Quantum computing stocks are heating up in the AI space, with the Defiance Quantum ETF up 15% this year—beating both the S&P 500 and Nasdaq Composite.
Four quantum players are getting the most buzz: IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing. But none of these have significant or steady revenue yet. They’re sinking cash fast, relying heavily on stock issuances to fund expensive R&D and capital projects. That’s risky and potentially dilutive for investors.
Valuations for these companies are sky-high—higher than past tech bubbles. Their teams are trying to grab cash now before the hype fades and stock prices correct. 
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On the safer side: Big tech giants in the AI game—Microsoft, Amazon, Alphabet, and Nvidia—are quietly pushing quantum computing too. These companies have multibillion-dollar AI businesses and have developed their own quantum chips (Majorana, Ocelot, Willow). Nvidia is even expanding quantum features through its CUDA software.
The upside? These giants have established revenue streams and broad AI investments. The smaller quantum firms depend solely on breakthrough quantum sales and could face insolvency if they don’t scale fast enough.
If you want one quantum stock to watch, it’s Nvidia. Dominant in chips and data centers, Nvidia’s reaching further into autonomous vehicles, robotics, and quantum computing. It’s positioned to grow well beyond its core business.
Adam Spatacco of The Motley Fool puts his money on Nvidia as the top quantum play.
Adam Spatacco stated:
Adam Spatacco has positions in Alphabet, Amazon, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Microsoft, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
