IonQ, Inc.

Key Points
Pure-play quantum stocks have delivered monstrous returns over 12 months, as governments see encryption vulnerability as a security priority.
"Q-Day" (when quantum computing breaks most standard encryption methods), now estimated for 2030, is accelerating spending.
Despite steep losses, billion-dollar funding and technical breakthroughs signal that quantum computing is moving from research to commercial deployment.
Industry experts still treat quantum computing as speculative science, but the smartest capital allocators are betting billions that it's the next trillion-dollar frontier. BlackRock, Temasek, and Nvidia just backed PsiQuantum's $1 billion funding round at a $7 billion valuation. When Nvidia, which saw the potential of artificial intelligence (AI) before anyone else, starts writing checks to quantum start-ups, it's validation of the ecosystem.
The disconnect between public market skepticism and private market euphoria creates opportunity. Governments are treating quantum supremacy as existential, terrified of losing encryption advantage when "Q-Day" arrives.
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That's the point when quantum computers become powerful enough to break widely used encryption standards. Enterprises are already paying for quantum services today, proving demand exists before the technology even matures.
The three pure-play quantum stocks -- IonQ (NYSE: IONQ), D-Wave Quantum (NYSE: QBTS), and Rigetti Computing (NASDAQ: RGTI) -- have delivered staggering returns over the trailing 12 months, respectively, underscoring Wall Street's sudden interest in this group.
Read on to find out more about these top quantum computing stocks.
The acquisition engine pushing quantum infrastructure
IonQ agreed to acquire Oxford Ionics for $1.075 billion and received U.K. Investment Security Unit approval in September. Oxford Ionics' Electronic Qubit Control integrates ion-trap control onto a classical chip, strengthening IonQ's trapped-ion road map.
The company also moved to build quantum networking via acquisitions of Lightsynq and Capella, and in July, it completed a $1 billion equity offering, bringing pro forma cash and investments to about $1.6 billion as of July 9.
With strong cash reserves and aggressive acquisitions building both hardware and quantum networking infrastructure, IonQ scans as a top infrastructure play in the quantum computing landscape.
The contrarian play making money
D-Wave Quantum skipped the race for universal quantum computers and doubled down on quantum annealing, a practical approach to optimization problems that enterprises can use today. Its new Advantage2 system (Zephyr topology) increases qubit connectivity from 15 to 20, improving embeddings and solution quality for supply chains, portfolio management, and research and development.
Over the last four quarters, more than 100 customers generated revenue, proving demand exists beyond pilots. With approximately $819 million in cash as of June 30, 2025, D-Wave has a runway to keep building. It isn't profitable yet, but it's the contrarian quantum play with real systems, real customers, and early commercial traction.
The pure-play on quantum supremacy
Rigetti Computing is the high-stakes quantum play with one of the boldest road maps. The company recently hit a technical milestone: Its Cepheus-1-36Q system, launched in August, achieved about 99.5% median two-qubit gate fidelity, halving the two-qubit error rate versus the prior Ankaa-3 system.
With $571.6 million in cash and investments as of June 30 -- after completing a $350 million at-the-market equity offering in the second quarter -- Rigetti has a long runway to push its superconducting, chiplet-based scaling strategy.
For investors, this is high risk, high reward: If even one road map breakthrough sticks, upside could be substantial. The company's vertical integration -- allowing it to design and fabricate quantum chips in-house at its Fab-1 facility -- gives complete control over innovation cycles.
The quantum leap worth taking
Billion-dollar funding rounds, rapid regulatory clearances, defense urgency around encryption, and (most crucially) the number of paying customers are all stacking up. These dynamics echo early AI investments circa 2015: outrageous until they weren't.
The risks remain obvious: The technology could stay perpetually "five years away" while conventional systems keep advancing. But with businesses deploying quantum computing for optimization, governments treating it as strategic, and big tech validating the ecosystem, the technology is moving from theoretical to tactical.
IonQ offers infrastructure dominance, D-Wave provides near-term revenue, and Rigetti has moonshot upside. Buying a small position in each of these names and holding them indefinitely could generate life-changing returns, given the tech's awe-inspiring potential.
Should you invest $1,000 in IonQ right now?
Before you buy stock in IonQ, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
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*Stock Advisor returns as of October 27, 2025
George Budwell has positions in BlackRock, D-Wave Quantum, IonQ, Nvidia, and Rigetti Computing. The Motley Fool has positions in and recommends Nvidia. The Motley Fool recommends BlackRock. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Quantum Computing Stocks to Buy Now and Hold Forever

Key Points
IonQ's CEO believes its technology will replace GPUs.
Nvidia is slated to rapidly grow thanks to increased data center spending.
