In the battle of quantum computers, there's one camp that doesn't build its qubits from human-made electrical circuits — it uses "real atoms" directly. A charged atom (an ion) is trapped, floating still in mid-air by an electromagnetic field, then controlled with a laser beam. The advantage: every atom in the universe is exactly identical, which makes this camp's qubits the "cleanest" and most accurate in the world — IonQ just set a record at 99.99% accuracy, and Quantinuum succeeded in building a machine with 48 error-corrected logical qubits. But the trade-off is being slower and harder to scale than anyone else. This is the story of betting on "quality" instead of "speed."
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IonQ Shares Jump 10.1% on Synopsys Quantum Simulation Research
IonQ shares jumped 10.1% in the afternoon session after the quantum computing company announced joint research with Synopsys showing that quantum algorithms accelerated industrial design simulations by up to 14.6%. According to a company press release, the work embedded an advanced quantum algorithm into Synopsys's Ansys LS-DYNA simulation software to reorganize equations more efficiently and cut calculation time for complex automotive and jet-engine simulations. IonQ said the approach helps relieve computational bottlenecks that slow classical supercomputers, and the joint paper earned a first-place Best Paper Award at IEEE Quantum Week 2026. The stock is down 13.5% since the beginning of the year, and at $40.47 per share it is trading 50.7% below its 52-week high of $82.09 from October 2025. The previous big move came 8 days earlier, when the stock dropped 4.4% after Mizuho Securities analyst Vijay Rakesh lowered his price target to $52 from $61 while maintaining a Buy rating following the company's Analyst Day.
IBM Wins $1 Billion CHIPS Award as IonQ Reports Quantum Optimization Progress
IBM and IonQ shares rallied Thursday on separate quantum computing developments. IBM's Anderon subsidiary finalized a $1 billion award from the U.S. Department of Commerce under the CHIPS and Science Act, funding research and development at a 300-millimeter quantum wafer facility in Albany, New York, with IBM committing another $1 billion to the project. IonQ, working with NVIDIA, Oak Ridge National Laboratory and the University of Tennessee, developed a generative AI method for producing quantum optimization circuits that maintained a roughly 28-second generation time across tested problem sizes. The two developments mark separate areas of industry progress, with IBM expanding quantum manufacturing capacity while IonQ focuses on reducing computational demands in quantum optimization.
Quantinuum Signs Non-Binding Aramco MoU on Industrial Quantum Computing
Quantinuum has signed a new non-binding memorandum of understanding with Aramco covering industrial quantum computing, a development that may support expectations for future project demand. The news comes as Quantinuum shares trade at US$52.01, down 21.2% over the past month, leaving investors to weigh how much of that price is supported by book value. On that measure the stock trades at a price-to-book ratio of about 4.6x, against an IT sector average near 2.7x and a peer group around 2.1x. The premium appears tied to expectations that Quantinuum's current asset base could support larger economic opportunities than a typical IT hardware or software group, given the interest the Aramco MoU has raised in its long-term project pipeline. One top community narrative holds that Quantinuum is 61% undervalued, citing Helios systems already in commercial use and a defined road map to Sol in 2027 and Apollo in 2029.
IonQ Posts Fifth Straight Record Quarter, Guides 2026 Revenue to $280-290 Million
IonQ reported its fifth consecutive record quarter, with second-quarter 2026 adjusted EBITDA of negative $120.3 million, and raised its full-year 2026 revenue guidance to $280 million to $290 million. Days before those results, the company closed a $1.8 billion purchase of SkyWater, and at its September 2026 Investor Day management guided combined 2026 revenue to $450 million to $460 million. Trailing twelve-month revenue is about $250 million, up 370.6% from a year earlier against a three-year average growth rate of 176.4%, while the operating margin stands at -408.2%. IonQ is moving its trapped ion machines from laser control to electronic qubit control, placing ion traps on a semiconductor chip that SkyWater fabricates, with the first fully integrated chips back for testing as the company targets system commissioning in 2027. The stock trades at about $37, roughly 55% below its high inside the last year, and at about $14 billion of market value it commands roughly 54 times its own trailing revenue, which does not include SkyWater.
