There are a few different ways to tap into the coming quantum computing revolution. You can invest in a pure-play stock like Quantum Computing Inc. (NASDAQ: QUBT) and hope that it is among the ones that break out and don't get gobbled up by a bigger fish or go out of business. Think of all the dot-coms there were before things started consolidating. Another option is to find an exchange-traded fund (ETF) that invests in a pool of cutting-edge quantum computing stocks for that diversification and active, ...

Core Insights - Luminar's lidar business received a higher bid of $33 million from MicroVision, surpassing the previous bid of $28 million from Quantum Computing Inc. [1] - MicroVision aims to acquire intellectual property, inventory, engineering talent, and commercial contracts related to its lidar sensors, indicating a strategic move to enhance its position in the lidar market [1]. - The sale is pending approval from the bankruptcy court, with a hearing scheduled for Tuesday afternoon [1]. Company Developments - Austin Russell, Luminar's founder and former CEO, has not confirmed whether he submitted a bid for the lidar assets during the bankruptcy process [2]. - Russell's previous attempts to acquire Luminar outright and his ongoing legal disputes with the company highlight the complexities surrounding the bankruptcy case [3]. - A protective order regarding Russell's personal information was established, allowing him to comply with a subpoena related to his resignation and the ongoing legal matters [4]. Industry Context - MicroVision's CEO emphasized the need for consolidation in the lidar market, suggesting that the industry is poised for significant changes and increased safety through advanced technology [1]. - The acquisition of Luminar's lidar assets could expedite the resolution of Luminar's bankruptcy case, which has been ongoing since December [4]. - The sale of Luminar's semiconductor division to Quantum Computing Inc. for $110 million indicates ongoing restructuring efforts within the company [4].

Core Viewpoint - Luminar's lidar business has attracted a higher bid of $33 million from MicroVision, surpassing the previous bid of $22 million from Quantum Computing Inc. as the auction concludes in the company's bankruptcy case [1][2]. Group 1: Bidding Process - MicroVision's bid of $33 million exceeds Quantum Computing Inc.'s latest bid of $28 million, which was initially $22 million [2]. - The sale of Luminar's lidar business is pending approval from the judge overseeing the bankruptcy case, with a hearing scheduled for Tuesday afternoon [2]. Group 2: Company Background and Legal Issues - It remains uncertain whether Luminar's founder and former CEO Austin Russell submitted a bid for the lidar assets, although he had previously expressed interest [3]. - Russell and Luminar have been involved in legal disputes regarding a subpoena, with the company considering legal action against him related to his resignation following an ethics inquiry [4]. - Russell has agreed to comply with the subpoena, and a protective order regarding his personal information has been established [5]. Group 3: Bankruptcy Case Progress - The potential sale of the lidar assets could expedite the resolution of Luminar's bankruptcy case, which was filed in December [5]. - Luminar has already reached an agreement to sell its semiconductor division to Quantum Computing Inc. for $110 million [5].

Core Viewpoint - Quantum Computing stock is expected to surprise investors and potentially trigger a short squeeze in 2026, despite its current struggles and underperformance compared to peers in the quantum computing sector [1][6]. Company Performance - Quantum Computing recorded its first revenue in 2022 at $136,000, but has struggled to exceed $1 million in annual revenues, with losses of approximately $68 million over the past year [4]. - The company has significant cash reserves of $555 million, which can sustain operations for the next 17 years at current cash burn rates [5]. Revenue Growth Projections - Revenue growth for Quantum Computing was 55% year-over-year through the first nine months of 2025, with expectations of reaching 100% growth once Q4 results are in [7]. - Projections for 2026 suggest sales could exceed 200%, reaching $2.8 million, and potentially quintuple to $15 million in 2027 [7]. Market Sentiment and Short Selling - Currently, 48.6 million of the company's 224.1 million shares are sold short, indicating a significant bearish sentiment among investors [9]. - If Quantum Computing meets its sales projections in Q4, it could lead to increased investor confidence and a potential short squeeze, driving the stock price higher [9].

