By Urmimala Biswas
Publication Date: 2025-12-29 20:00:00
In the first several months of 2025, pure-play quantum computing stocks such as Rigetti Computing RGTI and D-Wave Quantum QBTS delivered spectacular returns as investors chased early-stage breakthroughs and future potential. From January to September, while QBTS stock rallied 157%, RGTI gained 49%. These rallies were driven by rapid valuation expansion, growing venture investment in the sector and positive sentiment around promising revenue streams, despite overall revenues remaining modest.
Image Source: Zacks Investment Research
However, the momentum has cooled significantly lately. Pure-play names have shifted from parabolic gains toward more muted year-to-date performance and heightened volatility amid stretched valuations. From October 2025 to date, shares of QBTS gained just 2.3% while RGTI lost 24.9% during this period. As pure-plays struggled to sustain stock-price momentum, large technology companies such as Amazon AMZN and IBM IBM…
