Quantum computing stocks are on fire, with Rigetti Computing (NASDAQ:RGTI) leading the charge. Shares soared over 13.5% in Wednesday morning after Microsoft (NASDAQ:MSFT) lit a spark by urging businesses to get quantum-ready for 2025. Mitra Azizirad, president of Microsoft's strategic missions and technologies, didn't hold back, calling this a critical and catalyzing time for quantum R&D to take off. Even Nvidia (NASDAQ:NVDA) jumped in, announcing its own Quantum Day at the GTC conference this March, fueling investor excitement for what's next.

• Warning! GuruFocus has detected 4 Warning Signs with RGTI.

But let's not get ahead of ourselves. This sector is as volatile as it is hyped. While Rigetti's stock has rocketed 895% in the past year, it's still losing money, burning through $45 million in nine months, and might need more cash by 2026 to keep its quantum chip dreams alive. Meta (NASDAQ:META) CEO Mark Zuckerberg and Nvidia's Jensen Huang have thrown cold water on the frenzy, warning that useful quantum computing is likely decades away. Yet, Wall Street remains hooked. Analysts like B. Riley's Craig Ellis argue that recent breakthroughslike Google's Willow chipare laying the groundwork for quantum to revolutionize industries, despite the long runway to commercial payoff.

Here's the bottom line: quantum computing is the ultimate moonshot play. The potential is massive, but so are the risks. Rigetti CEO Subodh Kulkarni summed it up perfectly: The road to profitability will be long. For now, it's all about speculation and momentum. If you're diving into this space, buckle upbecause whether this ride ends in the stars or a crash landing, it's going to be one wild journey.