Quantum computing is moving from lab prototypes to commercial pathways, and for investors, two pure-play names, Rigetti Computing (RGTI Quick QuoteRGTI - Free Report) and IonQ (IONQ Quick QuoteIONQ - Free Report) , stand out. Both are racing to deliver systems capable of real-world problem solving, but their strategies and technical bets are very different.

Rigetti is pushing ahead with superconducting qubits and a proprietary chiplet-based architecture. In the second quarter of 2025, the company unveiled Cepheus-1-36Q, the industry’s largest multichip quantum computer, halving error rates compared to its prior Ankaa-3 system and achieving a median two-qubit gate fidelity of 99.5%. Management reaffirmed a roadmap to launch a 100-plus qubit system by year-end, backed by a strong balance sheet with over $570 million in cash and no debt.

IonQ, meanwhile, continues to build on its trapped-ion platform, emphasizing long coherence times and high-fidelity operations. Its Forte Enterprise and Tempo systems are designed for commercial-grade performance, with partial error-correction features and an accelerated roadmap targeting higher algorithmic performance. On the financial front, IonQ delivered second-quarter revenue of $20.7 million, topping guidance by 15%. The company also has a strong balance sheet with $656.8 million in cash as of June 30 and $1.6 billion in pro forma post-equity raise in July. Together with multiyear government contracts and cloud partnerships, these resources give IonQ a clear edge in near-term commercialization.

For investors, the contrast is sharp: Rigetti offers a high-upside, technology-driven bet still reliant on execution and policy tailwinds, while IonQ presents a more commercially advanced story with a diversified revenue base. This faceoff examines both technological progress and execution to help investors gauge which stock may offer the stronger long-term reward.

Price Performance of RGTI & QBTS

Shares of Rigetti have gained 8.6% compared with IONQ's 3.6% growth in the year-to-date period.

Image Source: Zacks Investment Research

Two Technologies: Superconducting Qubits vs Trapped Ions

Rigetti continues to bet on superconducting qubits supported by a proprietary chiplet-based modular design. Its newly launched Cepheus-1-36Q system marked a milestone as the industry’s largest multichip quantum computer. By leveraging mature semiconductor-style scaling techniques, Rigetti is building toward a 100+ qubit system by year-end 2025, with management projecting a pathway to 1,000+ qubits and quantum advantage within the next four years. The company’s vertically integrated stack, from in-house fabrication to its Quantum Cloud Services platform, underscores its push to deliver universal, gate-based machines capable of addressing a wide span of industries once error correction and scale milestones are realized.

On the other hand, IonQ continues to advance its trapped-ion architecture, which uses electromagnetic fields to hold individual ions in place and lasers to manipulate them as qubits. This approach delivers exceptionally long coherence times and high gate fidelities, giving IonQ a technical edge in algorithmic accuracy. In its second-quarter 2025 update, the company outlined an accelerated roadmap that begins with the deployment of Tempo developer systems by 2025-end, supporting around 100 physical qubits. By 2028, IonQ expects to deliver interconnected systems capable of running error-corrected workflows, a crucial step toward fault tolerance. The company’s long-term target is ambitious, scaling to more than 2 million physical qubits (40,000–80,000 logical qubits) by 2030 with logical error rates below 1E-12 (<1 part in a trillion).

Two Commercial Strategies: Government Contracts vs Global Expansion

Rigetti’s commercial footprint remains heavily tied to government and research contracts, reflecting its stage of development. The company’s primary customers continue to be U.S. and the U.K. government agencies and national labs, where Rigetti supplies systems and participates in funded research programs such as DARPA’s QBI initiative and projects with the U.K.’s NQCC. Management emphasized that these contracts are “one-off” in nature and that long-term commercial traction will come as the company approaches quantum advantage in the next four years.

IonQ, by contrast, is demonstrating broad-based global expansion and diversified commercial wins. In the second quarter of 2025, the company announced an MoU with South Korea’s KISTI to accelerate that country’s quantum ecosystem, alongside an AI-focused collaboration with Japan’s AIST centered on quantum-AI applications. IonQ also partnered with Sweden’s Einride to pioneer quantum optimization in freight logistics and with Emergence Quantum in Australia to expand its APAC presence.

In the United States, IonQ backed the Texas Quantum Initiative to help position the state as a national hub, while securing a landmark $22 million deal with utility provider EPB to establish America’s first commercial quantum hub dedicated to energy infrastructure. These moves reflect IonQ’s strategy of blending enterprise partnerships with policy influence, creating near-term revenue visibility while embedding its trapped-ion technology into diverse industries worldwide.

Who Is Better Positioned for Quantum Advantage?

Rigetti’s roadmap builds on its chiplet-based architecture, with the recently launched 36-qubit Cepheus-1 system paving the way for a 100+ qubit machine by year-end and eventually a 1,000-qubit system within four years. Its partnership with Quanta Computer, backed by a $250 million commitment, is designed to scale production and integrate systems into hybrid cloud environments. Combined with in-house fabrication and proprietary system calibration, Rigetti is positioning its superconducting platform for long-term scalability.

IonQ, meanwhile, is executing on an accelerated trapped-ion roadmap, starting with Tempo developer systems in 2025 and advancing toward multi-million-qubit fault-tolerant machines by 2030. Strategic acquisitions such as Oxford Ionics and Lightsynq are central to this scaling plan, while commercial traction is reinforced by global partnerships and the $22 million EPB deal to establish America’s first commercial quantum hub. By pairing technology scaling with enterprise adoption, IonQ is aiming to turn roadmap milestones into tangible near-term and long-term opportunities.

How Do Zacks Estimates Compare for RGTI & IONQ?

The Zacks Consensus Estimate for RGTI’s 2025 sales implies a year-over-year decline of 19.65%. For 2025, the loss per share is projected to be 5 cents compared with 36 cents a year ago. The earnings estimates have been stable over the past 60 days.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for IONQ’s 2025 sales implies year-over-year growth of 119.02%. For 2025, the loss per share is projected to be 66 cents compared with $1.56 a year ago.

Image Source: Zacks Investment Research

RGTI or IONQ: Which Is a Better Pick?

Rigetti and IonQ showcase two divergent strategies in quantum computing. Rigetti is pursuing scalable superconducting systems built on a modular chiplet design, while IonQ is driving trapped-ion machines forward with an aggressive roadmap and global commercial expansion. Both companies currently carry a Zacks Value Score of ‘F,’ signaling that investors are still paying a premium for exposure to this emerging sector.

Where they diverge is on growth prospects and rankings. Rigetti holds a Growth Score of ‘C’ versus IonQ’s weaker ‘F,’ reflecting stronger technical progress and a more balanced near-term outlook. Importantly, Rigetti carries a Zacks Rank #2 (Buy), while IonQ is rated a Zacks Rank #3 (Hold)—suggesting more upside potential in Rigetti’s execution at this stage. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

While IonQ’s commercial traction and international partnerships highlight its momentum in enterprise adoption, Rigetti’s modular roadmap, strengthened balance sheet, and improving growth profile position it as the slightly more compelling bet for investors seeking long-term exposure to the quantum computing race.