Firstly, this is not financial advice and never will be. In this article, we’ll highlight some of the quantum computing stocks that are available on the market that are publicly listed – in other words, that you can add to your portfolio – should you want. Investing is risky, and we have provided the disclaimer below again in case you didn’t read the footer on the website.
Investing in Quantum Computing?
Your knowledge of Quantum Technology might be varied, but you’ll likely have heard of the field, especially Quantum Computing. There are many mentions in everything from videos on YouTube to Articles highlighting how quantum technologies could be transformative. There is also a lot of hype out there, most likely. It’s worth remembering where we are in the development of quantum computing; it’s very, very early. As some investors like to say, early is “still wrong.”
Quantum Computers are still waiting for that “killer application,” in our view. The fundamentals are sound, backed up by science and a field called complexity theory, which has shown the theoretical promise of quantum computers. However, for many applications, a real utility for many can feel somewhat elusive. That has not stopped companies from exploring how to integrate quantum computing into their workflows with quantum-classical hybrids, nor has it stopped the march of qubit development leading to over 1,000 qubit devices.
Despite 1,000 qubits – the quantum equivalent of the classical bit, we are still a way off anything like a “General Purpose Quantum Computer“, which would likely need millions and millions of qubits to perform useful tasks Just as your traditional processor uses billions and transistors on a single chip, qubit counts need to be developed to the point where high fidelity qubits are as “cheap as chips” (do you like the pun)?
NISQ
Currently, researchers are exploring how to live with the internet noise of quantum devices. John Preskill a prominent researcher, coined the term NISQ to describe the noisy regime that quantum devices currently inhabit. That means developers and users of quantum computers must be able to deal with the errors that qubits naturally produce and still make sense of any results.
Quantum Algorithms
Companies ranging from Honeywell to IBM and a range of Quantum Computing start-ups are now focused on differing aspects of the quantum value chain or all of it. IBM, for example, has many end-to-end solutions, as does Xanadu, providing all the tools, languages, and frameworks that anyone could need to get going and create quantum or even quantum-classical workflows.
Right now, we can prove the fundamentals of the Cannon of Quantum Computing, those algorithms such as Deutsch-Josza, Shor, and Grover, which researchers have “kicked the tires” on for decades. There is a Quantum Zoo of algorithms. But the sheer scale of the size of a Quantum Computer needed to go beyond proving quantum advantage and be truly useful should not be underestimated. That said, we are optimistic that eventually, we’ll solve many of the industry’s issues, and quantum technologies will be as commonplace as perhaps the GPU is now in performing certain specific applications better and faster than conventional CPUs.
Quantum Hype Machine or Revolutionary Technology
It doesn’t have to be either-or. Other options could lie in between. We suspect that that is indeed the case. Dulwich Quantum is a start-up that has focused its aim on the hype surrounding the quantum industry. Not much is known about them, but they are active on Twitter, providing some ballast to the hype cycle of Quantum.
NFTs and the Crypto market have people fearful about missing out on stellar gains. There was a massive hype around NFTs, but now the values of these images have fallen dramatically to single-digit percentages of the original resale values. Call it an NFT winter, but some cryptocurrencies have also seen the same demise and rapid value destruction.
FOMO, Fear of Missing Out
We think the advances in AI with ChatGPT and LLMs have meant that many investors don’t want to be broadsided by nascent technologies, including quantum technologies. Many thought we’d never have innovations from OpenAI, such as ChatGPT. There have been many AI winters where the hype around AI never led to the purported innovations. Companies came and went that promised AI innovation and even delivered. Still, somehow, those innovations were never entirely adopted until what it feels like today, where we have the confluence of companies such as NVIDIA producing the hardware that enables these LLMs to train billions of weights.
Investors don’t want to get left behind, as some will have undoubtedly been as AI blossomed over what seems to be many false starts and broken promises. Missing AI (Artificial Intelligence) will serve as a lesson for many and means that they won’t want to get left behind when it comes to quantum computing, or so we think.
It isn’t just quantum computing; there are other elements of the quantum industry, such as quantum internet and quantum communication. So don’t become broadsided solely by “computing.”
