of RGTI 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 RGTI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.