Quantum Stocks

943+ Quantum Companies Worldwide

Quantum Stocks

A quick reference to publicly traded quantum computing and quantum technology companies, plus SPACs and upcoming market entries.

2025 Quantum Stock Rally

Quantum computing stocks have experienced extraordinary gains in 2025, with some pure-play stocks rallying over 500% year-to-date. Key catalysts include Google's Willow chip announcement, increased government quantum initiatives, and growing enterprise adoption. However, valuations remain stretched with some stocks trading at 300-1000x sales.

Currently Trading

Prices from Yahoo Finance - December 18-19, 2025

Company	Ticker	Exchange	Price	Day Range	52-Week Range	Profile
IonQ	IONQ	NYSE	$47.23	$46.70 - $48.67	$17.88 - $82.09	View Profile
Rigetti Computing	RGTI	NASDAQ	$22.95	$22.56 - $23.94	$5.95 - $58.15	View Profile
D-Wave Quantum	QBTS	NYSE	$24.77	$24.21 - $25.84	$3.74 - $46.75	View Profile
Arqit Quantum	ARQQ	NASDAQ	$30.43	$29.52 - $31.75	$11.00 - $62.00	View Profile
Quantum Computing Inc.	QUBT	NASDAQ	$10.52	$10.33 - $10.85	$4.37 - $27.15	View Profile
QuantumCTek	688027	Shanghai (STAR)	¥461.88	-	¥211 - ¥618	View Profile

Daily Trading Details

Stock	Prev Close	Volume	Avg Volume	Market Cap
IONQ	$45.87	7.29M	~15M	~$16.7B
RGTI	$22.47	16.35M	~25M	~$7.6B
QBTS	$23.80	5.99M	33.3M	~$8.7B
ARQQ	$29.52	~269K	~269K	~$444M
QUBT	$10.22	6.27M	~8M	~$2.4B

Understanding Qubit Technologies

Trapped-ion (IonQ): Uses electrically charged atoms held in electromagnetic traps. Known for high gate fidelity and long coherence times.

Superconducting (Rigetti): Uses supercooled circuits near absolute zero. Fastest gate speeds, used by IBM and Google.

Quantum Annealing (D-Wave): Specialized for optimization problems. Uses quantum tunneling rather than gate-based computation.

Photonic (QCI): Uses light particles (photons). Can operate at room temperature, naturally suited for networking.

YTD Performance & Analyst Ratings

Company	YTD Return	Analyst Rating	Price Target	Recent Coverage
IonQ	+96%	Buy (7 analysts)	$64.57 avg ($47-$100)	Jefferies: Buy $100
Rigetti	+260%	Strong Buy (7 analysts)	$30-$35	Jefferies: Hold $30, Wedbush: Outperform $35
D-Wave	+383%	Strong Buy (10 analysts)	$23.50 avg ($22-$48)	Jefferies: Buy $45
Arqit	-	Strong Buy (1 analyst)	$60	FY25 earnings, Intel & Sparkle partnerships
QUBT	-	Buy (4 analysts)	$20.75-$23.67	Acquired Luminar semi business for $110M
QuantumCTek	-	Strong Buy (2 analysts)	¥336	China’s leading QKD provider

Extreme Volatility Warning

Quantum stocks are among the most volatile on the market. IonQ alone has had 98 daily moves greater than 5% in the past year. Current valuations are historically stretched - Rigetti trades at ~1,080x sales and D-Wave at ~325x sales. Most quantum companies remain pre-profit with limited commercial revenue. Stocks have pulled back 30-50% from October 2025 peaks. ETF rebalancing (e.g., Defiance Quantum ETF) can cause significant forced selling.

NYSE vs NASDAQ

NYSE (New York Stock Exchange): The world's largest exchange by market cap. Uses designated market makers and has stricter listing requirements.

NASDAQ: Fully electronic exchange, traditionally home to technology companies. Lower listing fees and faster execution.

