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Nvidia Sparks Quantum Stock Rally Across IONQ, RGTI, QBTS, but Fundamentals Lag Behind

Tipranks - Tipranks - Fri Apr 17, 6:14AM CDT

Quantum computing stocks are on the move again. In just five days, names like D-Wave Quantum Inc. (QBTS), Rigetti Computing Inc. (RGTI), IonQ Inc. (IONQ), Quantum Computing Inc. (QUBT), Arqit Quantum Inc. (ARQQ), jumped significantly in the last week, with Xanadu Quantum Technology (XNDU) a standout with over 200% rise in the last five trading days.

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At first glance, this looks like a classic momentum run. However, the move has clear triggers, and it is not just retail hype.

A Real Catalyst Behind the Rally

The latest push began after Nvidia Corporation (NVDA)introduced its new Ising model. The model is built to help solve error correction, which is one of the main challenges in quantum computing today.

In short, error correction is the key step needed to make quantum systems useful at scale. Nvidia said its work is aimed at “accelerating progress toward practical quantum computing.” That message helped shift market sentiment.

At the same time, IonQ reported progress in quantum networking and continued work with government groups. This added to the sense that the sector is moving forward.

As a result, the rally has been broad. Stocks like D-Wave, Rigetti, IonQ, Quantum Computing, Xanadu, and Arqit all moved higher together. This shows that investors are buying the theme, not picking one winner.

Strong Story, Weak Fundamentals

Still, the financial side has not changed much. Putting IonQ aside, most of these firms report low revenue and ongoing losses. Many are still in early stages with no clear path to steady profit.

Even after the recent surge, some of these stocks remain below prior highs. This suggests that the move is more about renewed belief than a shift in earnings.

In addition, large tech firms like Alphabet Inc. (GOOGL), International Business Machines Corporation (IBM), and Microsoft Corporation (MSFT) remain key players in the long term. These firms have the scale and funding to shape the future of quantum systems.

A Sentiment Reset, not a Breakout

In the end, the rally reflects a shift in tone. The sector looks more credible today than it did just weeks ago. Nvidia’s Ising model helped spark that change.

However, the gap between promise and profit is still wide. Investors are reacting to progress, but the business results have yet to follow.

That leaves quantum stocks in a familiar place. The story is gaining strength, but the numbers are still catching up.

We used TipRanks’ Comparison Tool to align all the quantum stocks appearing in the piece. It’s a great tool to gain an in-depth view of each stock and the broader quantum industry.

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