Nvidia (NASDAQ: NVDA) has been the undisputed king of AI investing, although some competition has started to emerge recently. However, these are traditional computing companies, not quantum computing businesses like IonQ (NYSE: IONQ). Quantum computing stocks have heavily sold off in the past few days, making them far more attractive than they were just a few weeks ago.
With quantum computing potentially threatening traditional computing's dominance in the artificial intelligence sector, is IonQ the better investment over the long term versus Nvidia?
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IonQ made a bold prediction about its future
IonQ's CEO Niccolo de Masi stated in an interview that he believes quantum processing units will eventually replace graphics processing units (GPUs) in accelerated computing applications. He compared the rise of quantum processing units to how GPUs replaced CPUs in situations where more computing power was needed.
That's a bold proclamation, but it could have huge ramifications if it pans out. Nvidia is the world's largest company and is putting up huge growth figures because its GPUs are in such high demand for AI computing applications. If IonQ could rise to replace Nvidia, that would result in monstrous returns that would turn meager investments in IonQ into more than a million dollars.
But is this realistic?
There's no guarantee IonQ will be the winner
The AI computing market is massive. Nvidia projected that global data center capital expenditures will total $600 billion in 2025, but rise to $3 trillion to $4 trillion in annual spending by 2030. That's a monstrous market, and if Nvidia can keep its market share, it will be slated to deliver massive growth for investors.
But could IonQ take some of that massive buildout figure? Likely not. IonQ and its quantum computing peers point toward 2030 as the turning point for the commercial viability of quantum computing. This means that most quantum computing companies won't see significant sales until this time frame. That's already after the bulk of the AI infrastructure has been built out, so it's unlikely that IonQ will be able to have a massive effect on the AI arms race, although it could allow companies to push into the next frontier of AI in the years following.
From a market standpoint, one of IonQ's competitors, Rigetti Computing (NASDAQ: RGTI), notes that it expects a $15 billion to $30 billion annual market to emerge between 2030 and 2040. IonQ believes the total addressable quantum computing market will reach about $87 billion by 2035 (that's a cumulative figure). Nvidia generated $41 billion in data center GPU sales alone during Q2, so it's clear that Nvidia will likely generate more money than these quantum computing companies even a decade from now.
Furthermore, there's no guarantee that IonQ's approach will be the ultimate winner. While IonQ is a leader now, it's possible that it loses that leadership position over the net in the future.
Additionally, there are many potential competitors in the quantum computing arms race, and companies like Alphabet have nearly unlimited resources to spend on this technology, unlike IonQ. It's an uphill battle for IonQ, but if it pans out, it will still make investors a ton of money, although there's no guarantee of success.
Between Nvidia and IonQ, I think there's a clear winner as to which stock is the better AI computing play: Nvidia. Nvidia is still rapidly growing and making money from each GPU it sells. We're still a ways out from quantum computing becoming relevant, even though IonQ looks like a promising pick in this space. IonQ is a long-shot investment that could pay off, but if the AI market is as large as Nvidia says it is (alongside many other companies involved in this space), Nvidia will pay off.
Should you invest $1,000 in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 27, 2025
Keithen Drury has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Is IonQ or Nvidia the Better AI Computing Stock to Buy Now?

Key Points
Alphabet's technology is best-in-class.
Alphabet has massive cash flow to finance its quantum computing investments.
Quantum computing stocks were all the rage on Wall Street up until a few days ago. Now, quantum computing stocks have sustained heavy losses as investors readjust their expectations of when quantum computing could become a viable alternative.
The most popular quantum computing stocks by far are pure plays like IonQ (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), and D-Wave Quantum (NYSE: QBTS). However, these three are long-shot investments that may or may not pay off.
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Instead of this trio, I think investors should look at an under-the-radar quantum computing alternative: Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). While Alphabet may not be an under-the-radar company in general (it's the fourth-largest company in the world by market cap), it has mostly been forgotten about in the quantum computing realm. I've got three reasons investors should consider Alphabet as a quantum computing investment, and I wouldn't be surprised to see Alphabet outperform some of its quantum computing pure-play competition over the next few years.
1. Alphabet is a leader in quantum computing
While many point toward the quantum computing pure plays as being leaders in the quantum computing industry, Alphabet challenged that notion a few days ago when it released some of the latest results of its Willow quantum computing chip.
On Oct. 22, Google announced that its Willow quantum computing chip successfully ran a verifiable algorithm on its quantum computer at a speed 13,000 times faster than a traditional computer. It did this on a 105-qubit system, one of the largest and most powerful currently known. For reference, Rigetti Computing made headlines when two companies purchased its Novera quantum computing system, which has four sets of nine qubits.
Alphabet is clearly a leader in this field, and it has the results to prove it. Alphabet may wipe the floor with its competition, making it the smartest quantum computing company to invest in.