Core Viewpoint - Quantum Computing (QCi) is experiencing significant stock price appreciation but presents serious investment risks due to its high valuation and share dilution issues [2][11]. Company Overview - QCi specializes in photonics technology for quantum computing, which operates at room temperature and requires low power, distinguishing it from other quantum systems [5]. - The company has a market capitalization of approximately $2.7 billion and has generated only $546,000 in revenue over the trailing 12 months, resulting in a price-to-sales (P/S) ratio exceeding 3,000 [3][8]. Financial Performance - QCi's stock has increased by 591% over the last three years, but the company has not yet achieved substantial revenue growth [2]. - The company has a robust balance sheet with over $1.5 billion in cash and investments, crucial for funding its high research and development costs [6]. Share Dilution - QCi has quadrupled its outstanding shares from about 60 million to 224 million over the past three years, raising concerns about share dilution for existing investors [7][9]. - The repeated issuance of new shares to raise capital has resulted in a significant reduction in the ownership stake for early investors [7]. Competitive Landscape - QCi faces fierce competition from other pure-play quantum computing companies such as D-Wave, IonQ, and Rigetti, as well as major tech firms like Alphabet, IBM, and Nvidia that are also investing in quantum technologies [10][11]. - The uncertainty regarding which quantum computing method will prevail adds to the investment risk associated with QCi [5][11].

Company Overview - Quantum Computing (QCi) has experienced significant stock volatility since its uplisting to the Nasdaq on July 15, 2021, starting at $6.60 per share and dropping to a low of $0.42 by July 1, 2024, before rebounding to around $12 [1][2] - QCi's photonic quantum chips, which utilize light for data processing and are manufactured in conventional chip fabs, differentiate themselves from other quantum chips that require cryogenic refrigeration [3] Technology and Market Position - Theoretically, QCi's chips are expected to be cheaper, more scalable, and require less maintenance compared to traditional electron- and ion-driven systems, but they currently produce more errors and are more expensive to manufacture in small batches [4] - Despite opening its first foundry and beginning chip deliveries, QCi primarily generates revenue from professional services and its cloud-based Dirac-3 platform rather than chip sales [5] Financial Performance and Valuation - Analysts project QCi will generate only $2.8 million in revenue for 2026, while its market cap stands at $2.69 billion, resulting in a valuation of 960 times the revenue estimate, which may limit upside potential and attract short sellers [6] - As of the end of 2025, nearly 22% of QCi's outstanding shares were shorted, with expectations that this ratio could increase as the company faces challenges in scaling its chipmaking business [7] Comparison with Competitors - IBM is highlighted as a more stable investment in the quantum computing sector, having expanded its quantum business over the past decade and offering a healthy dividend, contrasting with QCi's volatile stock and overvaluation [8][9]

Group 1 - Quantum Computing Inc. (NASDAQ:QUBT) is recognized as one of the best quantum computing stocks to buy for 2026, with a "Buy" rating initiated by Rosenblatt and a price objective of $22 [1][2] - The company possesses significant quantum assets in areas such as photonics, computing, security, and sensing, along with thin-film lithium niobate (TFLN) fabrication facilities that cater to both internal and industry needs for integrated quantum photonics [1] - Quantum Computing Inc. has been selected as the stalking-horse bidder for the remaining assets of Luminar Semiconductor, Inc., with a bid of approximately $22 million, subject to higher offers during the auction process [2][3] Group 2 - The firm sees an immediate opportunity in quantum computing, indicating a favorable risk/reward profile for Quantum Computing Inc. [2] - Quantum Computing Inc. operates as an integrated photonics company, providing quantum machines to both commercial and government markets [3]

Core Insights - Quantum computing is viewed as a potentially revolutionary technology, but the industry may face a reckoning due to inflated valuations following a significant rise in 2025 [1] Valuation Concerns - D-Wave has trailing-12-month (TTM) sales of just over $24 million but commands a market capitalization of $10 billion, while Rigetti has TTM revenue of $12.7 million and an $8.5 billion market cap [3] - Quantum Computing reported TTM revenue of only $550,000 with a market cap nearing $3 billion, and IonQ, despite a TTM revenue of nearly $80 million, has a market cap of $18 billion [4] Commercialization Timeline - There is skepticism regarding the timeline for useful quantum computing, with some experts suggesting that large-scale commercial applications are still "far off" [6] - Morningstar's analysis estimates early commercialization could be 5 to 10 years away, while general-use quantum computing may take up to 20 years to materialize [6] Technical Challenges - The technology is still largely in the realm of pure science rather than practical engineering, with some academics questioning the feasibility of useful quantum computing [7] - Notable figures in the field, such as Gil Kalai and Mikhail Dyakonov, argue that essential problems like quantum error correction may be inherently impossible, suggesting timelines for practical applications could extend beyond three decades [8] Market Dynamics - Quantum pure-play companies have achieved substantial market capitalizations despite generating minimal revenue, indicating a potential bubble in the investment cycle similar to past market phenomena [9]

