IonQ, Inc. (IONQ): NVIDIA CEO Is Giving A Green Light, Says Jim Cramer

We recently published a list of Jim Cramer Discusses Quantum Computing Stocks Among These 12 Stocks. In this article, we are going to take a look at where IonQ, Inc. (NYSE:IONQ) stands against other stocks that Jim Cramer discusses.

IonQ, Inc. (NYSE:IONQ) is one of the few pure-play American quantum computing hardware companies. The firm was a regular feature of Cramer’s appearances earlier this year in January. Back then, the quantum computing sector was basking in the glory of Google’s announcement that its quantum computer had significantly outperformed a supercomputer. Investors started piling into quantum computing stocks, but Cramer remained a skeptic. Back then, NVIDIA CEO Jensen Huang knocked the wind out of the quantum computing bubble after he remarked that the technology wasn’t mature. Yet, in a turn of events in late May, IonQ, Inc. (NYSE:IONQ)’s shares surged by 22% after its CEO commented in an interview that his firm could be the ‘NVIDIA’ of quantum computing. Cramer’s comments revolved around NVIDIA’s CEO changing tack on quantum computing:

“There are four quantum stocks that we have to follow. Some of my people that I work with were very, I think that they were, probably concerned that I went out and said, look we ought to be looking at . . .we ought to be looking at, you know the ones that people talk about. But they’re gonna fly!”

A quantum computer on a countertop in an engineering laboratory with a technician at work.

Recently, Cramer commented on IonQ, Inc. (NYSE:IONQ)’s valuation:

“Oh my god, it’s so high and it’s losing so much money, but it’s quantum. If I offer you a considered explanation of why I think that stock’s too expensive, most people ignore it, so all I’m going to say is it’s too speculative for me. I don’t know what else to say.”

While we acknowledge the potential of IONQ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.