D-Wave Quantum Inc. (QBTS): Jim Cramer Shares Why It Went Up

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 D-Wave Quantum Inc. (NYSE:QBTS) stands against other stocks that Jim Cramer discusses.

D-Wave Quantum Inc. (NYSE:QBTS) is a technology company that builds and sells quantum computers. Its shares are up by a massive 66% year-to-date despite having tumbled by 62% in January after NVIDIA CEO Jensen Huang’s comments about quantum computing being a nascent technology. Yet D-Wave Quantum Inc. (NYSE:QBTS)’s shares soared by 22% in May after the firm announced that the next-generation quantum computing system Advantage2 was available for sale. The surge followed a massive 51% share price jump earlier in May after D-Wave Quantum Inc. (NYSE:QBTS)’s first quarter earnings report saw the firm report 507% revenue growth. Cramer’s comments revolved around NVIDIA CEO’s recent remarks about 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 modern computer datacenter, running an advanced quantum computer system.

Cramer also commented on D-Wave Quantum Inc. (NYSE:QBTS) back in February. Here’s what he said:

“Now I know there are real people who work at Rigetti or D-Wave…. They, they, they probably, they go to work, they, they talk with, about qubits and developing quantum materials that have never been ever seen before… Very compelling stuff but it doesn’t tell you much about the earnings power, which is what I care about.”

While we acknowledge the potential of QBTS 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.