Recent Developments

IonQ (December 2025)

Completed $1.065B acquisition of Oxford Ionics - largest quantum acquisition ever
Pursuing 10,000-qubit system via Oxford Ionics technology
Invested in Horizon Quantum’s $110M PIPE financing
Q3 2025 revenue: $12.4M

D-Wave (December 2025)

Raised $400M in at-the-market equity offering at $15.18/share
Cash balance: ~$836M (up 2,700% YoY)
Q3 2025 revenue: $3.7M (up 100% YoY)
Launched dedicated government business unit
133 total customers including Lockheed Martin, BASF, Deloitte

Rigetti (December 2025)

$100M+ strategic partnership with Quanta Computer over 5 years
Received $35M direct investment from Quanta
$5.7M in new quantum computing system orders
Collaborating with QphoX and UK NQCC on optical readout

Quantum Computing Inc. (December 2025)

Acquired Luminar’s semiconductor business for $110M
Advancing photonic quantum optimization technology
41 employees

Tech Giants with Quantum Divisions

Major technology companies with significant quantum programs (quantum represents a portion of business):

Prices from Yahoo Finance as of December 18, 2025

Company	Ticker	Exchange	Price	Quantum Initiative
IBM	IBM	NYSE	$296.49	IBM Quantum, 100K+ qubit roadmap by 2033
Alphabet/Google	GOOGL	NASDAQ	$296.69	Google Quantum AI, Willow chip (105 qubits)
Microsoft	MSFT	NASDAQ	$476.12	Azure Quantum, topological qubits
Amazon	AMZN	NASDAQ	$225.87	Amazon Braket, quantum networking
Intel	INTC	NASDAQ	$40.30	Silicon spin qubits, Tunnel Falls chip (+71% YTD)
NVIDIA	NVDA	NASDAQ	$171.56	CUDA-Q, quantum simulation
Honeywell	HON	NASDAQ	$199.89	Quantinuum parent (owns 54%)

Google Willow Chip - December 2025

Google's Willow quantum chip, announced December 2025, achieved a breakthrough in quantum error correction. The 105-qubit processor demonstrated that adding more qubits actually reduces errors - a key milestone toward fault-tolerant quantum computing. This announcement was a major catalyst for the quantum stock rally.

Indirect Quantum Exposure

Investing in tech giants provides diversified exposure to quantum computing without the volatility of pure-play quantum stocks. However, quantum revenue represents a tiny fraction of these companies' businesses. For example, IBM's quantum division is part of a $60B+ annual revenue company.

SPACs and Upcoming IPOs

What is a SPAC?

A Special Purpose Acquisition Company (SPAC) is a "blank check" company that raises money through an IPO specifically to acquire a private company, taking it public without a traditional IPO process. SPACs offer faster market access but have faced scrutiny for valuations and disclosure practices. Most pure-play quantum stocks went public via SPAC rather than traditional IPO.

Pending: Horizon Quantum Computing

Breaking: $110M PIPE Announced December 5, 2025

Horizon Quantum and dMY Squared announced $110M in PIPE financing - exceeding their target by 120%. Lead investors include IonQ and a Fortune 50 technology company. Combined with ~$27M in trust, Horizon will have ~$137M cash at closing. On December 3, Horizon became the first quantum software company to own and operate its own quantum computer.

Expected Ticker: HQ
Exchange: NASDAQ
Expected Listing: Q1 2026
Transaction: $503 million SPAC merger with dMY Squared Technology Group
PIPE Financing: $110M (announced December 5, 2025)
Focus: Quantum software development tools and compilers (Triple Alpha platform)
Profile: View Horizon Quantum Computing

Recent SPAC History

Most current pure-play quantum stocks went public via SPAC mergers rather than traditional IPOs:

Company	SPAC Partner	Completion	Proceeds	Current Market Cap
IonQ	dMY Technology Group III	Oct 2021	$636M	~$16.7B
Rigetti	Supernova Partners II	Mar 2022	~$260M	~$7.6B
D-Wave	DPCM Capital	Aug 2022	~$300M	~$8.7B
Arqit	Centricus Acquisition	Sep 2021	~$400M	~$444M

SPAC Performance Patterns

Many SPAC-listed companies, including quantum stocks, experienced significant price declines from their initial valuations as post-merger trading began. IonQ traded as low as $3.04 in December 2022. However, the 2025 quantum rally has pushed most stocks well above their SPAC merger valuations. Investors should focus on fundamental progress rather than initial SPAC valuations.

