Investors have heard the buzz: quantum computing is poised to be the next giant leap in technology. But which companies are truly turning this sci-fi into stock-market gold? 

In this report, we’ll dive into the quantum realm – a wild world where particles can be in two places at once, and where computers might someday crunch problems in seconds that classical machines couldn’t solve in a billion years. 

We’ll break down the in quantum computing, share some about the sector, introduce , and analyze the . Then we’ll rank some of the (mid- to large-cap) that could ride this revolution.

(P.S. – We’ll save our #1 pick for last – and keep it a mystery for now, with details on how to get the full scoop for free.)

Quantum computing isn’t just an upgrade; it’s a paradigm shift in how we process information. Classical computers use bits (0 or 1), but quantum computers use that can be 0 and 1 at the same time (thanks to a phenomenon called superposition). Even better (or weirder), multiple qubits can become , so that measuring one instantly affects the others. The result is a machine that, for certain problems, operates in a mind-boggling multi-dimensional compute space – potentially solving complex calculations astronomically faster than classical computers.

Why does this matter economically? Because if quantum computers fulfill their promise, they could crack problems that are currently impossible for even the fastest supercomputers. Think about (by simulating molecular interactions at speeds we can only dream of today), , , and . The impact could be massive, akin to the advent of classical computing itself.

Importantly, we’re reaching the limits of classical chip miniaturization – , and squeezing more transistors onto silicon no longer yields the exponential gains it once did. Quantum offers a way to leapfrog that plateau by fundamentally changing the computation approach. It’s the “next big thing” that Big Tech, startups, and governments alike are racing to master.

How big can it get? Analysts foresee dramatic growth. The will grow from about , a ~33% annual growth rate. 

Looking further out, Boston Consulting Group projects as quantum technology matures. Even nearer term, quantum commercial revenue worldwide could near , up from just a few billion today. In short, we’re talking about an industry that may be small now but is scaling rapidly – and could eventually reshape entire sectors of the economy.

For investors, the opportunity is twofold: , but also . 

Investing here requires a stomach for risk and a keen eye for what’s real vs. what’s PowerPoint vaporware. The good news: several publicly traded companies – from established tech giants to pure-play quantum startups – are giving investors a chance to ride this quantum wave from the ground floor.

Quantum computing still has big hurdles but the progress in just the last few years has been rapid, and the key to making money is stocks is getting in EARLY. So in the quantum gold rush, who are the prospective kings?

The quantum computing landscape is a fascinating mix of , all vying to invent the future. It’s as if the and were racing each other to build the first jet engine – the nimble inventors vs. the industrial powerhouses. 

Both have advantages: the giants have virtually unlimited resources and cloud infrastructure to deploy quantum services, while the pure-plays live and breathe quantum tech with singular focus (and perhaps fewer bureaucratic shackles).

On one side, we have with substantial quantum initiatives:

And then we have the – these are firms focused 100% on quantum computing tech, typically smaller cap but high-growth potential. The include companies like:

It’s worth noting that globally, there are others – e.g. Alibaba and Baidu in China have quantum labs, and several well-funded startups (like UK’s Oxford Quantum Circuits, or Silicon Valley’s PsiQuantum) are still private. But as an investor today, the action is mostly with the companies above.

It’s early days, so collaboration and competition coexist. IBM, Google, Microsoft often publish scientific papers rather than hold trade secrets – a very academia-influenced vibe. Startups partner with the big guys (e.g., startup hardware appearing on Amazon or Microsoft’s cloud) even as they theoretically compete for end-users. Everyone knows the real “competition” right now is against the formidable scientific challenges of scaling up qubits and beating error rates. However, as the technology matures, expect these companies to start differentiating their offerings and fighting for market share in cloud computing and enterprise solutions.

~$2.8 billion (mid-cap) as of early 2025.
Superconducting qubits (full-stack quantum computers, similar tech to IBM/Google).
Sells access to its quantum systems via cloud (Rigetti Quantum Cloud Services), partners with AWS and Azure; pursuing eventual sale of dedicated systems and services.

Rigetti Computing is a pure-play quantum computing company that offers a bit of an underdog story. Imagine a startup in a garage (albeit a garage full of dilution fridges and PhDs) going head-to-head with the likes of IBM and Google. That’s Rigetti – scrappy, innovative, and unafraid to challenge bigger rivals. Its founder, Dr. Chad Rigetti, started the company in 2013 after working at IBM’s quantum research group. Frustrated with the pace of progress, he set out on his own to build a faster, more agile quantum development culture. The company eventually went public via SPAC in 2022, giving public investors a chance to directly invest in a pure quantum hardware maker.

