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RGTI holds $446.9M cash with no debt; IonQ boasts $1.5B cash plus a $2B capital raise.
Quantum computing is no longer a sci-fi concept; it’s fast becoming one of the most closely watched frontiers in tech investing. Per a report by Grand View Research, the global quantum computing market was valued at $1.42 billion in 2024 and is projected to reach $4.24 billion by 2030, expanding at a robust 20.5% CAGR from 2025 to 2030. While the market is still early-stage, the growth trajectory signals rising enterprise adoption, increasing government funding and intensifying competition among pure-play innovators. For investors willing to stomach volatility, quantum computing represents a high-risk, high-reward theme that could reshape industries ranging from cybersecurity to drug discovery, making it a space worth keeping firmly on the radar.
Within this rapidly developing quantum landscape, Rigetti Computing (RGTI - Free Report) and IonQ (IONQ - Free Report) showcase two distinct yet equally ambitious paths toward commercialization. Rigetti is advancing a superconducting, gate-based architecture built on in-house chip fabrication and modular system scaling, aiming to steadily improve qubit performance and system fidelity on the road to fault-tolerant quantum computing. IonQ, by contrast, is betting on trapped-ion technology, which is widely regarded for its high-fidelity qubits and longer coherence times, and is positioning itself as a hardware-agnostic, cloud-accessible quantum provider through major partnerships.
Price Performance of RGTI & IONQ
Shares of Rigetti have gained 14.6%, while IONQ stock has lost 18.9% in the last six-month period.
Image Source: Zacks Investment Research
The Case for RGTI
Rigetti’s roadmap and partnerships highlight its intent to be a serious contender in scalable, superconducting quantum computing. The company has laid out a multi-phase plan to progress from smaller systems toward 100+-qubit machines with high-fidelity gate performance and ultimately to much larger, fault-tolerant systems over the next few years. This strategy is reinforced by key partnerships, including its collaboration with India’s Centre for Development of Advanced Computing (C-DAC) to advance hybrid quantum-classical systems for national research use cases. Additionally, Rigetti’s strategic alliance with Quanta Computer, which includes a commitment of over $100 million from each party over five years and an equity investment from Quanta, strengthens its manufacturing scale-up plans and commercialization push.
On the commercial execution side, Rigetti is beginning to move beyond pure R&D and into real orders that signal market traction. In September 2025, the company disclosed purchase orders totaling approximately $5.7 million for two of its 9-qubit Novera systems, with deliveries expected in the first half of 2026, wins that span an Asian technology manufacturer and a U.S. applied physics startup. More recently, Rigetti secured an $8.4 million purchase order to deliver a 108-qubit quantum computer to C-DAC’s Bengaluru centre, marking a meaningful step into higher-qubit delivery and a national research institution as a client. These orders show growing customer interest in on-premises systems and research-level deployment, and reflect a diversified base that includes both commercial R&D teams and government laboratories.
In the third quarter, Rigetti generated $1.9 million in revenue, supported by government-funded projects, cloud-accessible quantum computing services, collaborative research programs and component-related sales. The company closed the third quarter with $446.9 million in cash, cash equivalents and short-term investments, providing a meaningful liquidity cushion. Notably, Rigetti carried no debt at quarter end, highlighting a clean balance sheet and strong solvency profile. This financial position was further bolstered by a $350 million equity raise in 2025, which strengthened its capital base and reflected continued investor backing for its long-term growth strategy.
The Case for IONQ
IonQ’s long-term strategy is built around trapped-ion technology, which is known for high-fidelity qubits and long coherence times, two critical ingredients for scaling meaningful quantum advantage. The company continues to push forward on its technical roadmap, recently achieving major milestones ahead of schedule, including the launch of its AQ 64 Tempo system and delivering a world-record 99.99% two-qubit gate fidelity. These advances reinforce IonQ’s credibility in gate-based quantum computing and signal tangible progress toward fault-tolerant, scalable systems. At the same time, IonQ has strengthened its ecosystem presence through cloud integrations and strategic collaborations, positioning itself as both a hardware innovator and a platform builder in the broader quantum stack.
Commercially and financially, IonQ entered 2026 with significant momentum. In the third quarter of 2025, the company reported a striking 222% year-over-year revenue increase, exceeding the high end of its guidance by 37%, a sign that enterprise and government adoption is accelerating across quantum computing and adjacent applications.
IonQ also expanded its technological reach through strategic acquisitions, including Oxford Ionics and Vector Atomic, enhancing capabilities across quantum computing, networking, sensing and cybersecurity while broadening its total addressable market.
