Quantum Computing

Quantum computing is widely considered a powerful and exciting technology poised to outperform what the industry refers to as classical computing. The technology operates based on the principles of subatomic physics. A quantum computer uses subatomic particles, such as protons and electrons, and can perform computations exponentially faster than traditional computers.

 

But unlike classical computing, some quantum computing systems require specialized environments, including the need to store the machines at extremely low temperatures. They are also known to be very expensive, although quantum computing players offer a range of options.

 

 

(Cori Lin/Onibaba Studio for Illinois Answers Project) 

The Year of Quantum Computing

Shares of IonQ rose in September 2024 after the company announced a $54.5 million contract with the U.S. Air Force Research Lab. Quantum computing stocks also rallied after Amazon announced its Quantum Embark Program, aimed at helping customers get ready for the technology.

The year closed with even bigger news. On Dec. 9, Google unveiled its latest quantum chip, called Willow. A week later, Quantum Computing Inc. announced that the National Aeronautics and Space Administration's Goddard Space Flight Center had awarded the company a quantum computing contract. The news sparked a rally not just in shares of Quantum Computing Inc., but also D-Wave, Rigetti and IonQ.

How Big Is Quantum Computing Market?

Quantum computing is projected to become a $90 billion to $170 billion market by 2040, according to a July 2024 Boston Consulting Group report.

 

Quantum Computing Stocks

• RGTI  Rigetti Computing 

• QBTS  D-Wave Quantum 

• IONQ  IonQ 

• QUBT Quantum Computing Inc. 

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