<p>人工智能（AI）正在改变全球经济，推动自动化、生产力和创造力的发展。量子计算机可能是解锁下一代 AI 技术的关键，以应对高度复杂的挑战并分析远超经典计算机能力的大规模数据集。</p>
<p><strong>Rigetti Computing</strong>（RGTI 1.05%）和 <strong>D-Wave Quantum</strong>（QBTS -1.50%）是该领域的两位新兴领导者，处于利用重大市场机会的有利位置。这两家公司的股票都大幅上涨，有很多理由相信这种上涨趋势可以持续下去。</p>
<p>让我们探讨一下这两只量子计算 AI 股票中哪一只更适合您目前的投资组合。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NTEvcmlnZXR0aS1jb21wdXRpbmctdmVyc3VzLWQtd2F2ZS1xdWFudHVtLXN0b2Nrcy0yMDI1LmpwZyZ3PTcwMA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NTEvcmlnZXR0aS1jb21wdXRpbmctdmVyc3VzLWQtd2F2ZS1xdWFudHVtLXN0b2Nrcy0yMDI1LmpwZyZ3PTcwMA"/></p>
<p>图片来源：Getty Images。</p>
<h2>Rigetti Computing 的优势</h2>
<p>量子计算机利用量子比特（qubits），这是信息的基本单位，利用量子物理原理，如叠加和纠缠，同时存在于多种状态。这使得量子计算机能够并行处理计算，远远超越传统基于二进制的计算机的能力。</p>
<p>尽管由于量子比特的能力与系统稳定性之间的持续权衡，技术仍在不断完善，但 Rigetti Computing 的超导门技术正在提供越来越多的实际应用案例。</p>
<p>该公司的 84 量子比特 Ankaa-3 系统于 2025 年第一季度推出，标志着行业的一个里程碑，可能会改变机器学习、优化、模拟、密码学和 AI。乐观情绪推动 Rigetti 的股票在截至目前的过去一年中实现了惊人的 937% 的回报。</p>
<p>Rigetti 方法的一个优势在于其模块化设计，具有将多个量子处理单元（QPUs）组合以扩展性能的灵活性。与专注于利用量子比特的单独量子退火方法的 D-Wave Quantum 相比，Rigetti 的基于门的超导架构可能更具多样性和未来适应性，特别是在 AI 应用方面。</p>
<p>尽管面临持续的财务亏损和有限的销售，第一季度的收入仅为 150 万美元（截至 3 月 31 日），但 Ankaa-3 系统预计将捕获未来的需求浪潮。华尔街的估计预测 Rigetti 的收入将从 2025 年的 880 万美元加速增长到 2026 年的 2300 万美元。行业预测估计，到 2040 年，量子计算市场可能增长到 900 亿到 1700 亿美元，为 Rigetti 提供了显著的增长空间。</p>
<p>对于那些长期投资者来说，如果相信 Rigetti Computing 才刚刚起步，并且其量子技术将证明优越，可能会发现该股票是一个值得购买和持有的有吸引力的选择。</p>
<h2>D-Wave Quantum 的优势</h2>
<p>尽管 Rigetti 的潜力令人鼓舞，但 D-Wave Quantum 在商业上领先，增长更为强劲。在该公司第一季度（截至 3 月 31 日），收入达到 1500 万美元，同比增长 509%。这得益于其首个 “Advantage” 量子计算机系统交付给欧洲的高性能计算（HPC）中心，旨在促进 AI 和量子优化应用的突破。</p>
<p>D-Wave Quantum 还受益于其系统通过量子计算即服务（QCaaS）在云计算平台上的可用性。D-Wave 拥有 133 个客户，包括 <strong>Mastercard</strong>、<strong>Accenture</strong> 和 <strong>Lockheed Martin</strong>，正在使用其量子系统。</p>
<p>这些顺风因素使得该股票在过去一年中实现了惊人的 1184% 的回报，使 D-Wave 成为华尔街最热门的股票之一。</p>
<p>然而，股票价格的爆炸性增长意味着 D-Wave Quantum 现在的市销率（P/S）高达 173 倍，这表明投资者为公司未来的预期增长支付了极高的溢价，而这种增长远未确定。相比之下，巨头 AI 领导者 <strong>Nvidia</strong> 的市销率仅为 25.5，看起来相对便宜。然而，如果有一点好消息，D-Wave Quantum 的股票在相对基础上仍然比 Rigetti Computing 的股票便宜，后者的市销率为 289。</p>
<p>相信 D-Wave Quantum 代表计算和人工智能未来的投资者可能会为其高昂的估值辩护，期待其股票在长期内有更多的上涨空间。</p>
<p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/8fa529899daeefe357f1f426c1fd84f9.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/8fa529899daeefe357f1f426c1fd84f9.png"/></p>
<p>QBTS 市销率数据来源于 YCharts。</p>
<h2>决策时刻：不值得追逐</h2>
<p>D-Wave Quantum 的增长势头使其成为我认为比 Rigetti Computing 更好的 AI 股票。然而，其高估值使其在当前价格下成为一种高度投机的投资。考虑到在竞争激烈的行业中其盈利路径的不确定性，预计将继续波动。我会等待价格修正后再进行购买。</p>

RGTI

QBTS

<p>这篇文章比较了 Rigetti Computing 和 D-Wave Quantum 作为量子计算人工智能领域的领先股票。尽管财务亏损，Rigetti 的股票因其创新的 84 量子比特 Ankaa-3 系统而飙升了 937%。D-Wave 的股票则上涨了 1,184%，在商业上处于领先地位并且收入增长强劲，但其市销率较高。作者倾向于 D-Wave 的增长潜力，但由于其投机性估值，建议谨慎投资，建议在价格调整后再考虑投资</p>

