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In this article, we will take a look at the 15 biggest quantum computing companies in the world. If you want to see more companies in this selection, go to the 5 Biggest Quantum Computing Companies in the World.

The quantum computing industry is a rapidly evolving and expanding field with significant potential for growth and development in the coming years. According to Precedence Research, the size of the quantum computing industry is expected to grow by over 12 times from $10.13 billion in 2022 to $125 billion by the end of this decade. This would reflect a compound annual growth rate of 36.9% from 2022 to 2030. There has been a noteworthy increase in investment in the quantum computing industry in recent years, with governments, corporations, and venture capital firms all pouring funds into the development of quantum computing hardware, software, and applications.

As the demand for large-scale data analysis and simulation in the industry increases, quantum computing hardware and software development have become crucial. Notable startups in this sector, including Xanadu, ColdQuanta, and QC Ware, along with well-established corporations such as Alphabet Inc. (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT), Amazon.com, Inc. (NASDAQ:AMZN), International Business Machines Corporation (NYSE:IBM), D-Wave Systems (NYSE:QBTS), and IonQ, Inc. (NYSE:IONQ) are playing an important role in advancing quantum computing hardware and software. These companies have made significant strides in improving the stability, coherence, and number of qubits, which is a crucial step toward achieving large-scale quantum computing capabilities.

McKinsey has labelled quantum computing as one of the next big trends in the field of technology. Quantum computing, which is just one facet of the broader domain of quantum technology, holds significant promise and is projected to contribute approximately $1.3 trillion in value by the year 2035. In the coming years, the key players in the quantum computing industry are expected to progressively enhance the qubit capacity of their computers. However, this progress is anticipated to be gradual. According to McKinsey's estimation, by 2030, the number of operational quantum computers is expected to reach approximately 5,000 only. Furthermore, the development of hardware and software capable of handling the most intricate problems may not materialize until 2035 or even later. This projected timeline underscores the challenges involved in advancing quantum computing technology to its full potential.

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Currently, prominent Wall Street banks are at the forefront of exploring the potential of quantum technology. A researcher from Goldman Sachs stated in January 2020 that quantum computing has the capacity to become a crucial technology. In addition to Goldman Sachs, other major players in the financial industry, such as JPMorgan and Citigroup, have also established their own quantum computing initiatives and have made investments in quantum computing startups. In 2020, JPMorgan conducted experiments using Honeywell International Inc.'s (NASDAQ:HON) quantum computer with the goal of streamlining mathematical operations that involve Fibonacci numbers. These initiatives show how financial organizations are becoming increasingly interested in using quantum computing to solve complex computational problems.

15 Biggest Quantum Computing Companies in the World

Photo by Anton Maksimov juvnsky on Unsplash

Our Methodology

We conducted extensive research and consulted various industry reports, reputed publications, and news articles to shortlist the 15 biggest quantum computing companies in the world. Some of the companies on the list are technology giants and conglomerates investing heavily in quantum technology, while others are pure-play companies specifically focused on quantum computing. The top quantum computing companies were identified by selecting the companies with the highest market capitalizations, indicating their significant presence and market influence in the quantum computing industry. Furthermore, we also looked into factors such as the company's research and development efforts, technological advancements, patents filed, partnerships and collaborations, and financial investments. We have ranked these companies in ascending order of their market capitalization as of May 1.

Market Capitalization: $57.7 million

2022 Total Revenue: $13.1 million

Rigetti Computing, Inc. (NASDAQ:RGTI) is a Berkeley, California-based quantum computing company founded in 2013. The company specializes in superconducting qubit technology. The company has developed the Forest software development kit and the PyQuil programming language to simulate quantum computations. Rigetti Computing, Inc. (NASDAQ:RGTI) has also developed a suite of software tools and algorithms for programming and simulating quantum computations, including the Forest software development kit and the PyQuil programming language. These tools enable researchers and developers to program and simulate quantum algorithms using existing classical computing infrastructure.

