Quantum computing represents a fundamental shift from classical systems, which process data using binary bits that exist as zeros or ones in underlying code bases. Quantum machines use qubits that have a property called superposition, which allows them to evaluate a huge number of possibilities simultaneously.
This capability holds particular promise for artificial intelligence (AI), where quantum computers will be able to solve complex optimization problems faster, improve machine learning and simulate molecular interactions, and many other applications. Quantum computing could add up to $2.7 trillion to the global economy by 2035, according to McKinsey & Company, highlighting the scale of opportunity as the technology moves from laboratory curiosity to practical utility.
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What are the most popular quantum computing stocks?
IonQ (New York Stock Exchange: IONQ), Discards calculations (NASDAQ:RGTI) and D-Wave Quantum (NYSE: QBTS) are major publicly traded companies specializing in quantum computing hardware and services.
IonQ uses trapped ion qubits in its quantum systems, which aim to improve artificial intelligence models and generate better data for research purposes. Righetti, meanwhile, is using superconducting qubits to build quantum computers that customers can use with existing artificial intelligence tools. Both IonQ and Rigetti offer access to their platforms through cloud environments, aiming to integrate with infrastructure providers such as Microsoft Azure, Amazon Web services and Google Cloud. D-Wave has primarily focused on a niche technology called quantum annealing, which is only useful for solving optimization problems and sampling problems. However, such problems include many real-world applications in areas such as logistics, finance and drug development.
In these companies, technology remains heavily research-driven. Although commercial systems and access to the cloud are expanding, enterprise-grade, fault-tolerant machines capable of delivering measurable quantum advantage are still a long way off.
Analysis of the financial realities of quantum-pure games
While they all generate some revenue and are supported by government subsidies, each of these quantum-clean projects continues to generate significant operating losses. All of them relied on repeated increases in equity capital to finance their research and development. The result has been continued dilution of shareholders.
The story continues
IONQ Revenue Data (TTM) from YCharts.
Estimates of quantum-pure games reflect extreme assumptions rather than specific fundamental principles. IonQ has a price-to-sales (P/S) ratio of around 58, while Rigetti and D-Wave have a P/S ratio of around 480. For cash-burning operations whose progress has not yet translated into profitability or self-funding growth, these valuation profiles are stretched to say the least.
What are the best quantum computing stocks?
From my point of view, Nvidia (NASDAQ: NVDA) is the strongest buy candidate for any investor looking to incorporate quantum computing into their portfolio.
Nvidia provides the classical infrastructure needed to build quantum machines through its CUDA-Q platform, which enables hybrid quantum-classical programming for GPUs, CPUs, and quantum processors. As quantum AI scales, these systems will increasingly rely on the Nvidia ecosystem for next-generation algorithms that effectively combine the strengths of classical and quantum computing.
Meanwhile, Nvidia’s price-to-earnings (P/E) ratio of 32 is hovering near its lowest level in nearly seven years. This discount suggests that the potential benefits of introducing quantum computing and further expanding artificial intelligence infrastructure are not yet fully reflected in Nvidia’s share price.
NVDA PE Ratio data from YCharts.
This makes Nvidia stock an attractive buy to take advantage of near-term data center construction momentum while offering the opportunity to take advantage of long-term advances in quantum computing over the next decade.
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Adam Spatacco has positions in Amazon, Microsoft and Nvidia. The Motley Fool has positions and recommends Amazon, IonQ, Microsoft, and Nvidia. The Motley Fool has disclosure policy.
Forget IonQ, Rigetti Computing and D-Wave Quantum. This trillion-dollar artificial intelligence (AI) stock is the best opportunity for quantum computing, and it’s currently trading at a 7-year low valuation. originally published by The Motley Fool