2. Alphabet has plenty of cash to fund its quantum computing investments
Unlike its quantum computing pure-play competition, Alphabet has nearly unlimited resources to pour into its quantum computing aspirations. This isn't a cheap technology by any means, so having massive cash flow to fund research is critical. Over the past 12 months, Alphabet has generated around $66 billion in free cash flow.
It's using a huge chunk of that for building out artificial intelligence data centers, but it could also shift those funds to finance its quantum aspirations as well. For reference, IonQ's revenue for Q2 totaled $20.7 million, and it currently has just over half a billion in cash and short-term investments on its balance sheet.
While David and Goliath stories exist for a reason, this seems to be one where David doesn't have enough funding to compete with the Goliath in the industry. I think this gives Alphabet a serious competitive advantage, and it's one that the pure plays may not be able to overcome.
3. Alphabet isn't an all-or-nothing quantum computing play
Lastly, there's no guarantee that quantum computing will work out. Although many companies are starting to prove meaningful applications, it's unknown how large the real-world application truly is for quantum technology. Additionally, these pure-play quantum computing investments are just that, pure plays. It's an all-or-nothing bet that they will achieve quantum computing supremacy. If they don't succeed, there's a significant chance of the investment going to $0.
Alphabet isn't like that. It has a strong advertising business based on its Google family of products, as well as a strong cloud computing offering. If quantum computing doesn't pan out or another competitor beats out Alphabet, it will still be a viable investment. This significantly reduces the risk of the overall investment, making me more confident in backing Alphabet as a quantum computing investment than any other stock in this industry.
Should you invest $1,000 in Alphabet right now?
Before you buy stock in Alphabet, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Alphabet wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 27, 2025
Keithen Drury has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Reasons to Buy This Under-the-Radar Quantum Computing Stock Today

Key Points
The long-term impact of quantum computing could be several trillion dollars.
IonQ has been developing its technology for 30 years.
The company says its push into quantum networking will double the company's addressable market.
Quantum computing is expected to be the next wave of innovation beyond artificial intelligence (AI) that could lead to major technological breakthroughs that traditional computers are not capable of executing. The enthusiasm for its potential has sent share prices of IonQ (NYSE: IONQ) soaring more than 300% over the past year.
Given that steep (and quick) rise, it's natural for investors to feel like they have missed their chance with such a stock, but great companies don't just double or triple; they deliver multibagger returns over decades. IonQ might just be getting started.
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IonQ just recently made a huge breakthrough that could lead to tremendous growth over the next decade and beyond.
IonQ's opportunity could be bigger than anyone thinks
IonQ has been developing quantum computing for 30 years, and it could be on the verge of accelerating the commercialization of its technology. The goal is to expand into quantum networking, which could unlock tremendous upside for the company's revenue.
In September, IonQ announced it had successfully transformed visible-wavelength photons into telecom wavelengths. This paves the way for isolated quantum computers separated by long distances to link together over existing fiber optic networks, ultimately paving the way for a quantum internet.
The long-term economic impact of quantum computing is estimated to eventually reach into the trillions. He didn't provide a specific estimate, but CEO Niccolo de Masi recently said quantum networking will at least double the company's market opportunity.
Given the transformative effect this could have on the economy, IonQ's current $18 billion market cap doesn't appear all that expensive, but it is currently trading at a very high multiple of its trailing revenue. Investors will have to be prepared for volatility in the share price, but for an investor who can patiently hold the stock for 10 years, it is not too late to invest in IonQ.
Should you invest $1,000 in IonQ right now?
Before you buy stock in IonQ, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 27, 2025
John Ballard has positions in IonQ. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Think It's Too Late to Buy IonQ Stock? Here's the 1 Reason Why There's Still Time.

The NASDAQ 100 Pre-Market Indicator is up 334.92 to 25,693.08. The total Pre-Market volume is currently 366,670,547 shares traded.
The following are the most active stocks for the pre-market session:
Beyond Meat, Inc. (BYND) is -0.095 at $2.09, with 28,119,095 shares traded. BYND's current last sale is 104.5% of the target price of $2.
Direxion Daily TSLA Bull 2X Shares (TSLL) is +0.5 at $20.09, with 9,921,518 shares traded. This represents a 219.4% increase from its 52 Week Low.
ProShares UltraPro Short QQQ (SQQQ) is -0.52 at $13.44, with 7,364,217 shares traded., following a 52-week high recorded in prior regular session.
Avidity Biosciences, Inc. (RNA) is +21.29 at $70.44, with 5,655,337 shares traded. As reported in the last short interest update the days to cover for RNA is 13.498506; this calculation is based on the average trading volume of the stock.
Bitfarms Ltd. (BITF) is +0.23 at $4.84, with 5,242,901 shares traded. As reported by Zacks, the current mean recommendation for BITF is in the "buy range".
