For the last few months, a technology known as quantum computing has started receiving a lot of attention. As is often the case when new subject matter enters the spotlight, people try to figure out how to invest in this technology,

D-Wave Quantum's valuation model suggests potential 25-35% annual returns in base and bull cases. See why we are neutral on QBTS stock.

The same stocks rallied earlier this week after Microsoft unveiled an initiative meant to familiarize business leaders with quantum systems.

This is what's happening on Wednesday, as quantum computing investors cheer some kind words from Microsoft's strategic missions and technologies chief, Mitra Azizirad, who last night urged quantum investors to get ready, because "we are right on the cusp of seeing quantum computers solve meaningful problems and capture new business value."

Quantum computing is still early, experts say. Finding early stock winners is easier than crunching calculations.

Shares of quantum computing company IonQ ( IONQ 5.48%) raced higher this week. The stock was up by 28.5% as of Friday morning, according to data provided by S&P Global Market Intelligence.