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

Toward the end of 2024, shares of quantum computing stocks such as IonQ, D-Wave Quantum, Quantum Computing, and Rigetti Computing all experienced significant run-ups. Curiously, each of these companies was a penny stock at the beginning of 2024 -- only to see its valuation soar well into the billions during a rather short time period.

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 has suddenly become a buzzword on Wall Street. Ever since Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) reported that it hit a new milestone with Willow, its new quantum chip, quantum stocks have been soaring.

Wave, says commercial quantum computers are not "decades away" after share prices dramatically fell this week.

Dr. Alan Baratz sits down with TheStreet to explain why Nvidia's CEO is "dead wrong" about quantum computing's future.

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."