Quantum Computing With Almost Zero Earnings and 50X Share Price Surges

Publicly traded quantum companies, particularly the pure-play innovators, have delivered insane stock price runs over the past 1-2 years despite revenues that barely register. IonQ (IONQ), Quantum Computing (QUBT), Rigetti Computing (RGTI), and D-Wave Quantum (QBTS) dominate as publicly traded companies. The market caps collectively exceed $50 billion but with revenues totaling under $100 million. The sector’s allure? Quantum computing promises to shatter the classical limits of computing. They could eventually solve intractable problems in optimization, cryptography, materials science, and drug discovery—problems that could unlock trillions in economic value by 2040. Fault-tolerant quantum (millions of logical qubits) is 3 years optimistically (but likely with neutral atoms) but could easily end up taking 10 years.

Quantum Computing Inc. (QCi, stock symbol QUBT) has about a $5 billion valuation. They focus on room-temperature photonic quantum computing, leveraging the quantum properties of light (photons) rather than superconducting or trapped-ion methods that require cryogenic cooling. Their technology uses non-linear quantum optics and nanophotonics, fabricating chips from thin-film lithium niobate (TFLN) to create integrated photonic engines. This enables high-bandwidth, low-power operations at ambient temperatures, making it more practical and cost-effective for real-world applications like optimization, AI, cybersecurity, and remote sensing.

Entropy Quantum Computing (EQC) platform, implemented in products like the Dirac-3. EQC solves complex optimization problems (e.g., minimizing or maximizing objective functions in binary or integer spaces) by finding the ground state of systems with many interconnected variables. Unlike gate-based quantum computers that perform universal operations, EQC uses a probabilistic approach inspired by quantum annealing but with photonic qudits (quantum digits with multiple states, d ≥ 2 dimensions per unit) for faster, native handling of integer problems. Supporting products include the EmuCore reservoir computer (for time-series analysis with up to 60,000 virtual nodes at 1.25G nodes/second), entanglement sources, frequency converters, and quantum random number generators (uQRNG).

Current Qubit ScaleQCi’s Dirac-3 entropy quantum computer operates with over 11,000 qubits in binary mode, enabling polynomial-speed advantages for approximate solutions to hard optimization problems. It uses qudits for enhanced efficiency, where each qudit’s multi-dimensional states (beyond binary 0/1) allow it to represent more information per unit, scaling effective computational power without exponentially increasing hardware. OpenAI CEO Sam Altman participated in Rigetti’s early funding round. He sees Quantum computing as AI’s eventual accelerator. Sam also invested in Oklo’s modular nuclear reactors as potentially powering AI data centers. IonQ (IONQ) demonstrated accurate computation of atomic-level forces for complex chemical systems using a quantum-classical algorithm, potentially aiding decarbonization technologies. IonQ achieved the 64 performance benchmark three months ahead of schedule with its Tempo system in September. Rigetti (RGTI) announced the general availability of its 36-qubit multi-chip quantum computer, Cepheus-1-36Q, which features improved gate fidelity (99.5%) and reduced error rates. Rigetti got $5.7 million in purchase orders for two quantum systems post-second quarter. D-Wave (QBTS) launched the Advantage2 quantum computer in the second quarter of 2025, which offers improved coherence time and energy scale. IonQ completed the acquisition of Vector Atomic, a quantum sensing company, expanding its portfolio to include precision atomic clocks and quantum-based positioning systems. IonQ is accessible through Amazon Braket. Brian WangBrian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology. Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels. A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.