Quantum computing stocks collapsed in the early part of January, thanks in part to comments from the CEO of Nvidia. The companies have promising technology, but it is still many years away from commercialization.

Rigetti Computing is at the forefront of the quantum computing industry, but the company has a speculative stock valuation.

Quantum computing was one of the hot trends of the past few months as stocks have doubled or more following Alphabet's (NASDAQ: GOOG) Willow announcement. Investors looking for any way to play the quantum computing space have pushed microcap stocks into the stratosphere.

Quantum Computing didn't have any news of its own to report, but the company is even smaller than D-Wave, with less than $1 million in revenue over the last four quarters. Its stock has soared even higher than D-Wave's over the last year, a disconnect that could lead to a continued decline in Quantum Computing's shares.

Rigetti Computing (RGTI) is an integrated full-stack quantum computing company that focuses on designing and developing quantum chips. It was the first company to develop a multi-chip quantum processor.

Rigetti Computing (NASDAQ: RGTI) stock posted explosive gains across 2024. The quantum computing company's share price closed out the year's trading up 1,449.4%, according to data from S&P Global Market Intelligence.