Investing is sometimes about weighing the potential reward versus the risks involved. Sure, IonQ could become a powerhouse in quantum computing. The issue is that the stock is already valued as if it's a given when it's not. If things don't work out as investors hope, the stock has an immense downside from its current price.

Most of the water cooler discussion these days among investors discussing the highest-flying stocks continues to be around artificial intelligence stocks, or companies leveraging such technology for growth.

IonQ (NYSE:IONQ) has raised over $372M through its “at-the-market” equity offering program. The quantum computing firm sold 16,038,460 shares of its common stock for around $372.6M, netting aggregate proceeds of ~$360M.