NVIDIA Corporation (NVDA) is +4.14 at $190.40, with 4,492,288 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
NIO Inc. (NIO) is +0.19 at $7.09, with 2,392,655 shares traded. NIO's current last sale is 103.5% of the target price of $6.85.
Grupo Supervielle S.A. (SUPV) is +2.4 at $9.13, with 2,061,605 shares traded. SUPV's current last sale is 110% of the target price of $8.3.
IonQ, Inc. (IONQ) is +2.8002 at $63.10, with 1,252,917 shares traded., following a 52-week high recorded in prior regular session.
GameStop Corporation (GME) is +1.2 at $24.50, with 1,250,543 shares traded.
D-Wave Quantum Inc. (QBTS) is +1.35 at $34.00, with 1,244,853 shares traded., following a 52-week high recorded in prior regular session.
QuantumScape Corporation (QS) is +0.0804 at $16.90, with 1,182,954 shares traded. QS's current last sale is 241.43% of the target price of $7.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pre-Market Most Active for Oct 27, 2025 : BYND, TSLL, SQQQ, RNA, BITF, NVDA, NIO, SUPV, IONQ, GME, QBTS, QS

Key Points
Google just announced a new breakthrough with its Willow quantum chip.
Pure-play quantum stocks fell on the news.
Investors seem to be sensing a change in the sector.
Quantum computing stocks have been some of the biggest winners over the last year.
In fact, it's hard to find a group of stocks that have done better than the four development-stage companies: IonQ (NYSE: IONQ), D-Wave Quantum (NYSE: QBTS), Rigetti Computing (NASDAQ: RGTI), and Quantum Computing (NASDAQ: QUBT). As you can see from the chart below, these four stocks have skyrocketed over the last year.
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A basket of all four of these stocks would have returned a whopping 1,600% over the last year even though they still have minimal revenue.
While the pure-play quantum computing companies have yet to generate significant financial results, excitement is building for the new technology. In the wake of the breakthrough in artificial intelligence (AI), investors are looking for the next potentially disruptive technology, and quantum computing has caught their eye.
Quantum computing, based on quantum physics, is much more powerful than traditional computing. Attention on this new technology has soared as a number of tech luminaries, including Nvidia CEO Jensen Huang, have acknowledged that useful quantum computing could be here sooner than expected. A milestone achieved by Alphabet's (NASDAQ: GOOG) (NASDAQ: GOOGL) Willow quantum chip last December also helped drive interest in quantum computing and sent those four stocks soaring.
Now, it seems that Google has taken another step forward in its quantum ambitions.
Google's latest quantum breakthrough
Nearly a year ago, Google said that its Willow quantum chip achieved a benchmark computation in less than five minutes that would have taken one of today's fastest supercomputers 10 septillion years.
On Wednesday, Google said that Willow had demonstrated "the first-ever algorithm to achieve verifiable quantum advantage on hardware." Google said that the breakthrough is a significant step toward the first real-world application for the technology.
The algorithm, which it calls Quantum Echoes, is useful in learning how systems in nature are structured, including molecules, magnets, and black holes. Willow also runs the algorithm 13,000 times faster than a comparable algorithm would on one of the world's fastest supercomputers. It's the first time in history that a quantum computer has run a verifiable algorithm faster than conventional supercomputers.
In a separate experiment, Google also developed a new technique it calls a "molecular ruler" that can measure longer distances than conventional methods used today.
What it means for pure-play quantum stocks
As you might expect, the pure-play quantum computing stocks didn't react well to the news, as the development seems to show them getting left behind by Google. All four of the stocks were down at least 7% on Wednesday.
For all the excitement around the quantum computing stocks, Alphabet still looks like the clear leader in the industry. Not only is it making a significant scientific achievement with Willow, but the chip also has more qubits, a measure of quantum computing power, than any quantum processors used by the smaller companies.
Willow has 105 qubits, while IonQ's biggest processor, Forte, has 36 qubits. IonQ and its peers are working on developing computers with thousands of qubits, but Google clearly has the lead for now.
What's also notable about Wednesday's sell-off is that these stocks had the opposite response when the original Willow news was announced last December. Quantum computing stocks are much more valuable now, but investors no longer see Google pioneering a market that smaller operators will benefit from. Instead, they seem to sense that a bubble has been created and that Google's technological achievements don't directly benefit companies like IonQ.
The best quantum computing stock to buy
At this stage, Alphabet looks like the best quantum computing stock to buy, hands down. At a market cap of around $3 trillion, it won't deliver the kind of multibagging returns that the pure plays are capable of, but it's the clear technological leader in quantum computing right now. It has the deep pockets and business relationships to continue funding its ambition and to find customers, and it has a track record of success in emerging technologies with products like Waymo autonomous vehicles and its Gemini AI chatbot.
That may be disappointing to investors in the earlier-stage companies, but these four companies now have a combined market cap of nearly $50 billion with little in the way of revenue.
