2 Quantum Stocks in Focus After the AI Infrastructure-led Pullback - Yahoo Finance

2 Quantum Stocks in Focus After the AI Infrastructure-led Pullback Urmimala Biswas Tue, July 28, 2026 at 3:00 PM EDT 4 min read GOOG +1.85% NVDA +0.25% QBTS -5.20% IONQ -5.68% The AI infrastructure trade has come under pressure in July as investors reassessed whether hyperscalers can sustain high levels of capital spending while generating attractive returns. Those concerns intensified after Alphabet GOOGL increased its 2026 capital expenditure guidance to $195-$205 billion from $180-$190 billion, highlighting the escalating investment required to build AI infrastructure even as cloud demand remains strong. At the same time, reports that NVIDIA NVDA is considering financing guarantees for OpenAI's massive data center project reinforced concerns over the growing capital intensity of next-generation AI computing. Adding to the pressure, competition from Chinese AI model developers and semiconductor companies fueled fears that returns on AI infrastructure investments could moderate over time. The combination sparked a broad sell-off across AI infrastructure and semiconductor stocks on July 28 as investors rotated out of richly valued AI names.

July Share Price Comparison of Pure-Play Quantum Stocks Zacks Investment Research Image Source: Zacks Investment Research The Sell-Off Reaches Quantum Computing Stocks The risk-off sentiment has also spilled over into quantum computing stocks, as investors broadly reduced exposure to high-growth AI-related technologies regardless of company-specific fundamentals. Month to date, shares of Rigetti Computing RGTI, IonQ IONQ, D-Wave Quantum QBTS and Quantum Computing Inc. or QCi have all retreated sharply (as seen in the above chart) as investors broadly reduced exposure to high-beta AI and emerging technology stocks, even though the sector's long-term commercialization outlook remains intact.

Quantum Fundamentals Remain Intact Despite the Pullback The quantum computing sector's underlying business momentum, however, remains largely intact. Leading quantum computing companies continue to expand commercial bookings, secure government and defense contracts and strong enterprise engagement across optimization, cybersecurity and hybrid quantum-AI applications. Meanwhile, the long-term demand for next-generation computing continues to strengthen as organizations seek solutions for complex optimization, simulation and cryptographic workloads that remain difficult for classical computers. As a result, the recent pullback appears to reflect broader market sentiment rather than a deterioration in quantum fundamentals. With several quantum companies entering the second-quarter earnings season backed by improving commercial momentum, healthy liquidity and expanding customer pipelines, the AI infrastructure-led sell-off could offer an attractive opportunity for long-term investors to buy fundamentally strong quantum stocks at low prices. Story Continues D-Wave Quantum and Rigetti Computing are two quantum computing stocks that combine compelling long-term growth prospects with the potential to deliver strong second-quarter results. QBTS D-Wave Quantum is well positioned for another solid quarter after reporting strong first-quarter bookings of $33.4 million and remaining performance obligations (RPOs) of $42.4 million. The company also ended the first quarter with a strong cash position of $588.4 million, providing ample financial flexibility to support commercialization. Following its acquisition of Quantum Circuits, D-Wave has expanded beyond quantum annealing into gate-model quantum computing, strengthening its competitive position. Supported by growing enterprise adoption and recent high-value commercial contracts, the company appears well placed to sustain its momentum. With shares pulling back ahead of second-quarter earnings, QBTS offers an attractive long-term opportunity.

This Zacks Rank #2 (Buy) stock is projected to report 2026 earnings growth of 75.7% on revenue growth of 63.3%. Sales and EPS Growth Rates (Y/Y%) Zacks Investment Research Image Source: Zacks Investment Research RGTI Rigetti Computing is another compelling quantum stock to watch ahead of the second-quarter earnings release. The company delivered nearly 199% year-over-year revenue growth in the first quarter while maintaining one of the industry's strongest balance sheets, with approximately $569 million in cash, cash equivalents and investments. Rigetti continues to advance its superconducting gate-model quantum roadmap, including the planned launch of its 108-qubit Cepheus-1 system, while expanding collaborations with government, research and commercial customers. As enterprises increasingly explore hybrid quantum-classical computing, Rigetti remains well positioned to benefit from long-term industry adoption. Following the recent sector-wide pullback, RGTI offers an attractive risk-reward profile for long-term investors.

This Zacks Rank #3 (Hold) stock is projected to report 2026 earnings growth of 71.9% on revenue growth of 257.3%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Sales and EPS Growth Rates (Y/Y%) Zacks Investment Research Image Source: Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rigetti Computing, Inc. (RGTI) : Free Stock Analysis Report D-Wave Quantum Inc. (QBTS) : Free Stock Analysis Report NVIDIA Corporation (NVDA) : Free Stock Analysis Report Alphabet Inc. (GOOGL) : Free Stock Analysis Report IonQ, Inc. (IONQ) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com).