The stocks were slammed last week, when Nvidia’s CEO said it would take decades for the technology to become “very useful.”

This is what's happening on Wednesday, as quantum computing investors cheer some kind words from Microsoft's strategic missions and technologies chief, Mitra Azizirad, who last night urged quantum investors to get ready, because "we are right on the cusp of seeing quantum computers solve meaningful problems and capture new business value."

D-Wave Quantum's valuation model suggests potential 25-35% annual returns in base and bull cases. See why we are neutral on QBTS stock.

The same stocks rallied earlier this week after Microsoft unveiled an initiative meant to familiarize business leaders with quantum systems.

Quantum computing stocks soared in the last month before a recent pullback. Some tech CEOs are skeptical that quantum computing will be impactful soon. AI stocks are also seeing strong growth. Investors should be aware that quantum computing is still an emerging technology.