Anderon Finalizes $1 Billion CHIPS Award for Quantum Wafer Foundry
Anderon LLC, an IBM company, has finalized a $1 billion award under the CHIPS and Science Act with the U.S. Department of Commerce to accelerate its research and development of U.S.-based quantum wafer manufacturing. The award, first announced in May under a letter of intent between the Department and IBM, supports Anderon's state-of-the-art 300-millimeter pure-play quantum wafer foundry, which is backed by an additional $1 billion investment from IBM. Headquartered in Albany, New York, the venture serves the quantum industry as a pure-play foundry offering quantum wafer manufacturing to customers across the ecosystem. Anderon CEO Mukesh Khare said the agreement strengthens the company's ability to deliver the manufacturing scale the quantum industry needs, while Jay Gambetta, Director of IBM Research and an IBM Fellow, said Anderon's wafer fabrication focus gives IBM the foundation to execute its quantum roadmap. The company said its first quantum wafers are now running through its manufacturing facility, an early production milestone demonstrating its ability to translate advanced pre-production research into commercial-grade quantum wafer technologies.
IonQ Wins Four Best Paper Awards Ahead of IEEE Quantum Week 2026
IonQ announced it has received four Best Paper Awards ahead of IEEE Quantum Week, known as QCE 2026, which runs Sept. 13-18. The four winning papers were selected from 857 global research submissions and represent a significant portion of the conference's 27 Best Paper honors. The awards cover joint research with QuantumBasel, NVIDIA, Synopsys, Oak Ridge National Laboratory, and Kipu Quantum, spanning quantum-classical hybrid systems that accelerate tasks from fine-tuning artificial intelligence models to protein folding and large-scale linear algebra. Among the winners, the Quantum Fine-Tuning for AI paper with QuantumBasel took 1st Place in the Quantum Applications Track, and the Quantum-Accelerated Linear Algebra work with Synopsys took 1st Place in the Quantum End-to-End Hybrid Case Studies Track. The AI-Accelerated Distributed Optimization paper with Oak Ridge National Laboratory and NVIDIA placed 3rd in the Quantum-GenAI Co-Design and Co-Discovery Track, while the 64-Qubit Protein Folding study with Kipu Quantum placed 3rd in the Quantum End-to-End Hybrid Case Studies Track. IonQ researchers will present these four award-winning papers along with five additional accepted research papers at IEEE Quantum Week in Toronto.
Rigetti Q2 Revenue Rises to $5.1 Million as Costs and Losses Widen
Rigetti Computing reported second-quarter 2026 revenues of $5.1 million, up from $1.8 million a year earlier, driven mainly by sales of its 9-qubit Novera systems and related products. Customer concentration remains elevated, with one client contributing 64% of quarterly revenues and another accounting for 16%, while the company's $8.4 million C-DAC quantum system for India is expected to be recognized only after installation and acceptance testing in the fourth quarter of 2026. Operating expenses jumped 48% year over year to $30.3 million, including a 53% increase in research and development spending to $20.7 million, producing an operating loss of $28.1 million. Rigetti holds $541.3 million in liquidity, but management expects R&D investments and capital expenditures to remain elevated as it expands cryogenic infrastructure and fabrication capacity. Among peers, IonQ signed an $8.18 million commercial agreement with Congruity360 and launched its sixth-generation Superion 256 platform, while D-Wave Quantum finalized a definitive agreement with the U.S. Department of Commerce for up to $100 million in CHIPS Act funding.
IonQ Launches Superion 256 Quantum Platform, First Deliveries Set for 2027
IonQ has launched Superion 256, its sixth-generation quantum computing platform and the foundation for future compute products, with customer deliveries set for 2027. The platform moved from early design to trapping ions in under a year, and IonQ fabricated its first fully integrated 256-qubit quantum processing units at its SkyWater subsidiary, with prototype Superion 256 systems now trapping ions at multiple U.S. facilities. IonQ and SkyWater jointly designed and fabricated the chip, completing six tapeouts in the first half of 2026 and cutting the design cycle to two months from nine months, while delivering 12 times more wafer lots over six months than at a previous foundry. At the core of Superion 256 is IonQ's Electronic Qubit Control, which controls trapped-ion qubits with electronics integrated directly into the chip rather than with laser systems, using the same technology behind IonQ's 99.99% two-qubit gate fidelity world record in October 2025. The platform scales from 256 qubits to millions of qubits, and Superion 10K is already underway, integrating CMOS into the chip. IonQ is taking orders for Superion 256 now and pre-sold its first system in the first quarter of 2026, while production-grade systems will also run on its cloud.
