Valued at a market capitalization of just $116,000, Zapata Computing (ZPTA) may appear tempting to investors. Its business touched quantum computing software solutions, such as through its Orquestra product.

Toward the end of 2024, shares of quantum computing stocks such as IonQ, D-Wave Quantum, Quantum Computing, and Rigetti Computing all experienced significant run-ups. Curiously, each of these companies was a penny stock at the beginning of 2024 -- only to see its valuation soar well into the billions during a rather short time period.

This is precisely what happened with quantum computing stocks in late 2024. Stocks like Rigetti (NASDAQ: RGTI), Quantum Computing (NASDAQ: QUBT), and IonQ (NYSE: IONQ) have shot up hundreds of percentage points in the last six months,

Following tech giants such as Amazon (AMZN) and Nvidia (NVDA), enterprise software major SAP (SAP) has also joined the voices making a case for quantum computing. Sounding bullish about the technology,

Alphabet subsidiary Google recently announced two major technical achievements with its Willow quantum computing chip. In response to the news, shares of Rigetti Computing (NASDAQ: RGTI) and D-Wave Quantum (NYSE: QBTS) during the next three weeks advanced 280% and 110%,