Recent quantum stock reporting

We have seen NVIDIA grow into a very large four to five trillion dollar market cap company. My previously shared argument was that quantum computing would end up becoming an establishment play.

We have seen some quantum computing stocks pick up absolutely historic wealth-minting gains, but we are now seeing some analysts calling for a potential retreat in those stock prices. Sean Williams, writing for The Motley Fool, shared the following note that really caught my attention: “Over the trailing year, ended Oct. 30, shares of quantum computing pure-play stocks IonQ (NYSE: IONQ), Rigetti Computing (NASDAQ: RGTI), D-Wave Quantum (NYSE: QBTS), and Quantum Computing Inc. (NASDAQ: QUBT) have respectively gained 262%, 2,810%, 3,060%, and 1,130%. Rallies of this magnitude tend to inspire the fear of missing out (FOMO) in retail investors” [1]. That article from Sean was a solid read and I’m glad it caught my attention this week.

We have seen NVIDIA grow into a very large four to five trillion dollar market cap company. My previously shared argument was that quantum computing would end up becoming an establishment play at the enterprise level [2]. I suggested that Google, IBM, or Microsoft would eventually acquire some of the quantum computing companies or simply own the enterprise layer outright. Maybe the part I missed back in July was that the NVIDIA team would find a way to bridge their current compute capacity with quantum chips [3]. They are certainly signaling positioning related to making that bridge a reality. The part of the press release I focused on was the NVQLink announcement and what it might mean for the main players in the quantum computing pure-play stocks [4]. Bridging the massive investments enterprises have already made in NVIDIA products with quantum computing is likely to become a reality. That would mean the enterprise-facing side of this landscape will be real, substantial, and powered by some form of NVIDIA technology.

Within that press release, NVIDIA signaled a very clear roadmap involving an ecosystem of 17 quantum computing builders and 9 scientific labs working toward a bridge between GPUs and QPUs. Building backward linkage between the huge installed base of NVIDIA hardware and emerging quantum technology is notable. However, it still makes sense that NVIDIA may eventually acquire a quantum hardware company or begin building its own hardware at scale when the market for GPUs softens or changes. We know that the enormous fleet of deployed GPU-based systems is on a replacement clock and will either need to be refreshed or transition to the next key hardware generation, which could very well include QPUs. We may still see Google, IBM, or Microsoft deliver quantum computing workloads and manage them as part of enterprise offerings. It is also possible that those siloed efforts will end up competing with the ecosystem NVIDIA is assembling. Given the sheer scale of datacenter deployments and the emerging incentives to integrate QPUs, this move from NVIDIA is something worth watching closely throughout its development.

Footnotes:

[1] Yahoo Finance. (2025, November 3). Quantum computing stocks IonQ, Rigetti Computing, and D-Wave Quantum can plunge up to 58%, according to select Wall Street analysts. Yahoo Finance. https://finance.yahoo.com/news/quantum-computing-stocks-ionq-rigetti-085100215.html

[2] Lindahl Letter. (2025, July 18). Is quantum computing becoming an establishment play? nelsx. https://www.nelsx.com/p/is-quantum-computbing-becoming-an

[3] NVIDIA Corporation. (n.d.). Accelerated quantum computing solutions. Retrieved November 4, 2025, from https://www.nvidia.com/en-us/ solutions/quantum-computing/

[4] NVIDIA Corporation. (2025, October 28). Nvidia introduces NVQLink: Connecting quantum and GPU computing for 17 quantum builders and 9 U.S. labs. NVIDIA News.https://nvidianews.nvidia.com/news/nvidia-nvqlink-quantum-gpu-computing