Former hedge fund manager Martin Shkreli cast doubt on recent quantum computing advances and stock valuations, particularly targeting IonQ Inc. IONQ and Rigetti Computing Inc. RGTI in a series of posts on X on Wednesday.
What Happened: “IONQ and RGTI are both worth low single digits vs. their $33 and $10 prices today. quantum computing is not commercially viable in any serious way,” Shkreli wrote, suggesting Microsoft Corp.’s MSFT recent quantum announcement could negatively impact both companies’ market positions.
His comments come as Microsoft unveiled its Majorana 1 quantum chip, featuring a new Topological Core architecture that the company claims could eventually scale to one million qubits. The chip utilizes topoconductor technology, enabling more reliable and scalable quantum bits through controlled Majorana particles.
Shkreli claimed there was an intense effort to prevent Microsoft’s quantum paper from being published, cautioning that the term “breakthrough” should be used with caution.
Despite Shkreli’s bearish outlook, both quantum computing stocks have seen remarkable gains. IONQ shares have surged 221% over the past year, while RGTI stock has soared more than 572%. However, Shkreli previously pointed to operational challenges, sharing an Amazon Web Services Braket dashboard showing multiple quantum processing units offline from both companies.
Why It Matters: The debate over quantum computing’s commercial viability extends beyond Shkreli’s criticism. Nvidia Corp. NVDA CEO Jensen Huang has suggested practical quantum applications may be 15 to 20 years away, while Google, a subsidiary of Alphabet Inc. GOOGL GOOG, maintains a more optimistic five-year timeline with its Willow quantum chip.
Microsoft’s entry into the quantum computing race has earned backing from the Defense Advanced Research Projects Agency (DARPA). The company has also partnered with Quantinuum and Atom Computing, integrating these quantum capabilities into its Azure cloud platform.
Shkreli, who gained notoriety as “Pharma Bro” and was convicted of securities fraud in 2017, remains banned from the pharmaceutical industry but has recently emerged as a vocal critic in the quantum computing sector.
Read Next:
Image Via Shutterstock
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