Market Capitalization: $62.7 million

2022 Total Revenue: $7.17 million

D-Wave Quantum Inc. (NYSE:QBTS) is a Burnaby, Canada-based leading provider of quantum computing systems and software with a focus on quantum annealing technology. The company is widely regarded as a pioneer in the development of quantum computing technology. The companys flagship product, the D-Wave Quantum Computer, harnesses the power of quantum annealing to address complex optimization problems prevalent in various industries such as logistics, finance, and machine learning.

Market Capitalization: $101.01 million

2022 Total Revenue: $402.61 million

Quantum Corporation (NASDAQ:QMCO) is a San Jose, California-based company founded in 1980 that specializes in data storage and management solutions, including quantum computing. The company has developed a quantum computing software platform called Quantum ATFS that combines traditional data storage and management with quantum computing capabilities. This platform enables customers to process large amounts of data quickly and efficiently using quantum computing algorithms.

Market Capitalization: $1.12 billion

2022 Total Revenue: $11.13 million

IonQ, Inc. (NYSE:IONQ) is a College Park, Maryland-based quantum computing company founded in 2015. The company was founded by a team of experts in quantum computing and is one of the pure plays on our list of the biggest quantum computing companies in the world. IonQ, Inc. (NYSE:IONQ) is considered a leading provider of trapped-ion quantum computing technology, which has the potential to be more scalable than other quantum computing technologies. IonQ, Inc.s (NYSE:IONQ) quantum computing technology is based on a unique approach that uses trapped ions as qubits, which are manipulated using laser beams. Trapped ion qubits are highly stable and have long coherence times. Click here to read IonQ, Inc.'s (NYSE:IONQ) earnings call transcript for Q4 2022.

Market Capitalization: $1.53 billion (1.39 billion)

2022 Total Revenue: $12.52 billion (11.34 billion)

Atos SE (ATO.PA) is a Bezons, France-based information technology (IT) service and consulting company with a specialization in big data and cybersecurity services. The company has been active in the field of quantum computing for the last several years. The entity has developed a quantum computing hardware platform called Atos Quantum, which includes a range of quantum simulators and a quantum annealer. Atos Quantum also provides a software platform for quantum programming called Atos Quantum Learning Machine (QLM). The QLM can simulate up to 40 qubits and provides a range of programming languages for quantum computing, including Python, C++, and Java.

Market Capitalization: $14 billion (1.90 trillion)

2022 Total Revenue: $24.6 billion (3.35 trillion)

Toshiba Corporation (6502.T) is a Tokyo, Japan-based diversified technology company. The company has made notable advancements in quantum key distribution (QKD), a technique crucial for securely distributing secret digital keys to safeguard highly sensitive information across various industries. Toshiba Corporation (6502.T) has also partnered with several research institutions and companies to develop quantum computing hardware and software. Collaborations with institutions like the University of Tokyo and the National Institute of Informatics have focused on projects such as quantum annealing systems and quantum cryptography systems, demonstrating Toshiba's commitment to advancing quantum technologies.

Market Capitalization: $41.41 billion

2022 Total Revenue: $17.87 billion (123.68 billion)

Baidu, Inc. (NASDAQ:BIDU) is a Beijing, China-based tech corporation that has been investing in the field of quantum computing in recent years. The company's dedicated research team has been actively involved in the development of both quantum computing hardware and software. In August 2022, Baidu, Inc. (NASDAQ:BIDU) introduced its first superconducting quantum computer, demonstrating its progress in integrating hardware, software, and applications. Additionally, Baidu, Inc. (NASDAQ:BIDU) has pioneered the development of a comprehensive quantum hardware-software integration solution, enabling access to a wide range of quantum chips through various platforms such as cloud services, mobile applications, and personal computers.

Here's what Horos Asset Management said about Baidu, Inc. (NASDAQ:BIDU) in its Q4 2022 investor letter:

As I mentioned at the beginning of this quarterly letter, we took advantage of the meltdown in technology platforms to initiate new positions in companies in which we had already been shareholders in the past and whose valuation did not, until now, provide a sufficiently high margin of safety. Such is the case of PayPal and Baidu, Inc.(NASDAQ:BIDU).

