Quantum Computing Stocks Are Falling. Should You Buy IonQ or D-Wave, or Just Stick With Nvidia?

Quantum computing stocks spent precocious 2025 sprinting for the ceiling, but present they're rediscovering gravity. IonQ (NYSE: IONQ) is down 37% implicit the past month, and D-Wave Quantum (NYSE: QBTS) has fallen by 28% successful the aforesaid period. Even shares of Nvidia (NASDAQ: NVDA), which doesn't straight vie successful quantum computing contempt important indirect participation, person been drifting sideways arsenic investors rebalance the artificial quality (AI) trade.

So are the 2 beaten-down axenic plays worthy buying connected the dip, oregon is it amended to conscionable bargain Nvidia?

Missed Nvidia successful 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" awesome flashed for a little-known chipmaker called Nvidia. For the archetypal clip successful years, that aforesaid "Total Conviction" awesome is flashing for a institution 1/100th the size of Nvidia. Continue »

How the axenic plays size up

The archetypal happening to cognize astir IonQ and D-Wave is that they're some banking connected the national authorities arsenic a large customer, some present and successful the future, conscionable similar galore different quantum computing businesses.

IonQ has implicit $100 cardinal successful Air Force Research Lab contracts, positive extended DARPA and Oak Ridge enactment queued up. D-Wave has a $1.6 cardinal National Science Foundation (NSF) grant, and a $100 cardinal missive of intent for aboriginal spending nether the Chips Act -- but that's not the aforesaid arsenic an bid from a paying customer, astatine slightest not yet.

In presumption of revenue, IonQ brought successful $64.7 cardinal successful the archetypal 4th of 2026, up 755% twelvemonth implicit year, and raised its full-year guidance to betwixt $260 cardinal and $270 million. So it's not having overmuch of a occupation uncovering sources of growth, though there's inactive nary timeline connected erstwhile it mightiness beryllium profitable.

D-Wave's gross was lone $2.9 cardinal successful the aforesaid quarter, down 81% compared to a twelvemonth ago, acknowledgment to a one-time $12.6 cardinal strategy merchantability past year, though its Q1 bookings jumped to $33.4 million. It presently looks highly reliant connected the projected Chips Act backing to capable retired its apical line, arsenic its halfway gross isn't increasing much, adjacent aft taking into relationship the large merchantability from 2025.

Both of these companies are highly risky investments, and they mightiness not ever beryllium profitable capable to instrumentality superior to investors.

For the moment, they're much reliant connected narratives and catalysts than their advancement toward profitability, arsenic adjacent starting down that roadworthy is astatine slightest a fistful of years into the aboriginal for both. Among these two, IonQ frankincense has a just spot much traction and $3.1 cardinal successful currency and equivalents, whereas D-Wave lone has $588 million.