IonQ CEO Predicts Q-Day by 2028 as Shares Fall 5.78%
IonQ chief executive Niccolo de Masi used the company's investor day to predict that Q-Day, the point at which today's encryption falls, will arrive in 2028, but the market response was muted as shares fell 5.78% to $38.13 and are now down 15.02% year to date. The company reported Q2 revenue of $80.05 million, up 286.8% year over year, yet GAAP operating expenses ran to $417.3 million, adjusted EBITDA was negative $120.3 million, and stock-based compensation alone was $141.8 million, undercutting de Masi's claim that IonQ's systems do not become a lot more expensive as they grow more powerful. IonQ closed its $1.8 billion acquisition of SkyWater, raised full-year 2026 revenue guidance to $280 million to $290 million, and grew remaining performance obligations 297% year over year, with cash of $1.24 billion at quarter end, though management declined to provide combined-company guidance. The 256-qubit system is scheduled to begin commissioning in the first half of 2027, and roughly 50% of Q2 revenue was international while 60% was commercial. Among peers, Rigetti Computing reported Q2 revenue of just $5.14 million and is down 31.2% year to date, while D-Wave Quantum posted $3.08 million in revenue and is down 34.53% year to date, against NVIDIA's $96.22 billion in Q2 revenue, up 105.8% year over year. Analysts carry an average price target of $67.68 on IonQ, which trades at a price-to-sales of roughly 65.
IonQ Falls 4.4% After Mizuho Cuts Price Target to $52
Shares of quantum computing company IonQ fell 4.4% in the afternoon session after Mizuho Securities analyst Vijay Rakesh lowered his price target on the stock to $52 from $61 while maintaining a Buy rating following the company's Analyst Day. According to TipRanks, the price target reduction came after IonQ presented an updated 2026 revenue outlook at its Analyst Day, and while the company raised its forecasted revenue by roughly 60%, the increase primarily reflected contributions from its foundry acquisition rather than new guidance for its core quantum computing platform. The unprofitable quantum business continued to trade at an elevated valuation of approximately 53 times guided sales, leaving investors and analysts cautious about the underlying growth drivers of its core technology. The shares were trading at $38.62, down 4.4% from the previous close, and IonQ is down 17.4% since the beginning of the year, trading 53% below its 52-week high of $82.09 from October 2025.
IonQ Chairman and CEO Niccolo de Masi said on CNBC that a 2,000-qubit quantum computer could break Bitcoin's elliptic-curve encryption in under 26 days, reiterating his expectation for "Q-Day" in 2028. He noted the capability "is not here yet" but argued the timeline is compressing, citing a four-order-of-magnitude drop in qubits needed to break encryption over the past 15 years. IonQ is accelerating its path to 10,000 qubits in 2027 and plans to commission 256-qubit systems that year, after reporting Q2 revenue of $80.1 million, up 287% year over year, with full-year 2026 guidance of $280 million to $290 million. De Masi acknowledged IonQ's dual role as a quantum security solution provider, having launched the ClavisXG Multiplex QKD product, while Bitcoin traded near $79,530 and Strategy resumed buying with a $370 million purchase. IonQ shares last traded at $39.17, down 11.84% over the past month.
Quantum Stocks Rally on $100 Million Government Funding
Quantum computing stocks rallied Tuesday after three companies secured $100 million each in U.S. government funding, while IonQ raised its 2026 revenue forecast. D-Wave, Rigetti, and Quantinuum each received $100 million from the U.S. Department of Commerce through the CHIPS and Science Act, with the government taking minority equity positions. The funding is earmarked for research and development, not immediate sales, helping recipients tackle technical challenges as they scale quantum systems. IonQ separately lifted its 2026 revenue outlook to $450 million to $460 million from $280 million to $290 million, and introduced its Superion 256 platform with customer deliveries planned for 2027. In trading, D-Wave Quantum gained 6%, Rigetti Computing rose 4%, Quantum Computing added 2.6%, and IonQ climbed 2% even as the broader market fell.
Quantinuum and Aramco Sign MOU to Explore Quantum Computing in Energy
Quantinuum, a leading quantum computing company, has signed a non-binding Memorandum of Understanding with Aramco, one of the world's leading integrated energy and chemicals companies, to explore synergies in industrial quantum computing research, applications, and expertise. The MOU aims to support innovation and operational excellence within the energy sector by identifying Aramco's challenges suitable for quantum computing research, with an emphasis on solving complex problems in energy and digital transformation. The companies intend to undertake preliminary technical onboarding, engage in knowledge exchange, and prepare for a potential research collaboration focused on fault-tolerant quantum computing. Quantinuum's President and CEO, Dr. Rajeeb Hazra, stated that the MOU creates a framework for the two companies to exchange expertise and build a strong foundation for research across future generations of quantum computing.