In the case of Baidu, as many will know, it is known as the Chinese Google. The company has been the leading Internet search engine in the Asian country for years, which has given it a historically privileged position to monetize, through online advertising, a huge user base. However, the rise of two types of applications has called into question the sustainability of its business model. On the one hand, mobile social apps, such as ByteDances well-known TikTok, have emerged as a new model of online consumption, generating a new platform through which to monetize Internet users. On the other hand, even more disruptive in the long term, is the emergence of the so-called super apps: a sort of virtual Swiss Army knives that allow users to access many products and services without having to leave their interface at any time, making Baidus traditional search engine less attractive. In this field, Tencent (with its super app Weixin/WeChat), Alibaba (Alipay) and Meituan certainly stand out. These two factors have caused Baidus online advertising market share to drop from 17% in 2017 to less than 7% estimated for 2022.34 To this deterioration, we should add the collapse in market value of its stake in iQiyi (video platform controlled by Baidu) and its equity holdings such as Trip.com (hotel and flight platform) (Click here to read the full text)

Market Capitalization: $115.29 billion

2022 Total Revenue: $60.53 billion

International Business Machines Corporation (NYSE:IBM) is an Armonk, New York-based technology company. The entity is considered a trendsetter in the field of quantum computing, having developed some of the earliest quantum computers and quantum algorithms. The company has also established the IBM Quantum Network, which connects researchers and developers working on quantum computing. International Business Machines Corporation's (NYSE:IBM) quantum computing technology is based on superconducting qubits, which are integrated into a quantum processor that is designed to be scalable and reliable.

Diamond Hill Capital shared its outlook on International Business Machines Corporation (NYSE:IBM) in its Q4 2022 investor letter:

New positions initiated in Q4 included shortsInternational Business Machines Corporation (NYSE:IBM), Acushnet Holdings (GOLF) and elf Beauty (ELF). Since diversified information technology company IBMs 2019 acquisition of Red Hat, the company has aggressively pursued a hybrid cloud strategy. Though IBM and its new management team have made solid progress on this pivot, we believe the company still meaningfully lags the cloud hyperscalers and other cloud-native companies. Management has also laid out aggressive long-term targets for revenue growth and free cash flow, both of which we believe the company will struggle to achieve as it faces intense competition in its hybrid cloud business and structural headwinds in the companys legacy businesses.

Market Capitalization: $124.55 billion

2022 Total Revenue: $63.05 billion

Intel Corporation (NASDAQ:INTC) is a Santa Clara, California-based technology company that has been heavily investing in quantum computing research and development (R&D). The company has made significant headway in developing its quantum computing hardware, software, and algorithms. Intel Corporations (NASDAQ:INTC) quantum computing technology is based on a different approach than many other companies in the industry, using spin qubits instead of superconducting qubits. Spin qubits are implemented using silicon, which is a mature and well-understood technology that Intel has extensive experience with. Intel Corporations (NASDAQ:INTC) approach is designed to enable easier manufacturing and scalability of quantum computing systems.

Here's what ClearBridge Investments said about Intel Corporation (NASDAQ:INTC) in its Q3 2022 investor letter:

Also on the detractor side,Intel Corporation(NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.

Market Capitalization: $132.22 billion

2022 Total Revenue: $35.47 billion

Honeywell International Inc. (NASDAQ:HON) is a Charlotte, North Carolina-based company that is a new entrant in the quantum computing industry, focusing on developing quantum computers for industrial and commercial use. Honeywell International Inc.s (NASDAQ:HON) quantum computing system is based on trapped ion technology, which uses ions trapped in a magnetic field to perform quantum computations. The company's quantum computing system consists of a quantum processor made up of ion qubits and a control system used to manipulate and read out the qubits.

In addition to Honeywell International Inc. (NASDAQ:HON), companies such as Alphabet Inc. (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT), and Amazon.com, Inc. (NASDAQ:AMZN) are also some of the biggest quantum computing companies in the world.

Click to continue reading and see the 5 Biggest Quantum Computing Companies in the World.

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The hybrid quantum computing system integrates high-performance computing (HPC) infrastructure with native quantum computing technology an exciting and challenging innovation for the industry.