Core Viewpoint - The quantum computing sector appears overvalued, driven by retail investor enthusiasm, and is characterized by speculative investments despite minimal revenue generation [1][5][13]. Group 1: Market Dynamics - Quantum computing stocks gained significant attention in 2025, particularly after Google's announcement regarding its Willow quantum chip in December 2024, which triggered a surge in stock prices [1][2]. - Stocks of companies like IonQ, D-Wave Quantum, and Rigetti Computing saw substantial increases following Google's update, indicating a strong market reaction [2][4]. - The sector has been compared to other speculative technology sectors that have risen alongside the AI boom, despite their current lack of substantial revenue [5][6]. Group 2: Retail Investor Behavior - Retail investors have shown a strong interest in quantum computing stocks, with some behaving similarly to meme stocks, driven by the potential for high returns [10][12]. - The appeal of quantum computing stocks lies in their promise of future technological advancements, with projections suggesting a potential $1.3 trillion value addition to various industries by 2035 [11]. - The popularity of these stocks among retail investors has raised concerns about their valuations, as they are not supported by significant revenue or technological advancements compared to larger tech companies [13][16]. Group 3: Technology Overview - Quantum computing operates on the principles of quantum mechanics, utilizing quantum bits (qubits) to solve complex problems more efficiently than classical computers [8][9]. - The technology holds potential for breakthroughs in fields such as pharmaceuticals and engineering, although the timeline for achieving disruptive scale remains uncertain [9][18]. Group 4: Expert Opinions - Experts like Scott Aaronson have expressed skepticism regarding the current batch of quantum computing stocks, suggesting that their price increases are more a result of marketing than genuine technological progress [16][17]. - The speculative nature of investments in quantum computing stocks, particularly among inexperienced investors, raises concerns about the sustainability of their current valuations [6][17].

Core Insights - Rigetti Computing is a key player in the quantum computing sector, offering various models including the Ankaa-3 and Cepheus-1-36Q systems, with a focus on modular quantum computing [1][2] - The global quantum computing market is projected to grow from $3.52 billion in 2022 to $20.2 billion by 2030, reflecting a compound annual growth rate (CAGR) of 41.8% [4] - Rigetti's revenue for Q3 2025 was reported at $1.9 million, down nearly 19% year-over-year, indicating challenges in revenue generation despite the potential for future growth [8][9] Company Overview - Rigetti Computing, headquartered in Berkeley, California, specializes in superconducting quantum integrated circuits and the necessary supercooling systems for quantum operations [2] - The company is recognized for its modular approach to quantum computing, which allows for scalability and enhanced performance [10] - Rigetti's upcoming Cepheus-1-108Q system is expected to be generally available by the end of Q1 2026, showcasing the company's commitment to innovation [7] Market Dynamics - The demand for quantum computing is increasing across various industries, including biopharma and finance, as traditional computing systems reach their limits [5][6] - Major tech companies like Amazon, IBM, and Microsoft are launching quantum cloud platforms, which are anticipated to significantly influence market development [5] Analyst Insights - Analyst John McPeake projects a potential upside of over 50% for Rigetti and Quantum Computing stocks over the next 12 months, indicating strong investor interest [3] - McPeake forecasts a top-line CAGR of 83% for Rigetti through 2030, with a revenue breakdown expected to shift significantly towards quantum hardware and services [11][12] - Rigetti's stock is currently rated as a Buy with a price target of $40, suggesting a 56% upside potential from its current price of $25.62 [12] Competitive Landscape - Quantum Computing, or QCi, is another notable company in the sector, focusing on quantum photonics technology and planning to acquire Luminar Technologies to enhance its capabilities [13][16] - QCi has a strong financial position with $1.6 billion in cash and no debt, which supports its growth initiatives in quantum computing [18] - QCi's stock is also rated as a Moderate Buy, with a price target of $22, indicating a potential 73% gain over the next year [19]