Quantum computing is rapidly evolving from a scientific experiment into an industrial reality. Similar to artificial intelligence (AI) five years ago, it’s moving past the phase of theoretical potential and beginning to disrupt industries.
Looking for quantum computing stocks to buy for a Stocks and Shares ISA or SIPP? Here are five names to check out.
IonQ
When it comes to pure-play quantum computing stocks, it’s hard to ignore IonQ (IONQ:NYSE). Founded in 2015 out of research from the University of Maryland and Duke University, it’s a global leader in terms of revenue.
IonQ sells a range of quantum computing hardware systems including the IonQ Tempo, the IonQ Forte, and the IonQ Forte Enterprise. These are physical, rack-mountable quantum systems designed for enterprise data centres, governments, and research facilities.
It also offers cloud-based quantum computing power through platforms such as Amazon Braket, Microsoft Azure Quantum, and Google Cloud. This allows enterprise clients to run quantum algorithms remotely.
To accelerate its growth, the company recently made a move to acquire US chip manufacturer Skywater Technology. This will give it a fully vertically integrated, domestic supply chain.
In terms of its financials, revenue is rising rapidly. This year, its top line is expected to jump more than 100% to $269 million.
However, the company is not yet profitable. So, it’s a high-risk investment, especially when you consider that its market cap is around $13 billion.
Rigetti Computing
Another pure-play quantum stock to take a look at is Rigetti Computing (RGTI:NASDAQ). It’s a full-stack quantum computing company that was founded in 2013 by physicist Chad Rigetti.
Like IonQ, Rigetti offers access to quantum technology via both hardware sales and cloud platforms. What sets it apart from other quantum computing companies is its Fab-1 manufacturing facility in California – this enables it to prototype, test, and launch quantum systems rapidly.
This year, Rigetti’s sales are projected to hit $23.6 million versus $7.1 million in 2025. So, the company is growing quickly.
With a market cap of $5 billion and a price-to-sales ratio of 200, however, it needs to grow quickly. That valuation doesn’t leave much room for error.
D-Wave Quantum
A third pure-play quantum computing stock that could be worth considering is D-Wave Computing (QBTS:NYSE). Founded in 1999, it was the first company in the world to sell a commercially available quantum computer.
Today, it offers access to its processors through Leap, its cloud-based quantum service. Customers use its technology to solve problems in areas such as logistics and fleet routing, financial modelling, and manufacturing and supply chain.
This year, D-Wave’s revenue is projected to hit $43 million. That would represent a 75% increase on the figure for 2025.
Like IonQ and Rigetti, however, the company is unprofitable. So, it’s a high-risk investment.
IBM
A safer way to play the quantum computing theme could be to invest via a diversified tech company such as IBM (IBM:NYSE). It has been working on quantum computing for years now and has been a major force in taking it out of physics labs and transforming it into a scalable, cloud-accessible technology.
IBM is currently the leading player in quantum hardware. Today, it operates the largest cloud-accessible quantum fleet in the world, deploying over 30 ‘utility-scale’ systems (machines with over 100 qubits).
However, it’s not just a hardware specialist; it has also developed Qiskit – an open-source software development kit (SDK) that has become the industry standard for quantum programming. Today, over 70% of quantum software developers use Qiskit for quantum algorithm development and circuit execution.
Looking ahead, IBM has committed over $10 billion toward its long-term quantum vision. In the near term, its goal is to achieve demonstrable, commercial quantum advantage for specific industrial workloads.
Now, one attraction of this stock is its valuation. Currently, it is trading on a P/E ratio of just 17 – a very reasonable earnings multiple for a large-cap tech company.
On the downside, it’s not a pure play on quantum computing as it operates in a range of industries including cloud computing and artificial intelligence, enterprise software, mainframe hardware, and IT consulting services. So, even if the company has success in the quantum computing space, it may not translate into a material boost for its share price.
Alphabet
Another prominent player in the global quantum computing race is Alphabet (GOOG:NASDAQ). It’s looking at quantum computing as a core multi-decade infrastructure bet and it has a specialised research unit, Google Quantum AI, for the technology.
Its advantage in quantum computing stems from its massive cash flows – while pure-play competitors like IonQ or Rigetti must carefully manage cash flow, Alphabet can fund long-term quantum research through its core profitable businesses. It also benefits from end-to-end integration – it operates a dedicated Quantum AI campus in California where it owns almost every layer of the design and manufacturing chain.
It’s worth noting that in late 2024, Alphabet unveiled a new quantum computing chip called ‘Willow’. At the time, the company said that Willow only took five minutes to solve a problem that would have taken the world’s fastest supercomputers ten septillion years to complete.
Like IBM, Alphabet is a diversified business, so it may not offer the same level of upside as pure-play quantum stocks like IONQ and RGTI. However, it’s also unlikely to experience the same level of volatility as these stocks, so it could be a safer way to get exposure to the quantum computing theme.
Disclosure: Edward Sheldon owns shares in Alphabet
Based in London, Edward is a distinguished investment writer with an extensive client portfolio comprising a diverse array of prominent financial services firms across the globe. With over 15 years of hands-on experience in private wealth management and institutional asset management, both in the UK and Australia, he possesses a profound understanding of the finance industry.
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