The research team consisting of QMware GmbH, Saint Gallen, Switzerland, and QuiX Quantum NV, Enschede, Netherlands expects it will be fully operational for commercial applications in August this year.

Hybrid quantum computing is an industry game changer.

A hybrid quantum computing system is one that combines elements of quantum computing, especially the use of quantum bits or qubits for processing, and classic computers as we know them.

Working together, quantum and classical can perform functions that are difficult or impossible for a classical computer, even supercomputers, to do alone. They also allow users to read out the results of quantum computation via their classical systems.

By combining classical high-performance computing with quantum computing, businesses can tackle todays toughest challenges in optimisation, simulation, and Machine Learning.

It has the potential to solve complex optimisation problems in a fraction of the usual time for challenges like route planning in logistics or collateral portfolio and risk optimisation in financial services.

Moreover, hybrid computing can also help simulate physical systems with extreme accuracy, which can have implications for drug discovery or materials science.

In the field of Machine Learning, it can improve classification, clustering, and regression tasks.

QMware offers a unique hybrid approach to quantum hybrid computing through its software framework.

This will be used to integrate different hardware types with shared memory access and will be operated under a unified Linux operating system. The companies say this will be the first of a new kind of data centre, which aims to increase processing power by ten-fold.

QuiX Quantum uses photonic qubits that operate at room temperature. This interesting process provides a scalable technology for optimisation applications, such as route planning and payload optimisation in logistics or aerospace, or collateral portfolio and risk control in finance.

QMware will use a broadband, low-latency optical fibre connection. This connection directly attaches high-performance computing infrastructure with simulated and native quantum hardware.

We believe that the photonics quantum processing units by QuiX Quantum, integrated into QMwares hybrid quantum high-performance computers, are one of the most promising technologies to provide a commercially sustainable hybrid computing advantage, said George Gesek, CTO and co-founder of QMware.

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New hybrid quantum computing system set to be fully operational ... - Innovation News Network

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Quantum computer. Credit: IBM

You may be one of those waiting for the quantum computer, the arrival of which we have been told is imminent for several years. Already at this point, DTU Associate Professor Sven Karlsson begins to look a little strained, because among his partners are the two European companies AQT and IQM which produce and sell quantum computers.

"It's a common misconception that the quantum computer doesn't exist yet. It does already exist, so it's not something we need to wait for. However, the current quantum computers aren't yet all that large, which obviously limits how complicated the calculations can be, but they exist and are being used," says Sven Karlsson.

One example is IBM's quantum computers, which anyone can access via the internet. In addition, there are quantum computers in scientific laboratories, in supercomputer centers, at universities, and so onworldwide. These are also among the customers to which AQT and IQM sell their products.

It has not yet been possible to build quantum computers with many quantum bits. Quantum bits are used to process the information in the computer, and a low number of quantum bits therefore limits the complexity of the calculations the quantum computer can perform. Sven Karlsson therefore characterizes the current use as primarily experimental, making it possible to play with and understand the technology.

"The technical level of the current quantum computers is somewhat similar to the first stage of our current computers. When they first appeared in the 1950s, there were only a limited number of them, and, back then, they couldn't make larger calculations than those any calculator can perform today."

However, there are examples of calculations performed using a quantum computer. One of the calculations known to Sven Karlsson was done during the coronavirus pandemic. The Italian football league needed to know how best to schedule the matches so that the different football teams came into contact with each other as little as possible to reduce the risk of infection. Likewise, travel distances for the players had to be limited, as travel by air was banned.

"A quantum computer is well suited for calculations of this type that will take too long for an ordinary supercomputer. The quantum computer can examine many solutions simultaneously and is therefore more efficient at such calculations than a supercomputer," says Sven Karlsson.

Sven Karlsson and his colleagues' collaboration with AQT and IQM includes developing the hardware and software needed to connect the quantum computer to supercomputers.

"The future quantum computers will initially largely be connected to the relatively few high-performance computing centers with supercomputers that exist worldwide. The centers have already built an infrastructure with the right competences to operate the quantum computers, and it also makes sense to invest in relation to the existing centers. Today, a quantum computer costs around DKK 150 million, so it's a relatively large investment," says Sven Karlsson.