<p>Artificial intelligence (AI) is transforming the global economy, driving automation, productivity, and creativity. Quantum computers may hold the key to unlocking the next generation of AI technology to tackle highly complex challenges and analyze massive datasets far beyond the reach of classical computers.</p>
<div class="lb-trans"><p>人工智能（AI）正在改变全球经济，推动自动化、生产力和创造力的发展。量子计算机可能是解锁下一代 AI 技术的关键，以应对高度复杂的挑战并分析远超经典计算机能力的大规模数据集。</p>
</div><p><strong>Rigetti Computing</strong>(RGTI 1.05%) and <strong>D-Wave Quantum</strong>(QBTS -1.50%) are two emerging leaders in the field, well-positioned to capitalize on a significant market opportunity. Shares of both companies have soared, and there are plenty of reasons to believe the rally can keep going.</p>
<div class="lb-trans"><p><strong>Rigetti Computing</strong>（RGTI 1.05%）和 <strong>D-Wave Quantum</strong>（QBTS -1.50%）是该领域的两位新兴领导者，处于利用重大市场机会的有利位置。这两家公司的股票都大幅上涨，有很多理由相信这种上涨趋势可以持续下去。</p>
</div><p>Let's explore which one of these quantum computing AI stocks is the better choice for your portfolio right now.</p>
<div class="lb-trans"><p>让我们探讨一下这两只量子计算 AI 股票中哪一只更适合您目前的投资组合。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MTg4NTEvcmlnZXR0aS1jb21wdXRpbmctdmVyc3VzLWQtd2F2ZS1xdWFudHVtLXN0b2Nrcy0yMDI1LmpwZyZ3PTcwMA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F818851%2Frigetti-computing-versus-d-wave-quantum-stocks-2025.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>The case for Rigetti Computing</h2>
<div class="lb-trans"><h2>Rigetti Computing 的优势</h2>
</div><p>Quantum computers harness qubits, the fundamental units of information, which exploit quantum physics principles, like superposition and entanglement, to exist in multiple states simultaneously. This enables quantum computers to process calculations in parallel, far surpassing the capabilities of traditional binary-based computers.</p>
<div class="lb-trans"><p>量子计算机利用量子比特（qubits），这是信息的基本单位，利用量子物理原理，如叠加和纠缠，同时存在于多种状态。这使得量子计算机能够并行处理计算，远远超越传统基于二进制的计算机的能力。</p>
</div><p>While the technology is still being refined due to the enduring trade-off between qubit power and system stability, Rigetti Computing's superconducting gate-based technology is delivering an expanding number of real-world use cases.</p>
<div class="lb-trans"><p>尽管由于量子比特的能力与系统稳定性之间的持续权衡，技术仍在不断完善，但 Rigetti Computing 的超导门技术正在提供越来越多的实际应用案例。</p>
</div><p>The company's 84-qubit Ankaa-3 system, launched in first-quarter 2025, marks an industry milestone that could transform machine learning, optimization, simulations, cryptography, and AI. Optimism has powered Rigetti's stock to a spectacular 937% return over the past year as of this writing.</p>
