NVIDIA CEO Jensen Huang has indicated that quantum computing has reached an “inflection point,” a shift from previous claims that practical applications were decades away. IBM has unveiled a roadmap to create a fault-tolerant quantum computer, codenamed Starling, by 2029. This has increased interest among investors in publicly listed quantum firms such as IonQ, D-Wave Quantum, and Rigetti Computing, each reporting significant milestones in their first-quarter 2025 earnings.
Key Financial Highlights
IonQ’s recent progress includes a $22 million sale of quantum compute capacity to EPB Chattanooga and a planned $1.1 billion acquisition of Oxford Ionics. D-Wave Quantum reported a 509% year-over-year revenue increase, with first-quarter revenues driven by a major system sale; its gross margin surged to 93.6%. In contrast, Rigetti Computing faced a revenue decline from $3.1 million to $1.5 million year-over-year but is advancing its quantum architecture.
Future Outlook
IonQ and D-Wave stand out as solid investment options due to strong financial and technical progress, while Rigetti faces challenges that may deter near-term investors. IonQ is currently trading 27.6% below its 52-week high, D-Wave is 20.5% below, and Rigetti is 47% down.