The quantum computer will not replace supercomputers. Instead, it will supplement them and be used for highly specific calculations. Nor will the quantum computer have its own user interface, but must be accessed via the supercomputers.

As a result of the current budding production of quantum computers worldwide, large-scale standardization work is being initiated. It includes standards for all the hardware and software parts that make up a quantum computer. The hope is to prevent inexpediencies that we struggle with in other technological areas, such as only being able to use one charger type for our mobile phone.

"We would like to develop joint standards so that, throughout the world, we have the same understanding and use of the different components that make up a quantum computer. This must be done already at this early stage, so that we don't risk individual countries or parts of the world introducing different standards," says Sven Karlsson.

Sven Karlsson leads a group of researchers and practitioners with in-depth experience with and knowledge of quantum computers, who will meet in the coming years to create recognized standards that can be used in future production.

Read more:
The quantum computer already exists, but is not all that powerful - Tech Xplore

IonQ, an industry leader in quantum computing, announcedthe availability of IonQ Aria on Amazon Braket, AWSs quantum computingservice. This expands upon IonQs existing presence on Amazon Braket, followingthe debut of IonQ's Harmony system on the platform in 2020. With broader accessto IonQ Aria, IonQs flagship system with 25 algorithmic qubits (#AQ)more than65,000 times more powerful than IonQ Harmonyusers can now explore, design, andrun more complex quantum algorithms to tackle some of the most challengingproblems of today.

We are excited for IonQ Aria tobecome available on Amazon Braket, as we expand the ways users can access ourleading quantum computer on the most broadly adopted cloud service provider,said Peter Chapman, CEO and President, IonQ. Amazon Braket has beeninstrumental in commercializing quantum, and we look forward to seeing what newapproaches will come from the brightest, most curious, minds in the space.

IonQ Aria joins its predecessorIonQ Harmony as the second IonQ quantum system available on Amazon Braket. Theavailability of both systems is designed to ensure audiences with differentneeds and resources can run workloads across the quantum system best suited fortheir specific use cases. Additionally, IonQs error mitigation techniques canhelp manage the impact of coherent errors at the circuit level.

The addition of IonQ Aria toAmazon Braket provides our global customers with another choice when it comesto selecting a quantum system that best fits their specific needs, saidRichard Moulds, general manager, Amazon Braket. IonQ was a launch partner forBraket and I am excited to expand our relationship, not only by providingaccess to their latest generation hardware but also launching the ability toapply error mitigation, for the first time. These new capabilities coupled withBraket features such as Hybrid Jobs pave the way for customers acrossindustries like finance, healthcare, chemistry and manufacturing to researchnew quantum algorithms and explore near-term applications.

IonQ Aria offers some of thebest algorithmic performance in the industry. We are consistently amazed bywhat we can do using this cutting-edge system, especially when paired with theClassiq Platform. This makes Aria our platform of choice for many algorithmsand applications run by our users, said Amir Naveh, co-founder and CPO atClassiq, a leading quantum software company. Bringing it to Amazon Braketbenefits the entire ecosystem by allowing more quantum pioneers to accessIonQs industry-leading hardware while also taking advantage of theflexibility, reliability, and choice that Braket already provides.

Today,Airbus,GE Research,Dow Chemistry,Hyundai Motors, and theUnited States Air Force ResearchLaboratoryrepresent a handful ofglobal companies and agencies using IonQ Aria to explore novel solutions fortheir respective industries. Earlier this year, IonQ announced its intent to invest $1billion in the Pacific Northwest over the next decade, starting with theopening of a 65,000 square foot quantum computing manufacturing facility justoutside Seattle in Bothell, Washington. Additionally, IonQ is also an earlymember of theNorthwest Quantum Nexusalongside partners including AWS, theUniversity of Oregon, University of Washington, Pacific Northwest NationalLaboratory, and Washington State University.