<div class="lb-trans"><p>该公司的 84 量子比特 Ankaa-3 系统于 2025 年第一季度推出，标志着行业的一个里程碑，可能会改变机器学习、优化、模拟、密码学和 AI。乐观情绪推动 Rigetti 的股票在截至目前的过去一年中实现了惊人的 937% 的回报。</p>
</div><p>An advantage to Rigetti's approach is its modular design, with the flexibility to combine multiple quantum processing units (QPUs) to scale performance. Compared to D-Wave Quantum, which specializes in a separate quantum annealing approach to leverage qubits, Rigetti's gate-based superconducting architecture may be more versatile and future-proof, particularly for AI applications.</p>
<div class="lb-trans"><p>Rigetti 方法的一个优势在于其模块化设计，具有将多个量子处理单元（QPUs）组合以扩展性能的灵活性。与专注于利用量子比特的单独量子退火方法的 D-Wave Quantum 相比，Rigetti 的基于门的超导架构可能更具多样性和未来适应性，特别是在 AI 应用方面。</p>
</div><p>Despite recurring financial losses and limited sales with first-quarter revenue of just $1.5 million for the period ended March 31, the Ankaa-3 system is expected to capture a wave of demand going forward. Wall Street estimates project Rigetti's revenue to accelerate from $8.8 million in 2025 to $23 million in 2026. Industry forecasts estimate that the quantum computing market could grow to $90 billion to $170 billion by 2040, highlighting a significant growth runway for Rigetti.</p>
<div class="lb-trans"><p>尽管面临持续的财务亏损和有限的销售，第一季度的收入仅为 150 万美元（截至 3 月 31 日），但 Ankaa-3 系统预计将捕获未来的需求浪潮。华尔街的估计预测 Rigetti 的收入将从 2025 年的 880 万美元加速增长到 2026 年的 2300 万美元。行业预测估计，到 2040 年，量子计算市场可能增长到 900 亿到 1700 亿美元，为 Rigetti 提供了显著的增长空间。</p>
</div><p>Investors with a long-term perspective who believe Rigetti Computing is just getting started and that its quantum technology will prove superior may find the stock a compelling option to buy and hold.</p>
<div class="lb-trans"><p>对于那些长期投资者来说，如果相信 Rigetti Computing 才刚刚起步，并且其量子技术将证明优越，可能会发现该股票是一个值得购买和持有的有吸引力的选择。</p>
</div><h2>The case for D-Wave Quantum</h2>
<div class="lb-trans"><h2>D-Wave Quantum 的优势</h2>
</div><p>As promising as Rigetti's potential may be, D-Wave Quantum has a commercial lead, generating stronger growth. In the company's first quarter (for the period ended March 31), revenue reached $15 million, climbing by 509% year over year. This was driven by the delivery of its first &#34;Advantage&#34; quantum computer system to a high-performance computing (HPC) center in Europe, intended to facilitate breakthroughs in AI and quantum optimization applications.</p>
<div class="lb-trans"><p>尽管 Rigetti 的潜力令人鼓舞，但 D-Wave Quantum 在商业上领先，增长更为强劲。在该公司第一季度（截至 3 月 31 日），收入达到 1500 万美元，同比增长 509%。这得益于其首个 “Advantage” 量子计算机系统交付给欧洲的高性能计算（HPC）中心，旨在促进 AI 和量子优化应用的突破。</p>
</div><p>D-Wave Quantum is also benefiting from the availability of its systems on cloud-computing platforms through quantum computing as-a-service (QCaaS). D-Wave has 133 customers, including <strong>Mastercard</strong>, <strong>Accenture</strong>, and <strong>Lockheed Martin</strong>, using its quantum systems.</p>