Rigetti’s strategy is to offer : developers and researchers can log on to Rigetti’s quantum cloud and run algorithms on its processors. Rigetti’s machines are also available through and were planned for as well, showing that despite being a competitor, Rigetti plays nicely with the big platforms to reach users.

On the technical side, Rigetti has been steadily improving its qubit count and quality. Its latest generation, Ankaa-3 (launched Dec 2024), has 84 qubits with a new architecture that dramatically improved fidelity (99%+ for two-qubit operations). High fidelity is crucial – it means less error in calculations, and Rigetti managed to halve its error rates in 2024 with this new design.

Financially, Rigetti is still essentially pre-revenue in the grand scheme – it earns a few million in R&D contracts (e.g., with DARPA or the U.S. Air Force) and prototype usage fees, while investing tens of millions in R&D. Losses are expected at this stage. The stock has been , reflecting every piece of news about technological progress or setbacks. In early 2023, Rigetti faced turmoil – delays in hitting performance targets led to the CEO (Rigetti himself) stepping down and a new CEO, Dr. Subodh Kulkarni, taking the helm. The company restructured, even laying off 28% of staff to cut burn rate.

, Rigetti offers arguably the highest risk profile among our picks: it’s small enough that a major breakthrough (or major stumble) could swing the stock wildly. It’s essentially a bet that Rigetti’s expertise in superconducting qubits and fast innovation cycle can keep it in the leading pack of quantum hardware makers – and that eventually, it can carve out a profitable niche selling quantum services or systems to big enterprise clients (or even get acquired by a larger tech company seeking quantum IP).

We rank it at #5 because it has significant promise, but also significant execution risk. Consider Rigetti the “growth stock” pick of the quantum bunch – not much in revenues today, but with a shot at big future payoffs if things go right.

~$2.1 trillion (mega-cap).
Superconducting qubits (53-qubit Sycamore processor, etc.), plus research into error correction and photonic quantum networks.
Currently pure R&D; future integration with Google Cloud services and potential IP licensing.

When it comes to bleeding-edge tech, Alphabet (Google’s parent company) is almost always in the conversation. With quantum computing, Google essentially announced itself as a frontrunner with a bang: the experiment of 2019 put Google’s quantum hardware on the map in a way no other company had managed in the public eye. 

Google’s , similar to IBM and Rigetti. Sycamore had 54 qubits (53 were working, one failed – hardware is hard!). The design is a lattice of qubits with tunable couplers. Post-supremacy, Google has focused heavily on . Google is on track to eventually create a stable “logical qubit” that can be the building block of a truly powerful machine.

Aside from brute-force processing, Google is also interested in and perhaps quantum sensors or communication. But the crown jewel is building a large-scale quantum computer to strengthen Google’s prowess in search and cloud computing in the future.

Not to mention, breakthroughs in quantum computing could turbocharge Google’s . Some quantum algorithms might dramatically speed up machine learning tasks. Alphabet’s CEO Sundar Pichai has often highlighted quantum computing in his vision of future tech that Google is pursuing – so it has support at the highest level.

So why rank Alphabet at #4 in quantum opportunity? Because while Google’s quantum program is top-notch, the – it’s a fraction of a fraction of their operations. The opportunity is more strategic and long-term: if Google stays at the cutting edge, it ensures it won’t be left behind in a potential quantum revolution.

For now, Alphabet remains a – you’re really investing in Google’s whole empire, with quantum as a free (and potentially wonderful) bonus.

~$2.9 trillion (mega-cap).
Topological qubits (Majorana-based), quantum software (Q#, Azure Quantum); also hosts third-party quantum hardware on its cloud.
Developing hardware for future use; currently offering quantum cloud services (simulation and hardware access) via Azure; plans to integrate quantum into its massive enterprise cloud platform.

Microsoft is a fascinating case in quantum computing. Where most others zig, Microsoft zagged – pursuing an unconventional physics approach for years that many doubted would ever bear fruit. The concept: create which, in theory, are far more stable against noise than standard superconducting or ion qubits. The science is complex (involving quasiparticles and nano-scale structures), but the appeal is straightforward: if it works, you could get qubits that don’t lose their quantum state easily, meaning you’d need far fewer of them to do error-corrected computations. It’s a long-shot approach, the kind of big bet only a company with Microsoft’s resources could sustain over a decade.

In , Microsoft dropped big news: they unveiled , a prototype quantum processor using these topological qubits. They even claimed in a Nature paper that they have a “hardware-protected” qubit and outlined a roadmap to scaling this to a useful system. In their words, they’re now on track to build a

This is a bold claim – and not everyone is convinced yet. But if Microsoft truly has cracked the code on topological qubits, it could be game-changing. It would mean Microsoft could leapfrog in qubit count and quality once they scale up the manufacturing of these devices, potentially catching up to or surpassing others.