IonQ Adds Capital Markets and Chip Leaders to Board
IonQ has appointed two new board members, Dr. Eric Ball, a veteran finance executive, and Timothy Baxter, former SkyWater chairman and Samsung North America CEO, bringing deep capital markets and semiconductor leadership experience to its governance. The combination of Ball's large-scale financing and M&A track record with Baxter's chip industry and go-to-market expertise could be important as IonQ integrates SkyWater and scales its merchant quantum supply ambitions. The new board members do not materially change the near-term catalyst of converting government and defense programs into durable revenue, but may help with governance around execution and integration risks. IonQ's narrative projects $700.4 million revenue and $53.4 million earnings by 2029, requiring 55.3% yearly revenue growth and a $255.1 million earnings decrease from $308.5 million today, with a fair value estimate of $68.41, a 63% upside to its current price.
IonQ Expands Merchant Supplier Role With Nexus Photonics Acquisition
IonQ is strengthening its role as a merchant supplier to the broader quantum industry, most recently acquiring Nexus Photonics to add chip-scale integration of lasers, modulators and optical subsystems. The company has already been a key supplier of precision atomic clocks to quantum computing companies and government contractors, and following the $1.8 billion acquisition of SkyWater in May, IonQ says it has become the world's largest quantum merchant supplier. On its August 2026 earnings call, IonQ announced the Nexus Photonics deal, which supports miniaturization and mass manufacture of quantum systems and brings the company closer to data center-scale distributed quantum systems. IonQ plans to supply these critical components through the industry's first dedicated quantum photonics foundry offering at SkyWater. IonQ shares have dropped 8.1% year to date, significantly lagging the industry's 105.7% growth, and the stock currently carries a Zacks Rank #4 (Sell).
Quantum Stocks Face Reality Check as QUBT and QNT Stand Out
Quantum computing stocks are entering a more demanding phase in the second half of 2026 as investors shift focus from qubit milestones to revenue visibility and commercialization. Quantum Computing Inc. reported second-quarter revenue of $5.6 million, up from $61,000 a year earlier, with a contract backlog of approximately $42.5 million, while Quantinuum's second-quarter revenue rose 279% year over year and it raised its 2026 revenue outlook to $28-$32 million. IonQ posted a 287% year-over-year revenue increase and raised its 2026 outlook to $280-$290 million, but carries a Zacks Rank #4, while D-Wave's first-half bookings surged 1,120% yet second-quarter revenue was only $3.1 million, essentially flat. Analysts' average price targets imply upside of 125.2% for Quantum Computing Inc. and 77% for Quantinuum.
Quantum stocks surge after Q2 results show significant improvement
Quantum computing stocks surged on Friday after second-quarter earnings reports showed significant revenue gains across the sector. D-Wave climbed 7% after BMO Capital Markets initiated coverage with an Outperform rating and a $35 price target, citing an addressable market opportunity of $450 billion to $850 billion. Rigetti jumped 9% as system and component sales reached $4.1 million, up from zero a year earlier, while Quantum Computing leaped 8% after revenue rose to $5.6 million from $65,000. IQM Quantum Computers popped 7% after second-quarter revenue increased 27% year over year to $7.8 million and it guided full-year revenue of $49 million to $55 million, and Infleqtion surged 9% on a 112% year-over-year revenue jump. IonQ increased 7.5% after announcing a partnership with the Canadian Microelectronics Corporation to expand quantum computing access to Canada-based researchers and businesses.
Rigetti Computing Q2 Revenue Soars 185.3% but Losses Widen
Rigetti Computing reported second-quarter 2026 revenue of $5.1 million, up 185.3% from $1.8 million a year earlier and 4.7% above the Zacks Consensus Estimate, driven by higher sales of 9-qubit Novera quantum computing systems. Gross profit rose 286.6% to $2.2 million with gross margin expanding about 1,120 basis points to 42.6%, but operating loss widened to $28.1 million from $19.9 million as research and development expenses increased 53.3% to $20.7 million and selling, general and administrative expenses rose 37.5% to $9.5 million. Customer concentration remained high, with the largest customer representing 64% of revenues and another 16%, while management expects results to fluctuate with contract mix and delivery schedules. The company expects to recognize revenues from an $8.4 million order for an on-premises 108-qubit system from India's Centre for Development of Advanced Computing in the fourth quarter of 2026 after installation and acceptance testing. Rigetti carries a Zacks Rank #5 (Strong Sell) with Value, Growth, Momentum, and VGM scores of F, F, D, and F respectively.