<div class="lb-trans"><p>D-Wave Quantum 还受益于其系统通过量子计算即服务（QCaaS）在云计算平台上的可用性。D-Wave 拥有 133 个客户，包括 <strong>Mastercard</strong>、<strong>Accenture</strong> 和 <strong>Lockheed Martin</strong>，正在使用其量子系统。</p>
</div><p>These tailwinds have carried the stock to a whopping 1,184% return over the past year, making D-Wave one of the hottest stocks on Wall Street.</p>
<div class="lb-trans"><p>这些顺风因素使得该股票在过去一年中实现了惊人的 1184% 的回报，使 D-Wave 成为华尔街最热门的股票之一。</p>
</div><p>Yet, the explosive stock price gains mean that D-Wave Quantum now trades at an eye-watering 173 times revenue as a price-to-sales (P/S) ratio, suggesting investors are paying an extreme premium for the company's expected growth far out into the future, which is far from certain. For comparison, mega-cap AI leader <strong>Nvidia</strong> looks like a bargain at a P/S ratio of just 25.5. Yet, if there is a silver lining, D-Wave Quantum stock is still less expensive on a relative basis than shares of Rigetti Computing, which is trading at a P/S ratio of 289.</p>
<div class="lb-trans"><p>然而，股票价格的爆炸性增长意味着 D-Wave Quantum 现在的市销率（P/S）高达 173 倍，这表明投资者为公司未来的预期增长支付了极高的溢价，而这种增长远未确定。相比之下，巨头 AI 领导者 <strong>Nvidia</strong> 的市销率仅为 25.5，看起来相对便宜。然而，如果有一点好消息，D-Wave Quantum 的股票在相对基础上仍然比 Rigetti Computing 的股票便宜，后者的市销率为 289。</p>
</div><p>Investors convinced that D-Wave Quantum represents the future of computing and artificial intelligence could justify its pricey valuation, with an expectation that its shares have more upside in the long run.</p>
<div class="lb-trans"><p>相信 D-Wave Quantum 代表计算和人工智能未来的投资者可能会为其高昂的估值辩护，期待其股票在长期内有更多的上涨空间。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://media.ycharts.com/charts/8fa529899daeefe357f1f426c1fd84f9.png" alt="" original-src="https://media.ycharts.com/charts/8fa529899daeefe357f1f426c1fd84f9.png"/></p>
<p>QBTS PS Ratio data by YCharts.</p>
<div class="lb-trans"><p>QBTS 市销率数据来源于 YCharts。</p>
</div><h2>Decision time: Not worth chasing</h2>
<div class="lb-trans"><h2>决策时刻：不值得追逐</h2>
</div><p>D-Wave Quantum's growth momentum makes it my pick as the better AI stock over Rigetti Computing. However, its high valuation renders it a highly speculative investment at current prices. Given uncertainties around its path to profitability in a competitive industry, expect continued volatility. I'd wait for a price correction before buying.</p>
<div class="lb-trans"><p>D-Wave Quantum 的增长势头使其成为我认为比 Rigetti Computing 更好的 AI 股票。然而，其高估值使其在当前价格下成为一种高度投机的投资。考虑到在竞争激烈的行业中其盈利路径的不确定性，预计将继续波动。我会等待价格修正后再进行购买。</p>
</div>

哪只人工智能股票更好：Rigetti Computing 与 D-Wave Quantum