Quantum computing stocks like Rigetti Computing (RGTI) and IonQ (IONQ) have been on a tear in recent months, as investors continue to bet that this futuristic technology will soon redefine Wall Street and the world as we know it. Largely inspired by the release of Google’s (GOOGL) Willow chip, quantum computing stocks took off at the end of 2024. Willow was able to solve complex mathematical problems in mere minutes, while traditional supercomputers would have needed 10 septillion years. This accomplishment suggested that real-world applications for quantum computing could be available in the short term. Pure-play startups like Rigetti and IonQ have ridden this wave of enthusiasm higher, with RGTI stock up nearly 1,300% in the past three months and IONQ stock up 250% in the same time frame.

IonQ's chief executive responds after his company's stock dropped this week.

Quantum computing stocks landed on investors' radars late last year when Alphabet announced a huge breakthrough with one of its quantum computing chips. This caused a marketwide rally in quantum computing stocks, sending top picks like IonQ (NYSE: IONQ) and Rigetti Computing through the roof. However, these stocks suddenly crashed when a prominent voice in the computing industry said that useful quantum computers were still 15 to 30 years away. That comment came from Nvidia CEO Jensen Huang, who has a strong pulse on the computing world.

Mad Money host Jim Cramer commands retail investor attention, and he recently raised red flags about quantum computing stocks, suggesting that current enthusiasm might be getting too far ahead of business fundamentals. While companies like Rigetti Computing (RGTI) and IonQ (IONQ) have captured investors’ imaginations with promises of revolutionary technology, Cramer warned that 2025 might be too early for commercial breakthroughs in this sector.