'Pharma Bro' Martin Shkreli Rips Into Quantum Stocks: 'Nothing Is Happening'—Accuses IONQ, D-Wave Quantum, And Others Of Revenue Gimmicks

Former hedge fund manager Martin Shkreli took aim at the quantum computing industry again on Monday, posting a series of critical remarks on X.

What Happened: Shkreli, widely known as “Pharma Bro” for his controversial role in the pharmaceutical industry, dismissed the commercial promise of quantum computing as being several decades away, while also accusing publicly traded quantum firms of inflating their financial narratives to mislead investors.

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“[The] Global Risk Institute interviewed 24 quantum computing experts who agreed it's 20-30 years before we see RSA2048 broken. 20-30 years before quantum works. I say 50,” Shkreli says, referencing the widely used encryption standard often cited as a benchmark for quantum disruption, along with a chart shared by the Global Risk Institute.

In a follow-up Tweet, Shkreli took on several publicly traded quantum computing stocks, starting with Rigetti Computing Inc. RGTI, which announced its first quarter results on Monday, posting a 51.77% year-over-year decline in revenues. “This is the real state of affairs in quantum compute,” he says, “nothing is happening.”

In the same post, he attacked others such as IONQ Inc. IONQ, which he says is “making up” revenues via “desperate acquisitions. Followed by D-Wave Quantum Inc. QBTS and Quantum Computing Inc. QUBT, which he accuses of getting lucky and selling a single machine, or generating revenue via “alleged fraud.”

Benzinga reached out to IONQ, D-Wave Quantum, Rigetti, and Quantum Computing, and is awaiting their response.

Why It Matters: Early this year, Shkreli published a comprehensive short thesis on quantum computing stocks on his X account, forecasting over 90% downsides for several stocks. The stocks covered in the thesis have witnessed a pullback since then.

He followed up on this a few weeks later by calling IonQ and Rigetti the “best shorts of his career,” saying that “we are further away from quantum than even I thought.”

More recently, Shkreli slammed Microsoft Corp. MSFT for its quantum chip breakthrough, Majorna 1. He added that the term “breakthrough” should be used with caution.

Following a strong performance in 2024, most quantum computing stocks have witnessed steep declines year-to-date in 2025, with D-Wave Quantum being the sole exception.

Rigetti Computing shows strong momentum according to Benzinga Edge Stock Rankings, but how does it compare with IONQ, D-Wave, and Quantum Computing? Sign up for Benzinga Edge to find out.

Photo Courtesy: Bartlomiej K. Wroblewski On Shutterstock.com

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