---
title: "Do you believe in the future of quantum computing?"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/34573916.md"
description: "HSBC stated that by using IBM's Heron quantum processor, it achieved a 34% improvement in predicting the likelihood of a bond trading at a certain price. McKinsey estimates that quantum computing revenue will grow to $72 billion within a decade, compared to just $4 billion in 2024. 🧠 Investment Logic • The potential market size for quantum computing is as high as hundreds of billions of dollars, covering fields such as cryptography, pharmaceutical R&D, logistics optimization, and AI. • Related companies are essentially long-term call options: success means 10x returns, failure means prolonged losses + dilution..."
datetime: "2025-09-27T11:26:55.000Z"
locales:
  - [en](https://longbridge.com/en/topics/34573916.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/34573916.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/34573916.md)
author: "[交易小菜](https://longbridge.com/en/profiles/9219512.md)"
---

# Do you believe in the future of quantum computing?

HSBC said that by using IBM's Heron quantum processor, it achieved a 34% improvement in predicting the likelihood of a bond trading at a certain price.

McKinsey expects quantum computing revenue to grow to $72 billion in a decade, compared to just $4 billion in 2024.

🧠 Investment Thesis

• Quantum computing has a potential market size of hundreds of billions of dollars, covering cryptography, drug development, logistics optimization, AI, and more.  
• Related companies are essentially long-dated call options: success means 10x returns, failure means long-term losses + dilution.  
• Governments and cloud giants are investing heavily to ensure R&D and early applications.  
• Risks are clear: uncertain technical paths, long commercialization timelines, and funding pressures.

⚡ IONQ — Industry Leader$IonQ(IONQ.US) 

• Tech: Trapped-ion qubits, long coherence time + high fidelity.  
• Strengths: Strong partners (AWS, Azure, Google Cloud, Hyundai), first publicly traded pure-play quantum computing firm.  
• Commercialization: 2023 revenue ~$22M, 2024 ~$43M, 2025E ~$90M.  
• Financials: ~$550M cash, longest runway, ~$22.4B market cap.  
• Positioning: The "index play" of quantum computing—expensive but most stable.

⚡ RGTI — High-Risk Small Cap$Rigetti Computing(RGTI.US) 

• Tech: Superconducting qubits, similar to Google/IBM.  
• Strengths: DARPA/DoE contracts, small-cap volatility.  
• Commercialization: 2023 revenue ~$12M, 2024 ~$11M, 2025E ~$8M.  
• Financials: ~$45M cash, tight funding, ~$10.4B market cap.  
• Positioning: High-risk lottery, execution challenges.

⚡ QBTS (D-Wave) — Alternative Path$D-Wave Quantum(QBTS.US) 

• Tech: Quantum annealing (optimization-focused, not universal QC).  
• Strengths: Real customers in logistics, finance optimization.  
• Commercialization: $8–10M annual revenue, some long-term orders. 2025E $25M.  
• Financials: Tight cash, ~$9B market cap.  
• Positioning: Niche player, may survive in its segment.

📌 Who’s Closer to Profitability?  
• QBTS: Real customers → could turn small profits in 2–3Y, but limited upside.  
• IONQ: Best long-term potential (5–7Y) via cloud clients/ecosystem.  
• RGTI: Funding crunch, tech laggard, least likely near-term.

### Related Stocks

- [IBM.US](https://longbridge.com/en/quote/IBM.US.md)
- [HSBC.US](https://longbridge.com/en/quote/HSBC.US.md)
- [00005.HK](https://longbridge.com/en/quote/00005.HK.md)
- [IONQ.US](https://longbridge.com/en/quote/IONQ.US.md)
- [RGTI.US](https://longbridge.com/en/quote/RGTI.US.md)
- [RGTIW.US](https://longbridge.com/en/quote/RGTIW.US.md)
- [QBTS.US](https://longbridge.com/en/quote/QBTS.US.md)
- [HSHD.SG](https://longbridge.com/en/quote/HSHD.SG.md)

## Comments (5)

- **天蝎大魔王 · 2025-10-02T15:09:46.000Z**: Bull
- **水上漂_6bnXiv · 2025-09-28T11:37:58.000Z**: There is a one-click packaged ETF,
  - **葱爆肥鱼** (2025-09-29T14:31:16.000Z): What ETF?
  - **陳若黛希** (2025-10-03T00:38:51.000Z): What ETF
  - **山谷老馬** (2025-10-13T05:38:55.000Z): Which one? Please