Rigetti Shares Plunge After Major Leadership Shake-Up
Rigetti Computing shares dipped 5% Thursday after the quantum computing company reorganized its leadership structure around customer deployments and processor development. David Rivas, previously chief technology officer, is moving into the chief operating officer role, with responsibilities including systems delivery, fabrication operations, software, supply chain and government programs. Andrew Bestwick, who had led Rigetti's Quantum Systems group, is taking over as CTO, focusing on hardware engineering, chip fabrication and development of the company's quantum processors. The restructuring creates a dedicated Systems Delivery organization intended to separate customer installation work from the engineering roadmap, allowing technical teams to concentrate more heavily on future processor platforms, including its Novera and Cepheus architectures. Rigetti recently reported $5.1 million of second-quarter revenue and held $541.3 million in cash, cash equivalents and available-for-sale investments at June 30.
Two Under-the-Radar Quantum Stocks Catch Analysts' Attention
Two newly public quantum computing companies, Horizon Quantum Holdings and Xanadu Quantum Technologies, have caught the attention of Wall Street's top analysts. Horizon Quantum, which went public in March through a SPAC merger with dMY Squared, builds software infrastructure for quantum computing and has a market cap of about $908 million. Craig Hallum analyst Richard Shannon rates Horizon a Buy with a $21 price target, implying roughly 25% upside from its current price of $16.82. Xanadu Quantum Technologies, which merged with Crane Harbor Acquisition Corp. and began trading on March 27, uses photonic technology to build room-temperature quantum computers and has a market cap of $3.15 billion. Canaccord analyst Kingsley Crane rates Xanadu a Buy with a $34 price target, suggesting a 228% gain from its current price of $10.37.
Quantum Computing Stocks Show Strong Analyst Upside in August
Wall Street analysts see significant upside in three quantum computing stocks—Rigetti Computing, IonQ, and D-Wave Quantum—despite their speculative nature and recent volatility. Rigetti leads with an implied upside of about 81.4% based on a $28.81 target versus its $18.67 close, supported by a letter of intent for up to $100 million in CHIPS Act funding and a 185.3% year-over-year revenue jump to $5.14 million. IonQ posted record Q2 revenue of $80.05 million, up 286.8% year over year, raised full-year 2026 guidance to $280–$290 million, and carries a 68.19% implied upside from its $46.84 close. D-Wave's first-half bookings surged to $35.5 million from $2.9 million a year earlier, with AT&T integrating its annealing platform to cut processing time from one hour to under 15 seconds, though its implied upside is the smallest at 19.7%.
IonQ and Quantinuum Pull Ahead in Quantum Computing Race
IonQ and Quantinuum are emerging as leaders in the quantum computing sector, driven by superior accuracy and strong second-quarter results. IonQ's revenue surged 287% to $80.1 million, beating estimates, with 60% from commercial customers and a backlog of $485 million. Quantinuum's revenue jumped 279% to $8 million, and its partnership with Oracle to integrate its Helios system into Oracle's cloud infrastructure is seen as a game changer. Both companies use trapped-ion technology, achieving over 99.9% two-qubit gate fidelity, far ahead of rivals like D-Wave and Rigetti, whose accuracy lags significantly.
Infleqtion Raises Q2 Revenue to $13.5M and FY26 Guidance to $45.1M
Infleqtion reported updated second quarter 2026 revenue of $13.5 million, up 157% year over year, and raised its full-year 2026 revenue guidance to approximately $45.1 million from $43 million. The revision reflects a shift in the timing of revenue recognition for two government contracts, with no impact to cash or underlying business fundamentals. GAAP operating loss widened to $29.9 million from $10.4 million a year earlier, while non-GAAP operating loss was $16.2 million compared with $7.6 million. The company also filed a Form 12b-25 for a one-day late filing of its Form 10-Q, and noted the adjustment reduces revenue recognized in 2024 and 2025. CEO Matt Kinsella said Q2 was a record quarter and the company remains on track for 30 logical qubits this year.