Source IonQ media announcement

Read more:
News | AWS Users Have Access to IonQ Quantum Computing ... - Pipeline Magazine

Quantum computing is operating at a higher and more commercially viable level in 2023. More than 91% of global CEOs

Quantum computing is operating at a higher and more commercially viable level in 2023. More than 91% of global CEOs say theyre steering cash toward quantum computing, and 70% say theyre generating real-life use cases for the technology, according to the OpenOceanIQM-Lakestar State of Quantum 2022 report.

Corporate decision makers are starting to see what computer engineers have seen for years: Quantum computing can resolve issues in a few seconds that take the fastest supercomputers weeks to solve.

Our research confirms that we are on a one-way journey to enter the quantum era, says Ekaterina Almasque, general partner at OpenOcean, which coauthored the State of Quantum 2022 Report released in November.

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The findings are a clear sign that the broader market is starting to buy into the potential of quantum computing, recognizing its emerging commercial potential and backing it with significant investment, she says. The report showed that private investment in quantum computing grew 500% from 2017 to 2021 alone.

A recent report from Precedence Research pegged the global quantum computing market at more than $10 billion for 2022 and predicted that it would surpass $125 billion by 2030, expanding at a compound annual growth rate, or CAGR, of 37%.

So, which quantum computing stocks are doing the best job of harnessing themselves to the quantum computing revolution? These eight stocks are in acceleration mode:

Microsoft Corp. (MSFT)

Microsoft is at the leading edge of quantum computing innovation, with one of the industrys first full-stack, open-cloud quantum computing ecosystems, which enables data engineers to create quantum applications and run them on multiple systems.

In February, Microsoft rolled out its new Integrated Hybrid feature in Azure Quantum that enables quantum and classical (computing) to integrate seamlessly together in the cloud, a first for our industry and an important step forward on our path to quantum at scale, according to the companys website.

With quantum computing developments growing steadily, and its Azure cloud computing platform growing at a 27% clip in the last quarter, look for these efforts to start paying off in 2023.

The 34 Wall Street analysts who rated MSFT stock on TipRanks.com gave it a strong buy recommendation, on average, with a price target of $327.14 in mid-May. Thats 5.7% above its May 15 closing price of $309.46.

International Business Machines Corp. (IBM)

IBM is one of the few large quantum computing developers that owns its own computing chip and operating systems, both of which are tied to its Quantum System One quantum computer, introduced in 2019. IBM has made big strides commercially with its efforts, as 210 entities across a wide spectrum of industries, including Raytheon Technologies Corp. (RTX), Sony Group Corp. (SONY), Samsung Electronics Co. Ltd. and the U.S. government, are either currently using IBM quantum computing programs or are partnering with IBM to build more robust quantum computing systems.

IBM also routinely rates highly in business innovation rankings its rated third for technology innovation in Drucker Institutes latest Management Top 250 Report (Microsoft is first) providing investors with some reassurance that Big Blue knows what its doing on the quantum computing front.

IBM shares closed at $123.36 on May 15, and eight analysts on TipRanks give the stock an average price target of $147.38. Thats a 19.5% increase.

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Nvidia Corp. (NVDA)

Nvidia plays a huge role in the quantum computing market, as its one of the main providers of graphics processing units, or GPUs, used to power faster computing performance. Now Nvidia is getting into the hardware end of the quantum computing market with its DGX Quantum, the first computing system to merge GPUs and quantum computing. The quantum computing architecture is powered by Nvidias Grace Hopper Superchip, thus allowing researchers to build extraordinarily powerful applications that combine quantum computing with state-of-the-art classical computing, enabling calibration, control, quantum error correction and hybrid algorithms, the company stated.

NVDA stock could be a solid long-term play for quantum computing investors, given its outsized role in the global semiconductor market and its emerging role in quantum architecture even if that role may not pay off for several years. NVDA traded at $289.53 per share on May 15, and 38 analysts on TipRanks rate the stock a consensus strong buy with a 12-month price target of $288.24.

Alphabet Inc. (GOOG, GOOGL)

Alphabet, the parent to web search engine giant Google, has already established a big footprint in the quantum computing market. In 2018, the company introduced Bristlecone, its 72-qubit quantum processor, and has since spun off its own quantum computing and artificial intelligence private company.