Potential Future IPO Candidates

Companies that may pursue public listings based on valuation, funding stage, and market positioning:

Company	Last Valuation	Recent Funding	Profile
PsiQuantum	$7B	$1B Series E (Sep 2025)	View Profile
IQM	~$1B	€320M Series B	View Profile
Atom Computing	-	Microsoft partnership	View Profile
QuEra Computing	-	Major enterprise partnerships	View Profile
Alice & Bob	-	€100M Series B	View Profile
Xanadu	-	Series C funding	View Profile
Pasqal	-	€100M+ raised	View Profile
Oxford Quantum Circuits	-	UK superconducting leader	View Profile

Note: Oxford Ionics was acquired by IonQ for $1.065B (completed September 2025).

IPO vs Acquisition Paths

Not all well-funded quantum startups will IPO. Some may be acquired by larger companies (like IonQ's acquisition of Oxford Ionics), merge with competitors, or remain private while building technology. The $7B PsiQuantum valuation makes it a likely IPO candidate, but timing depends on market conditions and company readiness.

Key Metrics to Watch

When evaluating quantum stocks:

Revenue Growth - Cloud access, system sales, consulting
Customer Count - Enterprise and government contracts
Cash Runway - Burn rate vs. available capital
Technical Milestones - Qubit counts, error rates, logical qubits
Strategic Partnerships - Cloud integrations, industry collaborations

Understanding Key Terms

Qubit Count: The number of quantum bits in a processor. More qubits enable more complex calculations, but quality matters as much as quantity.

Gate Fidelity: How accurately quantum operations are performed. Higher fidelity (closer to 100%) means fewer errors.

Coherence Time: How long qubits maintain their quantum state. Longer times allow more operations before information is lost.

Logical Qubits: Error-corrected qubits built from multiple physical qubits. Required for fault-tolerant quantum computing.

QKD (Quantum Key Distribution): A method of secure communication that uses quantum mechanics to detect eavesdropping. Used by Arqit and QuantumCTek.

Reading Financial Metrics

Cash Runway: Cash on hand divided by monthly burn rate. Indicates how long a company can operate before needing additional funding. D-Wave has ~$836M cash as of Q3 2025.

ARR (Annual Recurring Revenue): Predictable revenue from subscriptions or ongoing contracts. Key metric for quantum cloud service providers.

Bookings: Total value of signed contracts, including future revenue not yet recognized. Often highlighted by quantum hardware companies.

Risk Factors

Investment Risk Warning

Technology Risk: Quantum computing is still emerging. No clear winner among qubit technologies. Practical quantum advantage for commercial applications remains limited.

Financial Risk: Most pure-play quantum companies are pre-profit with high cash burn rates. Stock prices are highly volatile and have experienced 50-90% declines from peaks.

Valuation Risk: Current multiples (300-1000x sales) are historically unprecedented and assume massive future growth that may not materialize.

Competition Risk: Tech giants (Google, IBM, Microsoft) have significant quantum programs with vastly greater resources than pure-play startups.

Timeline Risk: Commercially useful fault-tolerant quantum computers may be 5-10+ years away. Many current use cases can be solved with classical computing.

Historical Context

The current quantum stock rally shares characteristics with previous technology bubbles. While quantum computing is a real technology with genuine potential, investors should be aware that:

• Most "next big thing" technologies experience early bubble-bursting events
• High volatility is normal - stocks have moved 10-20% in single trading sessions
• Long-term success requires surviving multiple market cycles

Additional Resources

Full Public Companies Guide - Detailed analysis of each publicly traded quantum company
Investment Tracker - Funding rounds and valuations
Company Directory - Browse all 958 quantum companies
Quantum Glossary - Definitions of quantum computing terms

Staying Informed

Quantum technology evolves rapidly. Follow company investor relations pages, SEC filings (10-K, 10-Q, 8-K), earnings calls, and industry publications for the latest developments. Key events to watch include quarterly earnings, technical announcements, partnership deals, and funding rounds.

Investor Relations:
• IonQ IR | Rigetti IR | D-Wave IR | Arqit IR

Disclaimer: This information is for educational purposes only and does not constitute investment advice. Quantum technology stocks are speculative investments with significant risks. Conduct your own research and consult a qualified financial advisor before investing.

Last Updated: December 19, 2025

Sources: Yahoo Finance, MacroTrends, Investing.com, TradingView, CNBC, The Motley Fool, Horizon Quantum