Key Highlights on Quantum Computing Market
The quantum computing market, projected to reach $4.2 billion by 2030, remains significantly smaller than the artificial intelligence market, which is expected to total $1.8 trillion, making AI 425 times larger. Key players in the quantum sector include Rigetti Computing, D-Wave Quantum, and IonQ, whose share prices have soared over 1,000% in the last three years, but now face bubble-like valuations.
Currently, no company has developed a large-scale, fault-tolerant quantum computer. Rigetti’s systems have about 100 qubits, while D-Wave has approximately 5,000 qubits, and IonQ aims for 20,000 by 2028. Experts estimate that companies will need tens of thousands of qubits for practical applications, which are not expected to materialize within the next decade, despite claims from industry leaders like Alphabet CEO Sundar Pichai.
Rigetti shares are trading at 928 times sales, D-Wave at 362 times, and IonQ at 150 times sales, highlighting their inflated valuations compared to the average of 55 times sales for the most expensive stocks in the S&P 500. The disparity places Rigetti, D-Wave, and IonQ at risk of significant declines, with projections suggesting potential crashes could occur by 2026.
