Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
Why I’m Watching These 3 Quantum Computing Stocks Right Now
Ruby Layram
10th Aug 2026
I’ll be honest, six months ago I couldn’t have explained what a qubit was if you’d paid me. But quantum computing has quietly become one of the biggest stories in the market this year, and this week made it impossible to ignore – IonQ, D-Wave Quantum and Rigetti Computing all reported earnings within days of each other, and the reaction across the sector has been dramatic. So I’ve been digging into what’s actually going on, and here’s what I’m watching, and why.
Quick disclosure before we start: this isn’t a “buy these stocks” article. It’s me thinking out loud about a trend that’s genuinely fascinating, mixed with a reminder that this is one of the most speculative corners of the market right now, so tread carefully!
Also read: The next hot tech stock to buy in 2026
* Some of the links in this article are affiliate or partner links. If you choose to purchase through them, MoneyMagpie may receive a commission at no additional cost to you. We only recommend products and services we believe offer value to our readers, and our editorial content is always produced independently.
Why Quantum Computing Stocks Are Suddenly Everywhere
Quantum computers use the strange rules of quantum physics to process certain types of problem far faster than the computers we use today – think drug discovery, cryptography, and complex logistics. It’s still very early-stage technology, but 2026 has been the year the sector properly caught the market’s attention.
The S&P Kensho Global Quantum Computing Technologies Index was up around 69% by the end of May, dramatically outpacing the wider S&P 500. That rally has been fuelled by a mix of government backing – including $2 billion in US Department of Commerce funding and executive orders supporting the sector – and a string of individual company announcements that have sent share prices swinging wildly, in both directions.
This week gave a perfect snapshot of why the sector is so compelling and so risky at the same time: three of the best-known pure-play quantum stocks all posted second-quarter results within a few days of each other, and the market’s reaction to each was completely different.
INVEST IN QUANTUM COMPUTING STOCKS
The 3 Quantum Computing Stocks I’m Watching
1. IonQ (IONQ)
IonQ had, by some distance, the strongest week of the three. Second-quarter revenue came in at $80.1 million – up 287% year-on-year and comfortably ahead of what analysts were expecting. The company also raised its full-year revenue guidance, completed a $1.8 billion acquisition of semiconductor firm SkyWater Technology to build out its own chip manufacturing capability, and picked up a $28 million contract extension from DARPA (the US defence research agency). Shares jumped double digits on the back of it, and Wedbush initiated coverage with a bullish rating.
Why I’m watching it: of the three, IonQ currently has the clearest growth story – real, fast-growing revenue rather than just promise. That doesn’t make it a safe bet, but it’s the one I find easiest to make a case for.
INVEST IN QUANTUM COMPUTING STOCKS
2. D-Wave Quantum (QBTS)
D-Wave is the other side of the coin. Its Q2 revenue came in well short of expectations – $3.1 million against a forecast of around $4 million – and the stock fell sharply on the news. Zoom out a little further, though, and the stock has still run from the mid-$16s to over $21 in recent sessions, and the company recently moved its listing from the NYSE to Nasdaq. It also has over $338 million in cash on the balance sheet, giving it a decent runway even with heavy losses.
Why I’m watching it: D-Wave is a good reminder of how choppy this sector can be. A single earnings miss wiped out a chunk of value in a day, even for a company with a healthy cash cushion. It’s the stock I’d point to if someone asked me “what does quantum computing volatility actually look like?”
INVEST IN QUANTUM COMPUTING STOCKS
3. Rigetti Computing (RGTI)
Rigetti had a strong run into its results, up over 8% on back-to-back days after news of a National Science Foundation-funded research partnership and a letter of intent for up to $100 million in CHIPS Act funding. Its actual Q2 revenue was modest – around $5.1 million, roughly in line with forecasts – but Benchmark started coverage with a Buy rating, and reinstated bullish ratings across IonQ, D-Wave and Rigetti at the same time.
Why I’m watching it: Rigetti feels like the most “story-driven” of the three right now – the share price has been moving more on partnerships and funding news than on revenue, which is worth remembering if you’re the type of investor who likes to see the numbers catch up with the narrative.
INVEST IN QUANTUM COMPUTING STOCKS
The Risks You Can’t Ignore
Here’s the bit I don’t want to gloss over, all three of these companies are, in traditional investing terms, very early and very expensive relative to their actual revenue.
We’re talking about companies with single-digit or double-digit millions in quarterly revenue carrying multi-billion dollar valuations. That’s not unusual for an emerging technology sector, but it does mean share prices can swing 10-20% in a single day on a single piece of news – as D-Wave just showed us. This is about as far from a “slow and steady” investment as it gets.
None of these three are UK-listed – they trade on the Nasdaq or NYSE, so UK investors would typically buy them as US shares through an investment platform that offers international dealing, which usually comes with an FX fee on the currency conversion. Most major UK platforms do allow you to hold US shares inside a Stocks and Shares ISA, but it’s worth checking your specific platform’s international dealing charges before you do anything.
What I’d Actually Do Next (If I Were You)
- Treat this as a “watch list,” not a shopping list. Following a stock and buying a stock are two very different levels of commitment – it’s fine to just keep an eye on a trend for a while before deciding whether it’s for you.
- If you do want exposure, consider whether a small position or a diversified tech/innovation fund suits you better than betting on a single early-stage company.
- Check the FX and international dealing fees on your platform before buying US-listed shares – they vary a lot and can eat into smaller trades.
- Keep any speculative bets to a small slice of your overall portfolio – the kind of money you could genuinely afford to see fall by 50% or more.
- Follow the next earnings season. With three very different reactions this week alone, the next round of results will tell us a lot about which of these stories is holding up.
Risk Disclaimer
This article reflects my own personal interest in a trending sector and is for general information and education only – it is not regulated financial advice, and MoneyMagpie does not recommend buying or selling any of the stocks mentioned. Quantum computing stocks are highly speculative, early-stage investments, and share prices can be extremely volatile. The value of investments can go down as well as up, and you could lose some or all of your money. Always do your own research and consider speaking to a regulated financial adviser before investing.
* Some of the links in this article are affiliate or partner links. If you choose to purchase through them, MoneyMagpie may receive a commission at no additional cost to you. We only recommend products and services we believe offer value to our readers, and our editorial content is always produced independently.
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