Rigetti's commercial quantum sales expand as peers report mixed results
Rigetti Computing reported that its first two 9-qubit systems delivered in 2026 went to commercial customers, marking a notable shift from a year or two ago when commercial demand was largely absent. Management attributed a significant portion of first-half revenue growth to commercial organizations purchasing on-premises quantum systems, while the broader pipeline now spans commercial enterprises, universities, and governments. The company's $8.4 million C-DAC order for a 108-qubit system remains on track for fourth-quarter revenue recognition, and the HPE-Pittsburgh Supercomputing Center collaboration is expected to place a full 9-qubit Rigetti system into an HPC environment in 2027. D-Wave Quantum posted $3.1 million in second-quarter 2026 revenues, essentially flat year over year, with commercial enterprises accounting for roughly 62.4% of revenues, up from 45.1% a year earlier. IonQ completed its acquisition of SkyWater Technology, creating a U.S.-based quantum foundry and strengthening its control over semiconductor manufacturing, advanced packaging, and supply-chain capabilities.
Oracle Expands AWS AI Database Partnership Amid Rising Debt-Funded Capex
Oracle and Amazon Web Services have expanded their collaboration to accelerate migration to Oracle AI Database@AWS, now available across 22 AWS regions. Oracle also announced a multi-year quantum computing partnership with Quantinuum and new AI-driven Fusion Agentic Applications for HR. The company faces credit downgrades, heavy debt-funded AI infrastructure spending, and a delayed gas pipeline for its New Mexico AI data center. Analysts project Oracle could reach $181.8 billion in revenue and $41.7 billion in earnings by 2029, implying a fair value of $248.15 per share, a 65% upside to its current price.
IonQ reported second quarter 2026 revenue of $80.1 million, up 287% year over year and 20% above its own expectations, driven by deployments of its fifth-generation quantum computing systems. The company also raised its full-year revenue guidance to a range of $280 million to $290 million, reflecting strong first-half performance. IonQ completed its $1.8 billion acquisition of SkyWater Technology on July 31, 2026, creating a vertically integrated full-stack quantum platform company, and received its first fully featured quantum processing units from SkyWater, which are now undergoing testing. Remaining performance obligations reached $485 million, up from $122 million a year earlier, while GAAP net loss was $1.9 billion, including a $1.6 billion non-cash warrant valuation charge. The company ended the quarter with $3.0 billion in cash and investments, and expects to begin commissioning its 256-qubit systems in 2027.
Quantinuum and Oracle announce industry-first quantum computing partnership
Quantinuum CEO Rajeeb Hazra announced an industry-first partnership with Oracle to integrate its Helios quantum computer into Oracle's data center. The deal will place Helios, described as the world's most accurate quantum computer, into Oracle's compute infrastructure and offer it as a service. This integration aims to let Oracle customers deploy hybrid workloads combining AI and quantum computing seamlessly, without managing additional hardware.
Rigetti Advances Quantum Roadmap With Strategic Global Expansion
Rigetti Computing is advancing its quantum computing roadmap through new commercial deployments, strategic partnerships, and government initiatives. The company will deliver a 9-qubit Novera quantum computing system to Pittsburgh Supercomputing Center's new TangleLab testbed, expanding its collaboration with Hewlett Packard Enterprise and supporting hybrid quantum-classical high-performance computing systems. Rigetti is also advancing its on-premises quantum computing pipeline, including the previously announced 108-qubit system for C-DAC in India, and has a letter of intent with the U.S. Department of Commerce for up to $100 million in funding over three years, though the proposed funding would involve an equity stake for the government. On the technology front, its Cepheus 108 qubit system is currently achieving approximately 99.9% median single qubit gate fidelity, 99.1% median two qubit gate fidelity, and gate speeds of about 60 nanoseconds, with targets of roughly 1,000 qubits, 99.9% two-qubit gate fidelity, and sub-50 nanosecond gate speeds over the next three years. The company is also planning an investment of up to $100 million in the United Kingdom, building on its existing 36-qubit deployment at the National Quantum Computing Centre.
Quantum Computing Market Projected to Reach $21.86 Billion by 2035
A new report from ResearchAndMarkets.com projects the global quantum computing market will grow from $1.93 billion in 2026 to $21.86 billion by 2035, a compound annual growth rate of 30.92%. The study highlights accelerating commercial momentum, including IonQ's record $80 million in second-quarter 2026 revenue and D-Wave's 1,120% bookings growth, alongside expanded cloud quantum deployments by Alphabet's Google and Microsoft. Key drivers include rising demand for high-performance computing beyond classical limits, growth of Quantum-as-a-Service platforms, and increasing government funding. North America leads the market, while optimization remains the dominant application and the banking, financial services, and insurance sector is the top end-use industry.
