In 2024, nearly any company dealing with quantum computing or artificial intelligence saw its valuations soar. These two fields created some of the hottest investment opportunities in years. And while long-term projections are still rosy in terms of growth, the share prices for many of these next-gen businesses saw a correction in early 2025.

If you've been waiting for a chance to buy into these breakthrough businesses, now might be your chance. One quantum computing stock, in particular, looks very attractive following the pullback.

This quantum computing stock is different

When it comes to quantum computing stocks, D-Wave Quantum Inc (QBTS -1.44%) has some clear differentiators compared to the competition. When you look at the biggest quantum computing companies, the list is topped with big tech companies with big budgets. While none of the big tech competitors specialize solely in quantum computing, they have the research and development strength plus the personnel and partnerships necessary to make big advancements in the space. With a market cap of just $2 billion, D-Wave is clearly a different business. However, there are benefits to its smaller size and singular focus.

D-Wave focuses on a process called quantum annealing, a specific approach to quantum computing. This approach specializes in solving discrete optimization problems, such as finding the best delivery network path for a fulfillment operator or how to minimize material usage for a product manufacturer. Gate-based quantum computing, on the other hand, is what most big tech firms are focusing on. This focus is more versatile, with arguably greater long-term potential. However, D-Wave's approach can be more immediately applied to real-world problems today, which is why it is one of the only quantum computing firms that can actually sell its devices directly to businesses and consumers.

It's still not clear whether quantum annealing or gate-based quantum computing will win out in the long term. But D-Wave's focus on quantum annealing, combined with its early entrance into commercial markets, could give it a long-term edge in this still nascent industry. There are risks here, but if you're looking for big growth potential, I think there's a major reason to buy D-Wave stock today at its $2 billion valuation.

1 Reason to buy D-Wave shares today

Investors looking to buy into D-Wave stock today should be those who are focused on hitting huge home runs. D-Wave's commercialization efforts are just getting started, and its research and development capabilities pale in comparison to big tech competitors. However, some forecasts are calling for at least $1 trillion in additional global GDP by 2035 due to the adoption and accelerated innovation of quantum technologies. Many companies will be needed to supply that growth, and D-Wave's valuation remains only a fraction of its long-term potential should its technological approach prove correct.

QBTS Revenue (TTM) data by YCharts

While I'd love to mark D-Wave as an obvious diamond in the rough, the truth is that it's still too early to tell. Many dominos still need to fall in the quantum computing space for the future to become clear. Which technologies will ultimately win out, who will be the biggest adopters, and when all this growth will finally occur remains unknown. However, that's partially why D-Wave's valuation is where it is despite its early success in what could ultimately become the next big thing following today's AI revolution.

D-Wave stock is a buy right now, but only for very patient investors swinging for the fences.