Overview
- IonQ, D‑Wave Quantum, and Rigetti have posted gains of roughly 812% to 4,330% since Q3 2024, drawing intense investor interest.
- IonQ trades near 303 times trailing sales, D‑Wave about 335 times, and Rigetti roughly 1,111 times, underscoring stretched valuations.
- IonQ secured a $2 billion equity financing from Heights Capital Management in October 2025, the largest single institutional investment reported in quantum computing.
- Rigetti disclosed two recent Novera system orders worth $5.7 million from an Asian manufacturer and a California startup, reflecting early but modest commercial traction.
- Alphabet’s Echoes algorithm progress and Elon Musk’s favorable comment have renewed attention, even as the companies remain unprofitable and most deployments are research-focused.