Quantinuum Reports 279% Revenue Growth in Q2 2026, Raises Full-Year Outlook
Quantinuum reported second-quarter 2026 revenue of $8 million, a 279% increase from $2 million a year earlier, and raised its full-year revenue guidance to a range of $28 to $32 million. The company completed its initial public offering during the quarter, raising $1.7 billion in gross proceeds, and ended June with $2.1 billion in cash, equivalents, and short-term investments. GAAP net loss widened to $597 million from $57 million, while adjusted EBITDA loss was $68 million compared with a loss of $43 million in the prior-year period. Quantinuum also announced an industry-first partnership with Oracle to deploy its Helios quantum computer as an Oracle Cloud Infrastructure service and demonstrated near five-nines logical fidelity on Helios, extending its leadership in fault tolerance.
IonQ reports record Q2 revenue of $80.1 million, raises full-year guidance
IonQ reported record GAAP revenue of $80.1 million for the second quarter of 2026, up 287% year over year and roughly 20% above the midpoint of its own guidance. Remaining performance obligations jumped to about $485 million, up nearly 300% from a year ago, and management raised full-year revenue guidance to $280 million to $290 million, targeting 100% organic growth in 2026. The company posted a GAAP net loss of $1.87 billion, largely due to a non-cash charge tied to remeasuring earn-outs and contingent consideration from the SkyWater acquisition, while adjusted EBITDA stood at negative $120 million. Cash, equivalents, and investments were approximately $2.0 billion pro forma after the deal. CEO Niccolo de Masi emphasized that the next race is AI plus quantum working together, citing IonQ's research on quantum fine-tuning as an energy-efficient layer on top of classical AI models.
Rigetti Computing stock surges on CHIPS Act award and UK quantum investment
Rigetti Computing shares rallied after the company signed a letter of intent with the U.S. Department of Commerce for up to $100 million over three years under the CHIPS and Science Act, with the government receiving an equity stake at a 15% discount to the lowest closing price around key dates. The company also announced plans to invest up to $100 million in the United Kingdom to deploy a quantum computer with more than 1,000 qubits within three to four years, aligning with the British government's 2-billion-pound quantum program. First-quarter 2026 revenue rose to $4.4 million from $1.5 million a year earlier, driven by NOVA quantum processing unit deliveries and government contracts, while the operating loss widened to roughly $26 million. The rally reflects investor optimism that government backing provides a path for Rigetti's hardware to become embedded in long-term national infrastructure.
SpaceX reported second-quarter 2026 revenue of $7.8 billion, a 92% year-over-year increase, while Quantinuum's first-quarter revenue fell 73% to $5.2 million. SpaceX's AI division contributed $2.6 billion in sales, up nearly 250%, and its operating loss narrowed to $143 million from $970 million a year earlier. Quantinuum's operating loss more than doubled to $77.2 million, though it holds over $677 million in cash plus IPO proceeds. SpaceX's price-to-sales ratio stands at 73, below Quantinuum's 99, and the stock rose 6% after earnings despite a post-IPO decline. Both companies have seen share price drops since their IPOs, but SpaceX's accelerating revenue and improving losses make it the preferred investment, according to the analysis.
IonQ Stock Surges Over 300% Since SPAC Debut on Quantum Computing Optimism
IonQ's stock has more than quadrupled since its October 2021 SPAC debut, driven by rapid revenue growth and bullish long-term forecasts for the quantum computing market. Revenue surged from $2 million in 2021 to $130 million in 2025, and analysts project it will exceed $652 million by 2028. The company's ion-trap technology offers higher gate fidelity than older superconducting systems and does not require cryogenic cooling, helping it secure more commercial and government contracts. Despite deep losses and a valuation of 23 times projected 2028 sales, IonQ remains a leading pure play on a market that Fortune Business Insights expects to grow at a 33% compound annual rate from 2026 to 2034. Near-term gains could be limited by macro headwinds such as interest rate fears.
IonQ Fair Value Estimate Edges Lower to $68.41 as Analysts Debate Quantum Growth and Risk
IonQ's analyst fair value estimate has been trimmed from $68.79 to $68.41, a marginal change that leaves the core price target largely intact. The adjustment reflects a slight reduction in modeled revenue growth from 55.57% to 55.27%, a net profit margin increase from 7.42% to 7.63%, a future P/E shift from 768.75x to 747.28x, and a discount rate move from 8.51% to 8.49%. The tweak sits within a broader analyst debate: Wedbush initiated coverage with an Outperform rating and a $75 price target, Benchmark reinstated with a Buy and $60 target, Northland raised its target to $70, and Jefferies highlighted positive U.S. executive orders on quantum, while B. Riley noted IonQ's $3.3 billion cash funding and high commercial and government engagement. Bearish voices, including Wedbush and Benchmark, caution that no clear winning quantum hardware modality has emerged, increasing execution risk as investors weigh long-duration R&D and capital use.
