“Quantum 4” companies see valuations pump by 100% this year

The group of pure‑play Quantum computing stocks known on Wall Street as the “Quantum 4” has surged more than 100% this ￰0￱ four companies (Rigetti, IonQ, D‑Wave Quantum, and Quantum Computing Inc) have become the center of one of the market’s most heated trends, even as investors struggle to figure out what any of these valuations are actually supposed to ￰1￱ pricing has been unstable, with wide swings happening in short ￰2￱ and analysts are working to understand how to value technology that is still developing and is not yet widely ￰3￱ companies are working to build machines that use Quantum theory to solve tasks that current computers cannot handle, possibly supported by artificial ￰4￱ say the technology could reshape areas such as cryptography and drug ￰5￱ wave of interest has led to sharp moves in share ￰6￱ investors are treating these companies as early claims on a future computing model that has not yet ￰7￱ swing as investors try to price the future Sylvia Jablonski, chief investment officer of Defiance ETFs, who oversees the Defiance Quantum fund (QTUM), said, “All of a sudden, it feels like science fiction has moved into the world of real technological possibility.” The statement reflects how quickly sentiment around the sector has changed, even though the businesses remain ￰8￱ statements show losses, though Rigetti posted a quarterly profit in early 2025 due to changes in the value of securities it held, not core ￰9￱ volatility has been especially clear in Rigetti’s ￰10￱ Sosnick, chief markets strategist at Interactive Brokers, said, “What is the right price to pay for a piece of the future?” Rigetti traded at $1.06 a share earlier in the year before climbing to $58.

By late October, it was the fourth‑most actively traded stock among Interactive Brokers ￰11￱ Rigetti shares changed hands than Apple or Amazon, two of the largest companies in the ￰12￱ now trades near $38, giving it a valuation of more than 1,000 times its ￰13￱ comparison, Nvidia trades at about 50 times ￰14￱ Poch, CEO of Promethium Advisors, who works with wealthy clients, described the pricing as “a magic act.” He said, “How else can you explain a company that has a $13 billion market capitalization but only $22 million in forecast revenues?” LSEG earnings consensus shows Rigetti projected to earn $21.9 million in ￰15￱ numbers illustrate the valuation disconnect investors are ￰16￱ change their price targets as corporate interest surges Art Hogan, chief market strategist at ￰17￱ Wealth, said traders have grouped these four companies together as the “Quantum 4,” separating them from larger names like IBM and Alphabet, which also work on Quantum ￰18￱ with the high valuations, some analysts still recommend the ￰19￱ Williams at Benchmark Equity Research rated Rigetti as a “buy” and raised his price target from $20 to $50 last ￰20￱ allegedly told Reuters, “The valuation on quantum names is more of an art than science.” On Monday, ￰21￱ analyst Craig Ellis downgraded Rigetti to “Neutral,” citing its “premium valuation” and risks tied to possible ￰22￱ ￰23￱ Ellis raised his price target from $35 to $42.

Rigetti traded at $36.43 on Tuesday, down nearly 7%. Banks and corporations have begun showing ￰24￱ Chase said last month it plans to invest up to $10 billion in strategic sectors such as Quantum ￰25￱ and HSBC said in September that they used Quantum‑based systems to create a new bond trading ￰26￱ surfaced last week suggesting the ￰27￱ may also consider funding Quantum firms in exchange for equity stakes. A ￰28￱ of Commerce official said the agency is “not currently negotiating” such plans. A McKinsey report estimates the Quantum computing market could grow beyond $100 ￰29￱ progress so far has been ￰30￱ Bradt, a portfolio manager at Neuberger Berman, said, “It’s the holy grail of computing; the use case is undeniable, and undeniably ￰31￱ there’s still a lot of uncertainty about the timing.” Join Bybit now and claim a $50 bonus in minutes