3 Quantum Computing actions to catapult you into the millionaires club

Quantum computing, along with other forms of innovative technology such as artificial intelligence, has attracted the attention of investors due to its greater potential for exponential growth in the near or distant future. Some companies are popping up that work exclusively on quantum computing technology, such as ionQ (NYSE:IONQ extension) mentioned below. These are some of the best quantum computer titles.

Other established tech companies, such as Microsoft (NASDAQ:MSFT extension), Alphabet (NASDAQ:GOOGL), AND Amazonia (NASDAQ:AMZ extension), have many avenues for technological innovation, and quantum computing is just one of them.

The technology helps produce more efficient results for problem solving methods than ordinary computer technology by using the benefits of quantum mechanics. Quantum mechanics focuses on the behavior of various particles at the atomic and subatomic level. Quantum mechanics and computing are complicated concepts, but it’s easy to see the new capabilities and advantages this growing field of technology has over ordinary computing power.

Below I will talk about the quantum computing stocks that are making progress and offering a bright future in the field of quantum computing.

IonQ (IONQ)

ionQ is one of those College Park, Maryland-based computer science stocks that provides access to quantum computing through Amazon Web Services (AWS), Microsoft Azure, and other cloud platforms. IonQ was founded in 2015, and in October of 2021, the company began trading publicly as the first pure quantum computing company through a special purpose acquisition company (SPAC) merger with dMY Technology Group.

The company has more products on offer. Their flagship model is their IonQ Forte quantum computer with new and improved gate fidelity through ion trap technology, creating a much more efficient system.

IonQ’s share price year-to-date is up 300% due to a number of factors, including the recent round of partnership deals with BearingPoint, a European-based management firm, and the UAE Quantum Research Center United. They also announced that their anticipated booking will double from last year to between $45 million and $55 million.

Discards Computing (RGTI)

Informatics Rejections (NASDAQ:RGTI) builds quantum computers and related processors; their machines can access the various cloud systems through Quantum Cloud Services. The company is headquartered in Berkeley, California, and also has offices in London, UK and Sydney, Australia.

As of early October 2021, Rigetti Computing was listed on the NASDAQ through a merger (SPAC) with Supernova Partners Acquisition Company, and since the beginning of the year, the company’s stock price has increased by 110%.

Since the first quarter earnings release, they reported a 5% increase in revenue and a net loss that was up 32% from last year.

Rigetti’s next-generation 84-qubit system, the Ankaa-1 system, began testing in March and is expected to be deployed among select customers in mid-2023. And also mentioned in the earnings release is that the company expects more will be needed. additional funding from late 2024 to early 2025 to meet business goals.

International Business Machines (IBM)

International Business Machines (NYSE:IBM) offers a hybrid cloud and server platform as well as a technology infrastructure, and have also expanded into the fields of artificial intelligence and quantum computing. The company has delivered several products revolving around quantum computing, including Qiskit Runtime, a service that offers more efficient algorithms for completing tasks, and Quantum-Safe, which has yet to be released, offers users the ability to improve cybersecurity capabilities along with the growing quantum technology sector.

IBM reported first-quarter earnings in April, with revenue revolving around software up three year-over-year. In late June, they announced plans to deploy the first IBM Quantum System One at Rensselaer Polytechnic Institute located near Albany, New York as part of IBM’s Quantum Computational Center development. It should be operational in 2024.

As of publication date, Noah Bolton did not hold (either directly or indirectly) positions in the securities referred to in this article. The views expressed in this article are those of the writer, subject to InvestorPlace.com Guidelines for publication.