The quantum computing industry stands at a fascinating inflection point. While widespread practical applications remain years away, investors have substantially bid up quantum computing stocks in 2024.

Quantum Computing shares are down in premarket trading after announcing a dual securities offering expected to raise $50 million for advancing its quantum technologies and expanding its U.S.-based Photonic Chip Foundry.

D-WAVE QUANTUM QBTS shares have outperformed the Zacks Computer & Technology sector and its peers International Business Machines IBM and Rigetti Computing RGTI in the year-to-date period. While QBTS has surged 470.