Quantum Computing Stocks
We know you came for these. We’ve published articles on commercializing quantum computing, including public stocks that are pure-play quantum companies or those with a quantum division, such as IBM, Google, and even Amazon. Your investment thesis will be unique to you, and we will never provide financial advice. We will at least introduce some quantum companies exploring the nascent field. Here is a quick summary.
IonQ (IONQ)
Founded in 2015 and headquartered in College Park, Maryland, USA, IonQ specializes in the development of general-purpose quantum computing systems. Their technology focuses on trapped-ion quantum computing, a methodology developed from the work of co-founders Christopher Monroe at the University of Maryland and Jungsang Kim at Duke University. This approach is recognized for its potential benefits in accuracy, scalability, predictability, and coherence time, though it also faces critiques for its operational speed and size compared to other qubit technologies.
The company was co-founded by Dr. Jungsang Kim and Dr. Christopher Monroe, both of whom are recognized for their significant contributions to the field of quantum computing. Dr. Kim, a quantum computing expert, holds 40 patents with an additional 36 pending, and his innovations form the core of IonQ’s technology. Dr. Monroe, also a co-founder, is a key figure in the company’s scientific endeavors
IonQ, Inc. is listed on the New York Stock Exchange (NYSE) under the ticker symbol IONQ. As of December 15, 2023, the stock was trading at $14.93 at close and $14.97 in after-hours trading. For a direct view of the stock chart, you can visit the NYSE website or financial websites that track stock performances.
Rigetti (RGTI)
Founded in 2013 and headquartered in Berkeley, California, the company has positioned itself at the forefront of developing quantum computers and superconducting quantum processors. Rigetti’s operations extend beyond the United States to the United Kingdom, signifying its global reach and influence in the technology sector.
The company is renowned for its full-stack approach to quantum computing. This means that Rigetti is involved in every aspect of quantum computing, from designing and fabricating quantum chips to integrating them with a controlling architecture and developing software for programmers. This comprehensive approach has positioned Rigetti as a significant contributor to the quantum computing landscape, offering a range of products and services that encompass platform, research, and software tools. These offerings find applications in diverse areas such as benchmarking, chemical simulation, machine learning, and optimization.
Rigetti is listed on the NASDAQ stock exchange under the ticker symbol RGTI. This listing followed a significant event in the company’s history when it went public via a SPAC (Special Purpose Acquisition Company) merger in March 2022. The merger was a strategic move that raised substantial funding and was pivotal in scaling the company’s quantum computing systems. The initial public offering (IPO) was a crucial step in Rigetti’s journey, allowing it to enhance its financial capabilities and broaden its investor base.
The company aims to scale its quantum computing systems significantly, with a roadmap to increase the number of qubits from 80 to 1,000 by 2024 and further to 4,000 by 2026. Additionally, in July 2023, Rigetti launched a single-chip 84 qubit quantum processor, underscoring its commitment to ongoing innovation and development in this field
D-wave (QBTS)
D-Wave Systems Inc. is an established player in the quantum computing industry, recognized for developing and delivering quantum computing systems, software, and services. It is one of the early pure-play quantum computing companies.
D-Wave was founded in 1999 and is the world’s first commercial supplier of quantum computers. Over the years, D-Wave has garnered attention for its innovative approach to quantum computing. It focuses on delivering practical, real-world applications that create value for its customers that utilize quantum annealing as its go-to-market offering. It is also planning to release a gate-based quantum computer to address threats from other companies that offer gate-based devices.
D-Wave’s products and services are designed to accelerate the path to practical, real-world applications in various industries, including manufacturing, logistics, financial services, life sciences, and others. D-Wave’s clientele includes notable enterprises such as Volkswagen, Pattison Food Group, DENSO, Toyota, BBVA, NEC, Interpublic Group, and Lockheed Martin.
D-Wave went public on the New York Stock Exchange on August 8, 2022. The company’s ticker symbol is QBTS. For a direct link to the stock chart, you can visit the NYSE website and search for “QBTS”.