From a balance sheet perspective, IonQ finished the third quarter with approximately $1.5 billion in cash and investments and subsequently completed a $2 billion capital raise, giving it one of the strongest capital positions in the sector. For investors, this combination of rapid revenue growth, technical execution and substantial liquidity provides IonQ with both the runway and strategic flexibility to scale aggressively into 2026 and beyond.
How Do Estimates Compare for RGTI & IONQ?
The Zacks Consensus Estimate for RGTI’s 2026 sales implies year-over-year growth of 234.7%. For 2026, the loss per share is projected to be 18 cents compared with 68 cents a year ago.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for IONQ 2026 sales implies year-over-year growth of 83.3%. For 2026, the loss per share is projected to be $1.52 compared with $5.15 a year ago.
Image Source: Zacks Investment Research
RGTI or IONQ: Which Is a Better Pick?
From a rankings perspective, RGTI and IONQ are currently on similar footing. Both stocks carry a Zacks Rank #3 (Hold) and a Value Score of F, reinforcing a key theme in the quantum space: valuations are driven far more by long-term potential than present-day fundamentals. Neither name qualifies as a traditional value play, and expectations remain elevated as investors price in technological breakthroughs and future commercial scale rather than near-term profitability. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The contrast becomes sharper when looking at growth and momentum metrics. IonQ holds a Growth Score of F and a Momentum Score of A, suggesting that while long-term earnings visibility may still be uncertain, investor enthusiasm has been strong in the near term, likely fueled by rapid revenue growth, technical milestones and its sizable capital base. Rigetti, on the other hand, carries a Growth Score of C and a Momentum Score of F. This points to relatively steadier long-term expectations tied to its hardware roadmap, but weaker recent trading sentiment and limited short-term excitement in the stock.
For investors, the decision ultimately hinges on style and time horizon. IonQ may appeal more to momentum-oriented participants comfortable riding strong price action despite growth uncertainties. Rigetti, by contrast, could attract patient investors who are willing to look past current market sentiment and focus on incremental execution along its superconducting roadmap. In a sector defined by volatility and long development cycles, both remain speculative, but the risk-reward profile differs depending on whether you prioritize momentum or measured technological progression.
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Rigetti vs. IonQ: Which Quantum Computing Stock Has More Upside?
Key Takeaways
Quantum computing is no longer a sci-fi concept; it’s fast becoming one of the most closely watched frontiers in tech investing. Per a report by Grand View Research, the global quantum computing market was valued at $1.42 billion in 2024 and is projected to reach $4.24 billion by 2030, expanding at a robust 20.5% CAGR from 2025 to 2030. While the market is still early-stage, the growth trajectory signals rising enterprise adoption, increasing government funding and intensifying competition among pure-play innovators. For investors willing to stomach volatility, quantum computing represents a high-risk, high-reward theme that could reshape industries ranging from cybersecurity to drug discovery, making it a space worth keeping firmly on the radar.
Within this rapidly developing quantum landscape, Rigetti Computing (RGTI - Free Report) and IonQ (IONQ - Free Report) showcase two distinct yet equally ambitious paths toward commercialization. Rigetti is advancing a superconducting, gate-based architecture built on in-house chip fabrication and modular system scaling, aiming to steadily improve qubit performance and system fidelity on the road to fault-tolerant quantum computing. IonQ, by contrast, is betting on trapped-ion technology, which is widely regarded for its high-fidelity qubits and longer coherence times, and is positioning itself as a hardware-agnostic, cloud-accessible quantum provider through major partnerships.
Price Performance of RGTI & IONQ
Shares of Rigetti have gained 14.6%, while IONQ stock has lost 18.9% in the last six-month period.
Image Source: Zacks Investment Research
The Case for RGTI
Rigetti’s roadmap and partnerships highlight its intent to be a serious contender in scalable, superconducting quantum computing. The company has laid out a multi-phase plan to progress from smaller systems toward 100+-qubit machines with high-fidelity gate performance and ultimately to much larger, fault-tolerant systems over the next few years. This strategy is reinforced by key partnerships, including its collaboration with India’s Centre for Development of Advanced Computing (C-DAC) to advance hybrid quantum-classical systems for national research use cases. Additionally, Rigetti’s strategic alliance with Quanta Computer, which includes a commitment of over $100 million from each party over five years and an equity investment from Quanta, strengthens its manufacturing scale-up plans and commercialization push.