If you're looking for a smart quantum computing stock to buy, Alphabet is the best choice. Not only is it the pacesetter in technological development in quantum computing, but it also has much less downside risk than stocks like IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing.
It's already one of the most profitable companies in the world. Quantum computing could make it even more powerful.
Should you invest $1,000 in IonQ right now?
Before you buy stock in IonQ, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 20, 2025
Jeremy Bowman has positions in Nvidia. The Motley Fool has positions in and recommends Alphabet and Nvidia. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

What's the Best Quantum Computing Stock to Buy? It Just Became Crystal Clear (Hint: It's Not IonQ).

Key Points
The Trump administration is reportedly in discussions with quantum computing companies D-Wave, IonQ, and Rigetti about taking an equity stake in exchange for federal funding.
Grand View Research estimates businesses will spend 600 times more on cloud computing (versus quantum computing) in 2030.
D-Wave, IonQ, and Rigetti burned between two and six times as much cash as they earned in revenue during the past year, and all three stocks trade at absurdly expensive valuations.
The Trump administration has already taken a stake in Intel and three minerals companies, and it recently turned its attention to quantum computing. The Commerce Department is reportedly in talks with D-Wave Quantum (NYSE: QBTS), IonQ (NYSE: IONQ), and Rigetti Computing (NASDAQ: RGTI) about the government receiving an equity position in exchange for funding, according to The Wall Street Journal.
Should you buy the stocks?
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Quantum computing may be a decade away (or more) from mainstream utility
Quantum computers cannot speed up everyday computing tasks, but they can solve some problems that would be very time-consuming (if not impossible) for classical computers. For instance, quantum computers are particularly good at optimizing processes with many complex variables, which has use cases across drug discovery, finance, materials science, and supply chain management.
However, quantum computing is still experimental and most organizations would get little (if any) value from the technology today. Quantum computers are not only expensive, but also difficult to scale and limited by high error rates. Alphabet CEO Sundar Pichai recently said practical applications are at least five to 10 years away, and he compared the state of the industry to artificial intelligence in the 2010s.
Nvidia CEO Jensen Huang has made similar comments, estimating commercially useful quantum computers could be two decades away. Investors should consider this context: The cloud computing market is forecast to reach $2.4 trillion by 2030, but the quantum computing industry will be worth just $4 billion (600 times less), according to Grand View Research.
Valuations across the quantum computing industry are sky-high
D-Wave, IonQ, and Rigetti are deeply unprofitable. Over the past year, the first two companies burned twice as much cash as they earned in revenue, and Rigetti burned six times as much cash. The other problem is their valuations. All three stocks trade at price-to-sales (PS) ratios that are nonsensical when compared to forecasted sales growth.
D-Wave Quantum currently trades at 500 time sales. Wall Street expects sales to grow at 57% annually to reach $109 million in 2028. If that happens, the stock would still trade at 103 times sales even with no share price appreciation.
IonQ currently trades at 340 times sales. Wall Street expects sales to grow at 90% annually to reach $492 million in 2028. If that happens, the stock would still trade at 36 times sales even with no share price appreciation.
Rigetti Computing current trades at 1,590 times sales. Wall Street expects sales to grow at 90% annually to reach $75 million in 2028. If that happens, the stock would still trade at 168 times sales even with no share price appreciation.
Here is context for those valuations: Currently, 498 stocks in the S&P 500 have PS multiples below 35. That means D-Wave, IonQ, and Rigetti would still be very expensive three-plus years from now even if their stock prices stay the same. And even that disappointing outcome is contingent upon these companies meeting very high expectations on Wall Street.
Better buying opportunities will likely to arise in the future
Quantum computing promises to be a transformative technology. But with mainstream use cases still several years away and valuations inflated across the industry, D-Wave, IonQ, and Rigetti are almost certainly in a bubble right now. The stocks may keep climbing in the near term, especially if the Trump administration takes a stake, but a major crash is almost unavoidable at some point.
Anecdotally, Nvidia dominates the artificial intelligence infrastructure market today, but its share price dropped more than 50% on three separate occasions during the last 15 years. All three crashes were fantastic buying opportunities in hindsight. So, investors who want exposure to quantum computing should wait for a similar opportunity with D-Wave, IonQ, and/or Rigetti.
Should you invest $1,000 in Rigetti Computing right now?
Before you buy stock in Rigetti Computing, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Rigetti Computing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 20, 2025
Trevor Jennewine has positions in Nvidia. The Motley Fool has positions in and recommends Alphabet, Intel, and Nvidia. The Motley Fool recommends the following options: short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Quantum Computing Stocks D-Wave, IonQ, and Rigetti Talk With Trump Administration About Equity Stakes. Is It Time to Buy?