In February, Alphabet engineers announced a breakthrough development in the quantum computing market, reporting that its quantum processor could reduce quantum computing errors (which are fairly common in the sector) by boosting the number of qubits used in computing processes.

No doubt, Alphabet is building a solid quantum computing platform that should place it in the top five technology companies in the quantum sector going forward. The stock should be another long-term pillar for sector investors, especially given its well-earned reputation as a highly profitable company.

GOOG had a closing price of $116.96 on May 15, and all six analysts who offer an average price target of $126.17 on TipRanks rate the stock a buy.

Honeywell International Inc. (HON)

Quantinuum, the quantum computing enterprise owned by Honeywell Quantum Solutions and Cambridge Quantum, recently tapped 30-year supercomputing veteran Raj Hazra as its new chief executive officer. That move underlines the industrys need for top leaders and visionaries who know how to push quantum computing from the realm of scientific theory to a mainstream commercial computing juggernaut.

The experienced Hazra leads a company thats planted deep roots in the quantum space, particularly in developing quantum computing products in the internet security, climate modeling and pharmaceutical drug sectors. Commenting on Quantinuum, which includes 350 scientists on its payroll, Hazra cited the state of the art engineering talent already on board at the enterprise.

Investors looking for exposure to all that generational talent can access it via Honeywells stock, which closed at $194.31 on May 15. Twelve TipRanks analysts set an average price target of $223.91, which represents 15.2% potential upside.

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Amazon.com Inc. (AMZN)

Amazon is rapidly expanding its presence in the quantum computing sector, primarily through its AWS Center for Quantum Networking for developing quantum network solutions and its Amazon Quantum Solutions Lab. Last year, Amazon also rolled out Amazon Braket, a cloud-based managed quantum computing service that researches and develops new quantum computing technologies.

Amazon is yet another deep-pocketed player that can take its time developing new products knowing that its massive revenue base $514 billion in 2022 can buy the companys quantum engineers all the time they need to master the market.

AMZN stock traded at $111.20 per share as of May 15, and 36 Wall Street analysts set a consensus price target of $134.24 with a strong buy rating. Thats upside potential of 20.7%.

Intel Corp. (INTC)

Intel is already widely recognized as the largest semiconductor company in the world. Now its taking significant steps to position itself as one of the rising stars in the quantum computing market.

In March, Intel introduced its Quantum software development kit, or SDK, to aid technology engineers in their ongoing research into quantum algorithms and applications. The SDK is already in use as a tool for researching fluid dynamics performance issues in the hydrodynamics and aerodynamics markets. Thats a path Intel is determined to follow to entrench itself in the quantum computing market.

The Intel Quantum SDK helps programmers get ready for future large-scale commercial quantum computers, says Anne Matsuura, director of quantum applications and architecture at Intel Labs. It will not only help developers learn how to create quantum algorithms and applications in simulation, but it will also advance the industry by creating a community of developers that will accelerate the development of applications, so they are ready when Intels quantum hardware becomes available.

INTC stock closed at $29.80 on May 15, and the price target consensus of 27 analysts on TipRanks is $30.98.

Taiwan Semiconductor Manufacturing Co. Ltd. (TSM)

TSM has laid the groundwork for its quantum computing efforts with a five-year strategic partnership with Taiwans Ministry of Science and Technology. Thats the tentpole in TSMs plan to use its new cloud computing platform to develop quantum computing applications that will one day make it to the commercial marketplace.

Couple those efforts with TSMs standing as one of the top semiconductor companies in the world that generates 10% to 15% annual revenue growth rates, and its easy to see why Taiwan Semi could be a solid landing spot for new quantum computing investment dollars.

TSM stock closed at $85.66 per share on May 15. A small sample of Wall Street analysts on TipRanks rate the stock a strong buy and set a consensus price target of $118.67 for TSM shares, representing potential upside of 38.5%.

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8 Best Quantum Computing Stocks to Buy in 2023 originally appeared on usnews.com

Update 05/16/23: This story was previously published at an earlier date and has been updated with new information.

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8 Best Quantum Computing Stocks to Buy in 2023 - WTOP