On the commercial execution side, Rigetti is beginning to move beyond pure R&D and into real orders that signal market traction. In September 2025, the company disclosed purchase orders totaling approximately $5.7 million for two of its 9-qubit Novera systems, with deliveries expected in the first half of 2026, wins that span an Asian technology manufacturer and a U.S. applied physics startup. More recently, Rigetti secured an $8.4 million purchase order to deliver a 108-qubit quantum computer to C-DAC’s Bengaluru centre, marking a meaningful step into higher-qubit delivery and a national research institution as a client. These orders show growing customer interest in on-premises systems and research-level deployment, and reflect a diversified base that includes both commercial R&D teams and government laboratories.
In the third quarter, Rigetti generated $1.9 million in revenue, supported by government-funded projects, cloud-accessible quantum computing services, collaborative research programs and component-related sales. The company closed the third quarter with $446.9 million in cash, cash equivalents and short-term investments, providing a meaningful liquidity cushion. Notably, Rigetti carried no debt at quarter end, highlighting a clean balance sheet and strong solvency profile. This financial position was further bolstered by a $350 million equity raise in 2025, which strengthened its capital base and reflected continued investor backing for its long-term growth strategy.
The Case for IONQ
IonQ’s long-term strategy is built around trapped-ion technology, which is known for high-fidelity qubits and long coherence times, two critical ingredients for scaling meaningful quantum advantage. The company continues to push forward on its technical roadmap, recently achieving major milestones ahead of schedule, including the launch of its AQ 64 Tempo system and delivering a world-record 99.99% two-qubit gate fidelity. These advances reinforce IonQ’s credibility in gate-based quantum computing and signal tangible progress toward fault-tolerant, scalable systems. At the same time, IonQ has strengthened its ecosystem presence through cloud integrations and strategic collaborations, positioning itself as both a hardware innovator and a platform builder in the broader quantum stack.
Commercially and financially, IonQ entered 2026 with significant momentum. In the third quarter of 2025, the company reported a striking 222% year-over-year revenue increase, exceeding the high end of its guidance by 37%, a sign that enterprise and government adoption is accelerating across quantum computing and adjacent applications.
IonQ also expanded its technological reach through strategic acquisitions, including Oxford Ionics and Vector Atomic, enhancing capabilities across quantum computing, networking, sensing and cybersecurity while broadening its total addressable market.
From a balance sheet perspective, IonQ finished the third quarter with approximately $1.5 billion in cash and investments and subsequently completed a $2 billion capital raise, giving it one of the strongest capital positions in the sector. For investors, this combination of rapid revenue growth, technical execution and substantial liquidity provides IonQ with both the runway and strategic flexibility to scale aggressively into 2026 and beyond.
How Do Estimates Compare for RGTI & IONQ?
The Zacks Consensus Estimate for RGTI’s 2026 sales implies year-over-year growth of 234.7%. For 2026, the loss per share is projected to be 18 cents compared with 68 cents a year ago.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for IONQ 2026 sales implies year-over-year growth of 83.3%. For 2026, the loss per share is projected to be $1.52 compared with $5.15 a year ago.
Image Source: Zacks Investment Research
RGTI or IONQ: Which Is a Better Pick?
From a rankings perspective, RGTI and IONQ are currently on similar footing. Both stocks carry a Zacks Rank #3 (Hold) and a Value Score of F, reinforcing a key theme in the quantum space: valuations are driven far more by long-term potential than present-day fundamentals. Neither name qualifies as a traditional value play, and expectations remain elevated as investors price in technological breakthroughs and future commercial scale rather than near-term profitability. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The contrast becomes sharper when looking at growth and momentum metrics. IonQ holds a Growth Score of F and a Momentum Score of A, suggesting that while long-term earnings visibility may still be uncertain, investor enthusiasm has been strong in the near term, likely fueled by rapid revenue growth, technical milestones and its sizable capital base. Rigetti, on the other hand, carries a Growth Score of C and a Momentum Score of F. This points to relatively steadier long-term expectations tied to its hardware roadmap, but weaker recent trading sentiment and limited short-term excitement in the stock.
For investors, the decision ultimately hinges on style and time horizon. IonQ may appeal more to momentum-oriented participants comfortable riding strong price action despite growth uncertainties. Rigetti, by contrast, could attract patient investors who are willing to look past current market sentiment and focus on incremental execution along its superconducting roadmap. In a sector defined by volatility and long development cycles, both remain speculative, but the risk-reward profile differs depending on whether you prioritize momentum or measured technological progression.