What's New in Quantum Computing? Nasdaq Explores the Sector's Rise in Innovation and Investment - Nasdaq

Sep 21, 2026 1:15PM EDT Written by Nasdaq Newsroom Quantum computing has emerged as a rapidly growing sector. There has been an increase in companies developing the technology entering the public markets in recent years, private investment is accelerating, and Nasdaq Global Indexes has added quantum computing to one of its leading innovation indexes.According to McKinsey research, quantum computing could generate multi-billion-dollar enterprise value over the next decade, with an economic impact that could reach approximately $2.7 trillion by 2035. Quantum computing companies generated just over $1 billion in revenue in 2025 alone."Quantum technology helps organizations solve problems that are currently costly, difficult, or impractical using classical computers," said Ilaria Sangalli, Head of Index Insights for EMEA at Nasdaq, who authored the index team's research on the quantum sub-theme. Potential applications include molecular simulation for drug discovery, portfolio optimization in finance, supply chain management, and cybersecurity.As emerging technologies require capital to scale, the trend is currently playing out in public markets. Fifteen Nasdaq-listed U.S. companies specializing in AI and quantum computing hardware and software, have a combined market capitalization of about $3.78 trillion. Three-quarters of those companies have listed since 2020, including the recent listings of D-Wave Quantum, Quantinuum, and IQM Quantum Computers, with the largest wave arriving in 2021 and a new cohort emerging in the last two years.[1]The pattern resembles earlier cycles in AI, cloud computing, and cybersecurity, when investors began to treat each as a distinct category. In the recent enhancement of the Nasdaq Global Artificial Intelligence and Big Data™ Index (NYGBIG™), quantum computing became a dedicated sub-theme alongside areas like deep learning, cloud computing, and big data.Since its launch, the index has followed a forward-looking, patent-driven approach designed to identify companies at the forefront of technological innovation.The effectiveness of this approach has been reflected not only in the index's ability to identify innovative companies, but also in its long-term performance. Since its launch on November 12, 2018, NYGBIG has delivered a total return of approximately 384% (22.8% on an annualized basis). This pattern of outperformance has continued throughout the recent AI-driven investment cycle. Since July 2023, NYGBIG generated a total return of 139% (33% on an annualized basis), outperforming the Nasdaq-100®, broader U.S. equities, and several established AI benchmarks.[2] Of the 1,181 companies with patent activity related to NYGBIG's sub-themes, 247 held patents connected to quantum computing. "This suggests that quantum computing is evolving beyond a niche research field into a distinct technology ecosystem," Sangalli said. Her analysis also notes American leadership in the field: U.S. companies account for 58% of the quantum computing contribution score, a measure of each company's share of recently approved patents compared with other companies active in the same field. [3]The research also found that in addition to pure-play companies, the enhancement brought in traditional hardware companies with significant patent activity in the field, which placed them primarily in the quantum computing sub-theme. The quantum sub-theme's inclusion is closely tied to its convergence with AI. Quantum systems could accelerate optimization and simulation tasks running on classical computers, while AI is being applied to quantum algorithm development and error correction. "The two technologies may reinforce one another rather than develop independently," Sangalli said.Investment continues to grow. Quantum technology startups attracted $12.6 billion in venture and private funding in 2025, more than six times the 2024 level, with roughly 90% directed at quantum computing specifically. Governments are engaged, viewing the technology as critical for national security and cryptography; the U.S. government announced about $2 billion in quantum commitments in May 2026 and has taken minority stakes in leading companies. Yet the funding mix has flipped. Public money made up about one-third of total investment in 2024 and just 3% in 2025. Sangalli expects interest in quantum to build as more commercial use cases emerge, with investors gaining exposure through a mix of pure-play quantum companies and larger technology firms investing in the technology through R&D spending, including patent development.The boundaries of the category will likely blur, much as they have elsewhere. "Would you call Microsoft an AI company nowadays?" she said. "It's much more."Sources:[1] Source: Pitchbook and Factset [2] Nasdaq and Bloomberg [3] Nasdaq AI Team, Nasdaq, IFI Claims. Patent data as of May 31, 2026Cautionary Note Regarding Forward-Looking Statements:Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “could,” “may,” “expects,” “likely,” “potential,” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements regarding the potential economic impact and commercial applications of quantum computing, future investment and investor interest, the convergence of quantum computing and artificial intelligence, the development of quantum technologies, and anticipated changes in the composition or boundaries of the technology sector. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. 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