Quantum Computing: Overhyped or Overvalued?

Quantum computing is all the rage right now. Stocks in this sector have seen massive gains, but not everyone is convinced this is a good thing. Andrew Left, a well-known short seller, has been vocal about his concerns. He's betting against two companies in this space: Rigetti Computing and D-Wave Quantum. These stocks have surged in 2025, but Left thinks they're overvalued. Left is no stranger to controversial bets. He gained fame during the GameStop short squeeze and has a history of calling out companies he believes are in trouble. His concerns about quantum computing stocks revolve around high research and development costs and stiff competition. He's particularly worried about Rigetti, which he thinks is spending too much on R&D and facing tough competition from tech giants like Google. Left's concerns aren't new. He's been critical of Rigetti since last year when the stock was much lower. He even recommended it as a speculative play a few years ago, but after meeting with management, he changed his tune. He's concerned about the company's technology and the uncertainty surrounding the commercialization of quantum computing. Despite his bearish views on most quantum stocks, Left sees potential in one company: Infleqtion. He believes its business model, which involves integrating quantum technology with Nvidia's ecosystem, is a winning formula. He also dismisses the idea that the US government would bail out quantum companies, stating that it's not how things are done. The debate over quantum computing stocks is heating up. While some see massive potential, others like Left believe the hype is outpacing reality. Only time will tell who is right. But for now, investors should do their own research and think critically about the risks involved.