Quantum computing could be the next big technological advancement after artificial intelligence (AI). While the technology is still emerging and considered many years away from commercialization, the industry is making strong progress.
Here are three quantum computing companies with stocks that have the potential for millionaire-level gains if their quantum technology can take a major leap. But note that with quantum computing being an emerging field, all three of these names are high-risk, high-reward stocks.
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IonQ
IonQ (IONQ +1.32%) is looking to be a leader in quantum computing through its trapped-ion technology approach. With this technique, the company uses real atoms, which helps make its systems less error-prone. The biggest obstacle in quantum computing is that the systems currently produce a lot of errors, but IonQ has achieved some of the highest fidelity (accuracy) in the space, with 99.99% gate fidelity. While that may sound very accurate for computing, it's still considered error-prone, but it's at a level where the company can start working to reduce errors through other methods, like its Clifford Noise Reduction (CliNR) software solution.
NYSE: IONQ
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The company aims to be the Nvidia of quantum computing by controlling the entire quantum ecosystem, much like how the GPU (graphics processing unit) maker does this through its CUDA software platform and networking portfolio. It has made several acquisitions in the areas of photonic interconnect technology, quantum sensing, and space-based quantum data transmission to help it reach its goal.
Rigetti Computing
While IonQ's approach has taken the lead in fidelity, Rigetti Computing (RGTI +0.16%) systems are much faster, with estimates of its superconducting qubits being 10,000 times faster than IonQ. If the company can eventually match IonQ's fidelity, that would help give it a big lead in the space.
The company hit a major milestone in 2025, exhibiting the industry's largest multichip quantum computer. It also introduced a 100-plus-qubit chiplet system with 99.5% fidelity, and plans to push that to a 150-plus-qubit system with 99.7% fidelity by the end of this year. It's then looking to make a quantum leap to a 1,000-plus-qubit system with 99.8% fidelity by around the end of 2027.
NASDAQ: RGTI
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Rigetti has also made some progress on the sales front, getting two orders totaling $5.7 million for its Novera quantum computing systems. It plans to deliver them in the first half of this year. The Air Force Research Laboratory also awarded it a three-year $5.8 million contract to create a superconducting quantum network in collaboration with Dutch quantum computing company QphoX.
D-Wave Quantum
D-Wave Quantum (QBTS 3.10%) is tackling quantum computing from two different angles. The company is a leader in quantum annealing technology, which operates by finding the optimal solution to a problem. It's more of a specialized technique used to help solve specific issues by quickly calculating things and settling on the best answers. While not as eloquent as the gate-based systems used by competitors, it has allowed the company to release a production-grade quantum computer called Advantage2.
NYSE: QBTS
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While competitors like IonQ and Rigetti's sales revolve more around testing and experimentation, D-Wave has over 100 paying customers, including more than 20 in the Forbes Global 2000. In Q3, it saw its revenue double to $3.7 million, and its bookings rose to $2.4 million. After the quarter, it also signed a 10-million-euro deal for its new Advantage2 quantum computer in Italy.
D-Wave has also decided to begin pursuing a gate-based system, which is the method most companies in the space use. However, the company will use fluxonium qubits, which it says have similar properties to the qubits it uses with quantum annealing. It believes these qubits will be less sensitive to environmental noise, making them less error-prone. The company said last quarter that with around $830 million in cash on its balance sheet that it now has the resources to really accelerate the development of a gate-based system.
