Quantum computing stocks took a wild turn in early 2025, with Rigetti Computing (RGTI) becoming the center of speculative trading, much like GameStop (GME) a few years ago. The stock skyrocketed by nearly 1,

Shares of Rigetti computing have lost more than 70% of their value since hitting their $20 closing high less than two weeks ago. The volatile plunge in share price came on the heels of Jensen Huang - NVIDIA’s CEO – on the reasonable timeline for quantum computing.

Rigetti stock is up 1,756% in the last year — but 74% overvalued. Investors who did not buy Nvidia stock before GenAI wave, fear missing out on quantum computing.

"Particularly because of the hype that is going on in the quantum computing space and some erroneous statements are being made, including by people in the industry, we have to tamp down some expectations," Rigetti Computing CEO Subodh Kulkarni told me on Yahoo Finance's Opening Bid podcast (video above; listen in below).

Shares of Rigetti Computing are trading higher by 24.8% during Tuesday's session. The stock is rebounding after recent remarks by Jensen Huang and Mark Zuckerberg that cast doubt on quantum computing's timeline.

The company plans to leverage this technology to create a 36-qubit system using four connected chips by mid-2025, followed by a 100-plus qubit system later in the year. Financial position strengthens amid soaring valuation Rigetti's financial position was significantly boosted by a capital raise last November.

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."

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