Billionaires Have Chosen Their Favorite Quantum Computing Stock, and It's Not IonQ, Rigetti Computing, or D-Wave Quantum

1 week ago 7

Sean Williams, The Motley Fool

Wed, April 29, 2026 astatine 6:26 AM CDT 4 min read

Though artificial quality (AI) has captivated investors for years, it's not the lone game-changing exertion making waves connected Wall Street. The emergence of quantum computing is estimated to make up to $850 cardinal successful planetary economical worth by 2040, according to analysts astatine Boston Consulting Group.

Quantum computing stocks were besides concisely moving circles astir AI stocks past year. As of mid-October 2025, shares of IonQ (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), and D-Wave Quantum (NYSE: QBTS) had rallied arsenic overmuch arsenic 6,200% connected a trailing 12-month basis. These are life-altering returns that are bound to get Wall Street's attention.

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A rendering of a quantum machine performing rapid, simultaneous calculations.

But you mightiness beryllium amazed to larn that these pure-play stocks aren't the preferred mode billionaires person chosen to put successful the quantum computing revolution.

Historical headwinds whitethorn rainfall connected the quantum computing parade

Although IonQ, Rigetti, and D-Wave person soared, each 3 are facing an assortment of humanities headwinds.

For instance, each game-changing exertion and inclination since the advent of the net much than 3 decades agone has navigated an aboriginal signifier bubble-bursting event. These bubbles signifier and subsequently burst due to the fact that investors consistently overestimate however rapidly an innovation volition beryllium adopted and/or optimized. Quantum computers are a agelong mode from mainstream inferior and optimizing income and profits for the companies deploying them. In different words, quantum computing has each the hallmarks of a bubble successful the making.

The valuations of IonQ, Rigetti Computing, and D-Wave Quantum can't beryllium justified, either. History shows that price-to-sales (P/S) ratios supra 30 for companies astatine the forefront of a next-big-thing inclination aren't sustainable implicit extended periods. This pure-play trio ended the erstwhile week astatine P/S ratios ranging from 94 to 735.

Worst of all, the obstruction to introduction successful the quantum computing abstraction is comparatively small, which is astir apt wherefore billionaires person settled connected Google genitor Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) arsenic their preferred quantum computing banal to own.

Image source: Getty Images.

Alphabet is the preferred quantum computing banal of billionaire investors

Unlike pure-play quantum computing stocks, Alphabet has respective established, highly profitable operating segments with sustained competitory advantages. Google is simply a virtual monopoly that accounts for astir 90% of planetary net hunt traffic, portion YouTube is the second-most-visited tract successful the satellite down Google. Alphabet is ideally positioned to bid exceptional advertisement pricing power.

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