Key Points
Shares of IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. have surged by up to 2,720% over the trailing year.
Though quantum computing pure-play stocks are popular among investors, they're rife with historical red flags.
There's a far more "magnificent" way to gain exposure to the evolution of quantum computing without the outsize risk of pure-play stocks.
Over the last three years, the evolution of artificial intelligence (AI) has fueled the rally on Wall Street. However, AI isn't the only can't-miss trend that has investors eager to open their wallets and press the buy button in their brokerage accounts.
Arguably nothing has been hotter than quantum computing pure-play stocks in 2025. Shares of IonQ (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), D-Wave Quantum (NYSE: QBTS), and Quantum Computing Inc. (NASDAQ: QUBT), have respectively skyrocketed higher by 276%, 2,720%, 2,150%, and 1,200% over the trailing 12-month period, as of the closing bell on Oct. 22.
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Quantum computing uses specialized computers and the theories of quantum mechanics to solve complex problems that existing computers aren't capable of solving. Quantum computers may have the ability to speed up AI algorithm learning capabilities, and can narrow down best courses of action for drug developers using molecular simulations, to name a few real-world applications.
According to online publication The Quantum Insider, this technology could create $1 trillion in global economic value by 2035. A figure this large would support a long list of potential winners.
However, relying on Wall Street's pure-play quantum computing stocks may not be the smartest way to invest in the evolution of this technology. Instead, there's a far more "magnificent" way to gain exposure to quantum computing and safely grow your wealth.
Quantum computing pure-play stocks have well-defined shortcomings
While there have been bright spots for these quantum computing stocks, including IonQ and Rigetti having their respective computers used by Amazon (NASDAQ: AMZN) in its quantum cloud computing service known as Braket, there are far more headwinds than tailwinds for this quartet at the moment.
History might be the biggest hurdle IonQ, Rigetti, D-Wave, and Quantum Computing Inc. would need to overcome.
For more than 30 years, every game-changing technology or hyped innovation has worked its way through an early stage bubble-bursting event. From the internet to hyped innovations like 3D printing, blockchain technology, and the metaverse, investors have persistently overestimated how quickly consumers and/or businesses would adopt, utilize, and optimize a new technology. By overshooting, investors expose themselves -- and the leading stocks involved with these trends -- to eventual disappointment. Nothing suggests that quantum computing stocks will avoid this same fate.
Historical precedent also tells us that quantum computing stocks are richly valued. As of the closing bell on Oct. 22, their respective trailing 12-month (TTM) price-to-sales (P/S) ratios are:
IonQ: 241
Rigetti Computing: 1,154
D-Wave Quantum: 313
Quantum Computing Inc.: 7,013
For context, companies that led previous game-changing innovative trends often topped out with P/S ratios in the range of 30 to 40. No industry leader has ever been able to sustain a TTM P/S ratio of 30 for any extended period, let alone TTM P/S ratios ranging from 241 to north of 7,000!
With an unfavorable risk-versus-reward profile for IonQ, Rigetti, D-Wave, and Quantum Computing Inc., the smartest way to gain exposure to a coming quantum computing revolution is through the "Magnificent Seven."
Ancillary exposure through the Mag 7 is a genius way to wager on quantum computing
Although the applications for quantum computers and quantum hardware are exciting, this is a technology that's a very long way from maturing. Aside from Amazon offering access to IonQ's and Rigetti's quantum computers through Braket on Amazon Web Services (AWS), and Microsoft (NASDAQ: MSFT) offering quantum services on its cloud infrastructure service platform via Azure Quantum, it's not clear if this technology is being adopted on any broad commercial scale.
Furthermore, there's not any clear evidence that quantum computing solutions are being optimized as of yet, or are helping businesses using these solutions generate a recurring profit. In other words, it can't be emphasized enough how early this technology is in the commercialization and evolutionary process.
While quantum computers evolve and become commercialized, IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. are likely to lose money hand over fist. They'll also be issuing common stock and/or debt (if accessible) to bolster their balance sheets amid ongoing investments and operating losses.
In comparison, all members of the Magnificent Seven have established and well-defined competitive advantages -- sometimes in more than one industry. For example, Amazon is the undisputed leader in e-commerce, and the leader in global cloud infrastructure service spending with AWS. All members of the Mag 7 also have sizable piles of cash, cash equivalents, and marketable securities, and most are generating more cash from operations than they know what to do with.
When new technologies and game-changing innovations come along, Magnificent Seven businesses have demonstrated a desire to get their piece of the pie.
For instance, Meta Platforms (NASDAQ: META) has put tens of billions of dollars to work in the metaverse, which is the 3D virtual world where users can interact with each other and their surroundings. Meta CEO Mark Zuckerberg is well aware that these investments may not pay off for multiple years, given that the metaverse needs time to develop and mature. Meta is one of the few publicly traded companies with enough cash and operating cash flow to make these aggressive investments without hurting its bottom line or harming future innovation in other areas.