IonQ Lands Sandia and EPB Deals to Expand Quantum Networking and Security
IonQ announced new collaborations with Sandia National Laboratories and EPB to advance quantum computing for national security and create a quantum communications research center. The Sandia partnership focuses on quantum co-design for U.S. national security applications, while the EPB deal establishes the Tennessee Quantum Communications Research Center, where IonQ plans to deploy what it describes as the world's first commercial Quantum Memory within an operational grid. The EPB project requires IonQ to fund $15 million over five years, adding to cash needs amid recent shareholder dilution and analyst forecasts of declining earnings. The Sandia collaboration provides access to an impartial test bed and government stakeholders, potentially differentiating IonQ against competitors like IBM, Alphabet, and Rigetti in future federal contracts.
Horizon Quantum Q2 Loss Widens to $115.2 Million on Warrant Charge
Horizon Quantum Computing reported a second-quarter net loss of $115.2 million, compared with a loss of $2.9 million a year earlier, driven largely by a $108 million non-cash charge from the remeasurement of warrant liabilities. The company ended the quarter with $113.3 million in cash, up from $96.6 million at the end of March, after warrant exercises generated $2.7 million during the quarter and approximately $28.7 million to date. Operating expenses rose to $7.2 million from $2.8 million, reflecting headcount growth to 57 full-time employees and increased research spending. Operationally, Horizon launched early access for its Beryllium quantum programming language, opened its Ember-1 superconducting testbed to users, and announced a collaboration with Quantum Machines, while also planning a 256-qubit IonQ testbed for 2027.
IonQ shares jump 8.6% after Wedbush initiates with outperform and $1.8 billion SkyWater acquisition closes
Shares of quantum computing company IonQ jumped 8.6% in afternoon trading after Wedbush initiated coverage with an outperform rating and a $75 price target, and the company completed its $1.8 billion acquisition of SkyWater Technology. The deal, which received Federal Trade Commission clearance, aims to create a vertically integrated firm by giving IonQ direct control over its chip manufacturing. The positive news follows a strong first quarter that led IonQ to raise its full-year revenue outlook. Despite the gain, the stock remains 51.6% below its 52-week high of $82.09 from October 2025.
IonQ revenue surges 755% year-over-year to $64.7 million while AMD reaches $10.3 billion
IonQ reported first-quarter 2026 revenue of $64.7 million, a 755% increase from the prior year, while Advanced Micro Devices posted $10.3 billion in revenue for the same period, a 38% year-over-year rise. IonQ’s quarterly revenue has accelerated from $11.4 million in the second quarter of 2024 to $64.7 million in the first quarter of 2026, reflecting triple-digit growth from a small base. AMD’s revenue expanded from $5.8 billion to $10.3 billion over the same timeframe, underscoring the scale of the mature semiconductor market. IonQ recorded an operating loss of $271.5 million in its fiscal first quarter, compared with AMD’s operating income of $1.5 billion. The quantum computing company’s price-to-sales ratio stands at 62, versus AMD’s multiple of 21.
IonQ Preferred Over BigBear.ai for 2026 Despite Both Being Unprofitable
The Motley Fool concludes IonQ is the better stock to buy in 2026 compared to BigBear.ai, citing IonQ's strong revenue growth versus BigBear.ai's recent return to growth. BigBear.ai's fiscal 2025 revenue fell 19.3% to $127.7 million with a net loss of $293.9 million, though its second quarter of 2026 saw a 13% year-over-year sales increase to $36.7 million thanks to its Ask Sage acquisition in December of 2025. IonQ's fiscal 2025 revenue surged 201.9% to $130.0 million, and its first quarter of 2026 revenue jumped 755% year-over-year to $64.7 million, but it posted a net loss of $510.4 million. Both companies have zero debt and negative free cash flow, with BigBear.ai trading at a price-to-sales ratio of 10.4 times versus IonQ's 104.9 times. The analysis notes IonQ's higher risk due to technical hurdles in quantum computing, yet favors it for investors with high risk tolerance given its accelerating customer adoption.