Five companies now anchor the public market in quantum computing: IonQ (NYSE: IONQ), Quantinuum (Nasdaq: QNT), Rigetti Computing (NASDAQ: RGTI), D-Wave Quantum (NYSE: QBTS), and Infleqtion (NYSE: INFQ). Each is built on a different qubit technology, and each takes a different approach to its business beyond that core technology, which means the older habit of calling this group “pure-play quantum computing companies” no longer describes all of them precisely.
The Quantum Computing Technology, by Public Company
- Infleqtion (NYSE: INFQ): neutral-atom qubits, using laser-trapped atoms in reconfigurable arrays.
- IonQ (NYSE: IONQ): trapped-ion qubits, using ions held in electromagnetic fields.
- Quantinuum (Nasdaq: QNT): trapped-ion qubits, using a quantum charge-coupled device (QCCD) architecture that physically shuttles ions between separate zones for storage, gate operations, and cooling.
- D-Wave Quantum (NYSE: QBTS): quantum annealing, alongside gate-model development.
- Rigetti Computing (NASDAQ: RGTI): superconducting qubits, with an in-house fabrication facility.
Why “Pure-Play” No Longer Fits IonQ, or Infleqtion, for a Different Reason
The term described a company whose business and valuation were tied to a single quantum bet. That stopped describing IonQ in 2026, once it acquired a general-purpose U.S. semiconductor foundry and other non-quantum businesses, repositioning itself as a “full-stack quantum platform company” rather than a pure-play.
Infleqtion doesn’t fit the traditional mold either, but for a different reason than IonQ. Its business has spanned two product lines within quantum technology: computing (Sqale) and sensing. Unlike IonQ’s recent acquisitions, which moved outside quantum entirely, Infleqtion’s second line was built organically from within quantum from day one, and it already generates commercial revenue.
Infleqtion has a shorter public trading history and smaller current market capitalization than IonQ, and, like every company in this group, has not yet reached profitability or demonstrated fault-tolerant quantum computing.
Quantinuum, D-Wave, and Rigetti Still Fit the Traditional Definition Reasonably Well
Quantinuum’s software and security products are built on top of its own trapped-ion computing platform. D-Wave added gate-model computing to its existing annealing technology in 2026, a second approach within quantum computing, not a move outside it. Rigetti has stayed narrow, building out a single hardware approach rather than acquiring outside businesses.
FAQ
Not in the traditional single-technology sense. Its business spans two product lines, computing and sensing, rather than a single bet.
Both. Infleqtion builds Sqale, a full-stack neutral-atom quantum computer with a public roadmap targeting 1,000 logical qubits by 2030, placing it alongside IonQ, Quantinuum, Rigetti, and D-Wave as one of a handful of public companies building quantum computing hardware. It also builds a commercial line of quantum sensors, including the Tiqker optical atomic clock, a second business most of its computing-focused peers don’t have.