Quantum computing stocks rise as US stakes $2B on sector build-out

Shares in listed quantum computing groups rallied after the US government announced a $2 billion program to support the sector, including equity investments of about $100 million each in a range of startups. The move, aimed at accelerating domestic capabilities in quantum technologies, boosted sentiment across a still-nascent industry where revenues remain limited but long-term expectations are rising sharply.

Shares of IonQ Inc. (NYSE: IONQ), D-Wave Quantum Inc. (NYSE: QBTS), and Rigetti Computing Inc. (NASDAQ: RGTI) rallied on the announcement. IonQ, which was not among the nine companies selected for direct funding, remains the largest of the trio by revenue, generating about $130 million in 2025, compared with $25 million for D-Wave and $7 million for Rigetti.

Visible Alpha consensus forecasts point to rapid expansion over the near term. IonQ is expected to more than double revenues in 2026 to $270 million, a 108% year-on-year increase. D-Wave and Rigetti are projected to grow 79% and 241% respectively, to $44 million and $24 million.

Longer-term projections point to steep revenue scaling into the end of the decade. By 2030, IonQ is expected to reach roughly $3 billion in sales, implying a 2026–30 CAGR of 82%. D-Wave is forecast to expand to about $893 million over the same period, implying 112% CAGR, while Rigetti is seen reaching $786 million, implying 139% CAGR.

Within this outlook, D-Wave’s system sales segment, which reflects full quantum computing hardware installations rather than access-based services, is expected to become increasingly material. Analysts project system sales rising to about $28 million in 2026 and accelerating sharply thereafter, potentially reaching $759 million by 2030, by which point they could account for the majority of the company’s revenue mix.

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 This article was published by Visible Alpha, part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.