We've also witnessed Microsoft and Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) introduce quantum computing chips. Last week, Alphabet confirmed that its Willow chip ran a quantum algorithm that operated 13,000 times faster than the quickest supercomputers on the planet. Meanwhile, Microsoft's Majorana 1 quantum processing unit was introduced in mid-February.
Though quantum hardware may be years away from generating meaningful revenue, Microsoft and Alphabet (along with other Mag 7 members) have plenty of other operating segments to grow their respective sales and profits in the meantime while investors wait.
Should you invest $1,000 in IonQ right now?
Before you buy stock in IonQ, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 20, 2025
Sean Williams has positions in Alphabet, Amazon, and Meta Platforms. The Motley Fool has positions in and recommends Alphabet, Amazon, Meta Platforms, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Move Over, IonQ, Rigetti Computing, and D-Wave Quantum -- There's a Much Smarter Way to Invest in the Quantum Computing Revolution

Key Points
IonQ leads the quantum computing sector with $52.4 million in trailing revenue, far ahead of rivals Rigetti Computing and D-Wave Quantum.
However, the stock trades at an astronomical 415 times trailing sales despite posting net losses of $464.3 million over the last four quarters.
Investors should wait for a much lower entry point before considering IonQ stock.
Quantum computing specialist IonQ (NYSE: IONQ) soared to an all-time high in mid-October, but has backed down from that peak recently. The stock closed at $59.37 per share on Oct. 23, 28% below the $82.09 mark on Oct. 13.
Is this dip an invitation to buy IonQ stock, or the start of a deeper downturn -- or something in between? Let's take a look.
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Why quantum computing could change everything
Quantum computing should eventually turn the number-crunching world upside-down. Monitoring the physics of specially designed materials is a radically different computing method from the classical routing of digital signals through various types of logic gates.
In the long run, quantum systems should get very good at finding patterns in large data sets. In practice, people may use this new computing paradigm to decode genetic data, decrypt encrypted information, analyze financial markets, and more. I've got my fingers crossed for a quantum supercomputer finally figuring out the objectively correct way to raise your kids, but let's not hold our breath on that one.
Hold that thought, though (while breathing comfortably).
So far, IonQ is one of the largest and most successful developers of quantum computing systems. With $52.4 million of trailing revenue and a market cap of $21.8 billion, it stands head and shoulders over smaller quantum hopefuls such as Rigetti Computing (NASDAQ: RGTI) and D-Wave Quantum (NYSE: QBTS).
IonQ's focus on trapped ion systems is more natural than the superconducting gates used by Rigetti and D-Wave's quantum annealing. Its hardware is already producing high-quality data that can do useful things with less error correction. It's not a perfect solution, though; IonQ's data processing is also slower than the superconducting circuits and requires more precise engineering.
If IonQ's solutions can produce business-grade quantum computing systems before the others, you're looking at the early days of another durable tech titan.
IonQ's success is far from guaranteed
Unfortunately, IonQ has many hurdles to jump before reaching that lofty goal.
What if superconducting circuits are the right long-term approach, making IonQ's research obsolete in five or 10 years? In this case, I'd rather own Rigetti and D-Wave stock.
D-Wave and Rigetti may not look too dangerous today, but IonQ is also competing with well-heeled giants like Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and IBM (NYSE: IBM). IBM Quantum Computing and Google Quantum AI already have boatloads of technology patents, and their massive research budgets make IonQ and Rigetti look like rounding errors.
And there are no guarantees that IonQ's quantum computing research efforts will succeed. The trapped ion approach makes sense today, but the company's scientists could run into unexpected roadblocks and failed experiments. Any experienced biotech or semiconductor investor can tell you scary tales of promising research projects leading to a dead end.
Unfortunately, it will probably take many years to create truly useful quantum computers. If nothing else, IonQ may very well run out of cash long before the final breakthrough. From dilutive stock sales to expensive loans to all-out bankruptcy, none of the options is particularly shareholder-friendly.
The stock price lives in a different reality
Meanwhile, IonQ's stock is trading at nosebleed valuations. It's as if the company's long-term success were already guaranteed, with no regard at all for the many risks that remain.
So the greatest risk of all for IonQ investors may be the stock's unsustainable valuation. I already gave you the figures to work out its price-to-sales ratio -- a terrifying 415.5 times trailing revenue.
And I can't even talk about profit-based metrics, because IonQ isn't making money. Like, at all. With $52.4 million of trailing sales, the company reported a net loss of $464.3 million over the last four quarters. And it's not just a tax-savvy accounting move, either. IonQ's free cash flow was a negative $155.1 million in the same period.
The company is running its pricey research projects and burgeoning system manufacturing operations on a rapidly dwindling reserve of investor capital.
