Quantum Computing Stocks: Potential Growth Despite High Valuations

WASHINGTON, D.C. — As the quantum computing industry continues to evolve, stocks like D-Wave Quantum, Rigetti Computing, and IonQ are drawing attention from investors. The market cap for these companies reflects a growing interest, with D-Wave at $5 billion and a current price of $15.71 as of June 18, 2025.

Quantum computing represents a significant shift from traditional computing methods. Unlike standard computers that process data in binary bits, quantum computers utilize qubits, allowing for simultaneous data processing. This capability provides quantum computers with the potential for faster data handling. However, they are not without challenges. Quantum computers tend to be larger, more expensive, and consume more power while exhibiting a higher error rate compared to traditional systems. Currently, government agencies and academic institutions dominate their usage for specialized research.

Experts predict a robust future for quantum technologies. Fortune Business Insights forecasts a compound annual growth rate (CAGR) of 34.8 percent for the quantum computing market from 2024 to 2032, signaling potential for early investors. D-Wave offers “quantum annealing” tools that help optimize business workflows, and companies such as Mastercard and Lockheed Martin are utilizing its platform.

Rigetti presents a “full stack” approach to quantum computing, developing its QPUs and systems. The company recently launched its 9-qubit Novera GPU and its 84-qubit Ankaa system. Major clients include the U.S. Air Force Research Lab, enhancing its reputation in the field.

IonQ, which operates on trapped ion technology for its QPUs, offers higher fidelity and coherence, essential metrics for quantum computing. Its sales channels include recent contract signings with the U.S. Air Force Research Lab and General Dynamics.

In terms of revenue, D-Wave generated $9 million, Rigetti, $11 million, and IonQ, $43 million in 2024. However, predictions for growth vary significantly. According to estimates, D-Wave’s revenue could increase by 176% in 2025, while Rigetti may see a decline of 18% before bouncing back in subsequent years.

Despite their innovations, all three companies are expected to remain unprofitable in the near term. As of now, valuations may appear steep, trading at multiples of projected sales for 2027: 68 times for D-Wave, 93 times for Rigetti, and 36 times for IonQ. While these valuations raise eyebrows, the potential for growth in the quantum computing sector could entice long-term investors willing to weather volatility.