Benchmark: Feasibility of Quantum Technology Implementation Continues to Improve; Bullish on Rigetti (RGTI.US), IonQ (IONQ.US), and D-Wave (QBTS.US)
Benchmark has resumed coverage of quantum computing stocks, assigning a "Buy" rating to Rigetti Computing (RGTI.US), IonQ (IONQ.US), and D-Wave Quantum (QBTS.US), with target prices of $25, $60, and $30, respectively.
According to Zhihui Finance APP, Benchmark has resumed coverage of quantum computing stocks, assigning a “Buy” rating to Rigetti Computing (RGTI.US), IonQ (IONQ.US), and D-Wave Quantum (QBTS.US), with target prices of $25, $60, and $30, respectively.
“To be clear, we are bullish on the quantum computing field,” Benchmark analyst Gary Mobley stated in the report. “We observe that, driven by recent industry momentum, the feasibility of quantum technologies continues to solidify (for example, the fault-tolerant techniques required to achieve general quantum advantage (QA), which can address practical business challenges across various real-world scenarios). The quantum computing industry is by no means a 'winner takes all' market. Since quantum computing is still in its early stages and general quantum advantage has not yet been widely realized, the optimal strategy for investors in this track is a portfolio approach—diversifying across related assets. This forms the basis of our ratings logic for the companies under our coverage.”
Mobley added: “In our view, 2025 and 2026 will be key years for quantum computing technology to gain broad recognition. The industry is witnessing record capital inflows from sources including venture capital, public equity markets, and even national sovereign investments, with the U.S. government alone investing $2 billion in the sector. Additionally, the United Nations has designated 2025 as the International Year of Quantum Science and Technology, and the Nobel Prize in Physics for 2025 will be awarded for quantum physics experiments. These events foster international collaboration, encouraging policymakers and institutions to prioritize quantum technology in their research and innovation agendas, thereby elevating the industry’s profile. The quantum computing industry is transitioning from pure physical experiments to early-stage enterprise-scale production. However, a universal quantum computer with transformative abilities, fault-tolerance, and the capability to solve diverse complex challenges is still years away.”
In April this year, Nvidia released the world’s first open-source quantum AI model, Ising. According to Nvidia, this model achieves world-leading quantum processor calibration capabilities. In the decoding process required for quantum error correction, it delivers up to a 2.5x speed increase and 3x accuracy improvement, enabling researchers to tackle larger and more complex problems.
Nvidia’s founder and CEO Jensen Huang stated at the time: “AI is essential for realizing practical quantum computing. With Ising, AI becomes the central control—equivalent to an operating system for quantum machines, transforming fragile qubits into scalable and reliable quantum-GPU systems.”
According to forecasts by research firm Resonance, the market size for quantum computing is expected to exceed $1.1 billion by 2030. This growth will heavily depend on ongoing breakthroughs in key engineering challenges like quantum error correction and scalability.
As of Monday's U.S. market close, Rigetti Computing was up nearly 11% but remains down 29% year-to-date; IonQ gained over 9%, but remains down 20% this year; D-Wave Quantum rose over 20%, but is still down 20% in 2024.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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