Quantum computing continues to capture the imagination of industries ranging from technology to cryptocurrencies, but the investment case varies sharply on a company-to-company basis. Below are 2 quantum computing stocks I’d buy right now, one more risky and one more conservative.
Rigetti: High risk, high reward
Rigetti Computing (NASDAQ: RGTI) develops superconducting quantum processors and systems for applications that could benefit from advanced computational capabilities. While that sounds impressive, this is the risky pick alluded to above.
The stock has struggled over the past year, and the shares are trading at $12.4, down 42% year-to-date (YTD) at press time. This is mostly because, while the company’s latest financial results showed commercial activity, revenue remains small relative to operating costs.
Advertisement
Notably, in its second-quarter 2026 results, published on August 6, Rigetti reported revenue of $5.1 million and an operating loss of $28.1 million. It ended June with $541.3 million in cash, cash equivalents, and available-for-sale investments to fund research and development and commercial expansion.
But there’s a silver lining. For example, Rigetti is collaborating with HP and the Pittsburgh Supercomputing Center to further develop a hybrid quantum-classical supercomputing environment.
In addition, the company is pursuing a potential U.S. Department of Commerce funding arrangement worth up to $100 million over three years. If all goes to plan, the shares could receive an important catalyst and get back on track in the long run. Still, risks remain significant, so the stock is a high-risk, high-reward play.
Nvidia: A conservative quantum computing stock play
Nvidia (NASDAQ: NVDA) is not technically a quantum stock per se because the company is not building a quantum computer. However, it is still a relevant pick as its strategy is built around the idea that quantum tools will have to be supported by traditional hardware – the kind of hardware Nvidia makes.
As a result, Nvidia could emerge as an indirect beneficiary of the quantum computing industry. For example, its artificial intelligence (AI) accelerators and CUDA-Q platform connect graphics processing units (GPUs) with quantum processors, and if history is anything to go by, further advances and innovation are virtually guaranteed.
Unlike Rigetti, the stock has been successful this year, climbing 15.49% YTD and trading at $215.38 at the time of writing, all thanks to AI hype. Looking ahead, the company projects that global annual data center capital expenditures will reach $3 trillion to $4 trillion by 2030.
Advertisement
Of course, the investment case remains speculative since commercial quantum computing revenue is not yet a meaningful driver for the company, leaving its valuation largely dependent on AI ventures.
Nonetheless, it is exactly that line of business that makes Nvidia a safer pick. That is, the tech giant does not have to wait for quantum breakthroughs to generate profit. Rather, it continues to grow by positioning itself as a leader in an already blooming industry, with quantum computing expected to further contribute to its growth down the line, not become the sole factor in its narrative.
The bottom line
In short, Rigetti offers direct exposure to quantum hardware, backed by more than half a billion dollars in cash. On the other hand, Nvidia offers a hedge, set to profit from the hybrid quantum business once it arrives and from AI demand in the meantime. However, both picks come with their own risks, so due diligence is mandatory.
Featured image via Shutterstock
