Quantum computing stocks soared on hype and AI buzz, despite no real products or profits yet.

Quantum computing stocks like Rigetti Computing, D-Wave Quantum, and IonQ have surged in value, driven by investor excitement and AI-related narratives, despite limited financial results or commercial applications. Rigetti’s shares rose 3,000% in a year, reaching a $13 billion market cap, while D-Wave and IonQ saw gains of over 2,490% and 295%, respectively. Institutional investors including Bill Ackman, Izzy Englander, and David Tepper are backing quantum efforts via stakes in tech giants Alphabet and Amazon, signaling long-term confidence. However, the technology remains in early development, with real-world use years away. Analysts project a $30 billion market by 2030–2040, but valuations appear inflated by speculation, raising concerns about sustainability.