Microsoft’s CEO Satya Nadella and CTO Kevin Scott have both spoken about quantum computing as part of the company’s future. Given Microsoft’s huge enterprise client base via Azure and its decades-long relationships with Fortune 500 companies, when quantum computing is ready to solve real business problems, Microsoft will likely be a key provider – either through its own machines or as a reseller/platform for others. 

From an investment perspective, , and quantum is a relatively small research segment. But Microsoft has a knack for turning research into product. If its topological bet pays off, Microsoft could end up with the most scalable quantum architecture, which in the long run could make it a leader in offering quantum cloud services to businesses globally. 

We place Microsoft at #3 because the given its resources and customer reach – perhaps equaled only by one other company (the #1 one we’ve yet to reveal below). 

~$230 billion (large-cap).
Superconducting qubits (127-qubit, 433-qubit processors, etc.), developing modular quantum architectures; also quantum software (Qiskit) and services.
Providing quantum computing access via IBM Cloud (IBM Quantum), partnering with enterprises and research institutions; aiming to commercialize large-scale quantum systems and services as the technology advances.

IBM is the in many respects. It also had the foresight to jump into quantum research early and with serious commitment. And if you were to bet on one company having a comprehensive end-to-end quantum strategy, IBM would be it. And unlike most others, IBM has already begun monetizing quantum computing in small but meaningful ways, effectively creating a beachhead for the quantum industry.

Let’s talk about tech first. IBM’s approach: , arranged in ever-growing lattices on a chip, and packed into elegant fridge systems. IBM has been consistently pushing qubit counts and performance. 

One standout aspect of IBM’s quantum leadership: . IBM has over 200 members in its Quantum Network – including Fortune 500 companies (Boeing, JPMorgan, ExxonMobil, etc.), startups, national labs, and universities – who get access to IBM’s quantum systems. These partners pay for access or collaborate on research. 

In fact, IBM had its first as early as 2017, albeit for modest, exploratory projects. It’s not big revenue (IBM’s overall revenue is ~$60 billion annually; quantum is a tiny fraction of that), but it’s real business and, importantly, real feedback loops with users.

IBM’s quantum computing service is accessible through the cloud to anyone. They have a tiered model: some lower-qubit machines are available for free to the public (over – mostly students, professors, enthusiasts), while the top-performing newest processors are reserved for paying clients and research partners. 

This strategy has given IBM an unparalleled – tens of thousands of people learning on IBM machines, using IBM’s open-source software framework (which has become a standard of sorts in the industry). It’s a brilliant long game: when quantum hardware becomes truly useful, a generation of developers and scientists will already be trained on IBM’s platform.

From a business model perspective, IBM is positioning itself to be the to enterprise and government, much like it has been for classical computing in the past. As the hardware improves, IBM can ramp up its Quantum-as-a-Service revenues. 

Now, why rank IBM #2 in opportunity? IBM brings a potent mix of relatively lower risk and strong upside in quantum. On one hand, IBM is a large, stable company with diversified businesses. Its stock isn’t going to hinge on quantum success or failure in the next couple of years; However, IBM has arguably tied its future identity to quantum more than any other big tech firm.

If quantum computing becomes mainstream, IBM could transform from a slow-growing tech stalwart into a hot growth company once again – with quantum at its core. That possibility makes IBM quite attractive from an opportunity standpoint. 

Those are four of our five top picks in quantum computing. Each brings something unique: Rigetti’s pure-play agility, Alphabet’s moonshot mindset with a cash-cow backing, Microsoft’s bold bet and cloud leverage, and IBM’s methodical, full-stack domination play. 

Now, we’ve got one more to go – our #1 quantum computing stock for 2025 and beyond. This final pick combines many of the strengths of the others: it’s laser-focused on quantum tech like Rigetti, it has partnerships with giants like Microsoft and Amazon (providing the ecosystem reach of an IBM), and it’s achieved some of the most impressive technical milestones in the industry. In our view, this company represents perhaps the most exciting in quantum computing for investors – a pure-play leader that could ride quantum’s rise to incredible heights.

Because the story of this top pick gets even deeper we’ve prepared a comprehensive individual report on it, including detailed , , and an earnings deep-dive for this company. 

Simply [click here to get our #1 Quantum Computing Stock for 2025]. 

Quantum computing is a fast-evolving field, and today’s front-runner might be tomorrow’s footnote. That’s why staying informed is crucial. We hope this report has given you a solid grounding in the industry’s promise and players, with a dash of wit to keep the quantum weirdness enjoyable. 

The future isn’t written yet, but one thing is clear: the race is on, and the stakes are sky-high. As an intelligent investor eager to learn, you’re now a step ahead of the crowd on this topic. Keep asking questions, keep an eye on those qubits, and who knows – a few years from now, you might just be glad you got in early on the quantum revolution.