Bottom line: Wait for a better entry point
IonQ is at the forefront of a thrilling technological revolution, sure to create a new set of business giants and make millionaires out of early investors. That is, early investors in the eventual winners, which may or may not include IonQ.
I would consider buying a few IonQ shares if the stock weren't so incredibly expensive, but I'm not interested at all in the current setup -- even 26% below the even loftier mid-October peak. Give me a call if and when the market comes to its senses, accounting for IonQ's long-term risks in a much lower share price.
Until then, I can only hope the stock chart continues to trend lower for a while. I wouldn't dare short this volatile stock, of course -- it's all about finding a more reasonable entry point.
Should you invest $1,000 in IonQ right now?
Before you buy stock in IonQ, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,748!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 20, 2025
Anders Bylund has positions in Alphabet and International Business Machines. The Motley Fool has positions in and recommends Alphabet and International Business Machines. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Down 26%, Should You Buy the Dip on IonQ?

Key Points
A $30 billion annual market could emerge between 2030 and 2040.
Each competitor is taking its own particular approach to the process.
IonQ, D-Wave, and Rigetti could all be among the potential winners.
The quantum computing arms race isn't something that's years out. It's heating up right now, and there are several companies announcing promising breakthroughs.
While we're still a few years away from widespread commercial deployment, that could be accelerated as quantum computing companies start to announce more accurate computers that can be applied to real-world problems. This could allow investors to learn lessons from the AI arms race and apply them to the quantum computing one.
Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »
Three stocks that have the potential to turn into monster winners are IonQ (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), and D-Wave Quantum (NYSE: QBTS). All three of these stocks have gone on epic runs since the start of September, but is there still room to run even following their run-ups?
All three quantum computing companies are taking a different approach
Quantum computing can be performed using multiple techniques. The idea is to harness the quantum mechanics of a particle to perform calculations, but how each company does it is completely different. However, the problem each company is trying to solve is the same: computing accuracy.
Right now, each company competing in this space is working on this goal as it's holding quantum computing back from being a viable alternative to traditional computing methods. IonQ is the current leader in this space, with a two-qubit gate fidelity of 99.97% -- a current world record. This means that when a calculation must pass through two processing gates, there's a three in 10,000 chance of the calculation producing an error.
While that may sound impressive, it's not good enough to compete with traditional computers. IonQ has achieved this through its trapped ion technology, which can be done at room temperature. This technique is inherently more accurate, but it comes at the cost of processing speed.
Rigetti Computing uses the most common technique, known as superconducting. This requires cooling a particle down to near absolute zero, which is an expensive process. However, superconducting qubits yield the fastest processing speeds, which could separate Rigetti from the competition once the accuracy issue is solved. However, Rigetti is already seeing some use cases, as it sold two of its Novera quantum computing systems for $5.7 million total during September.
Lastly, there is D-Wave Quantum, which takes a different approach altogether. They're exploring quantum annealing, which can be used for optimization problems like AI models, logistics networks, and statistical calculations. This locks D-Wave's technology into specific use cases, rather than a general-purpose quantum computer that IonQ and Rigetti are pursuing.
However, if D-Wave can make a viable quantum computer that's purpose-built for a handful of industries that are expected to be the lion's share of quantum computing demand, then its approach makes perfect sense.
All three of these quantum computing companies have compelling investment theses, but the industry could be a winner-take-all scenario, where one (or none) of these stocks pans out. With the massive run-up that these three experienced, is there still room to run?
The quantum computing market is set to explode by 2030
Nearly every company competing in quantum computing agrees that 2030 is set to be a pivotal year for the technology. Rigetti predicts that the annual value for quantum computing before 2030 is $1 billion to $2 billion. After that, the annual market value could be $15 billion to $30 billion between 2030 and 2040. That's a large potential market, but is it enough for all three to be successful picks?
Let's say that all three of these companies produce viable solutions and capture a 20% market share by 2035, when the annual value reaches $30 billion. If that occurs, each company would generate around $6 billion in sales. If each company could generate a 30% profit margin and trade for 30 times earnings, that would price each stock with a market cap of about $54 billion. That would result in each stock tripling to quadrupling over the next decade.
However, there's no guarantee of success here, so there's a ton of risk involved in the stocks. I think investors can be a bit patient and wait for these three to cool off a bit. Then, you can scoop up shares for a cheaper price and get even better long-term returns. The quantum computing revolution is coming, and investors need to have some exposure, but after the massive run these stocks have been on, it may be good to wait for a month or two.
Should you invest $1,000 in IonQ right now?
Before you buy stock in IonQ, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $590,357!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,141,380!*
Now, it’s worth noting Stock Advisor’s total average return is 1,033% — a market-crushing outperformance compared to 193% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 20, 2025
Keithen Drury has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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