Top IonQ Alternatives, Competitors (2024)

FAQs

Which company is leading the quantum computing race? ›

1. International Business Machines Corporation (IBM)

IonQ, Inc. is a leader in quantum computing that delivers high-performance systems capable of solving the world's largest and most complex commercial and research use cases.

Prior to its public listing in late 2021, IonQ announced an aggressive growth plan of annual bookings for future years. IonQ's actual results have exceeded that original plan each year since. With 50% growth in 2022 as a backdrop, the company plans to grow even faster in 2023.

Now comes the hard part. After making the world's largest quantum chip (and cryogenic fridge), Big Blue is taking a more modular approach to build an error-corrected computer.

Massive growth in 2024

The good news is that IonQ is off to a strong start in 2024 in terms of its operating momentum. For the first quarter, IonQ reported $7.6 million in revenue, an increase of 77% year over year.

IonQ, Inc., (“IonQ”) announced today that it has entered into a merger agreement with dMY Technology Group, Inc. III (NYSE: DMYI. U), a publicly-traded special purpose acquisition company (“dMY III”).

If you're wondering is Bill Gates invested in IonQ? Yes, he is, and so too is Salesforce CEO, Mark Benioff, as well as Dell founder, Michael Dell.

So, if you're looking for the next AI, quantum computing might be it. And, if you're on the hunt for the next Nvidia (NASDAQ:NVDA), definitely put IonQ on your radar.

2024 Financial Outlook

For the full year 2024, IonQ expects revenue to be between $37 million and $41 million, with between $7.6 million and $9.2 million for the second quarter. For the full year 2024, IonQ is increasing its bookings expectation range to between $75 million and $95 million.

Is IonQ the largest quantum computer? ›

Our Highest Performing Quantum Computer

Built to tackle larger problems than any other IonQ system, Forte Enterprise is intended to redefine the limits of today's quantum computers.

The Shutdown and the Reasons Behind It

Researchers and government officials were concerned that the quantum computer might have connected with an extraterrestrial intelligence or even entered an unknown realm of computation.

Ongoing challenges. One reason IonQ is operating at a loss is that it's investing heavily in research and development -- outlays under that category nearly doubled year over year in Q1 to $32 million. The company remains in a race to improve.

The United States and China are considered the leaders in the field; many experts believe America still holds an edge. As the race to master quantum computing continues, a scramble is on to protect critical data.

America is the undisputed world leader in quantum computing even though China spends 8x more on the technology–but an own goal could soon erode U.S. dominance. China has earmarked at least $15 billion to develop its quantum computing capabilities.

Major tech firms like Microsoft and Google invest in quantum development, impacting cloud and AI advancements. Investing in tech giants with quantum initiatives could offer future returns as the technology matures.

Google Quantum AI

Google aims to build a quantum system with 1 million qubits within a decade.