Earnings reports for quantum computing stocks wind up on Friday with financial results due from Quantum Computing (QUBT). Israel-based Classiq on Thursday announced a new funding round, with investors including the venture arms of Advanced Micro Devices (AMD), Qualcomm (QCOM) and IonQ (IONQ).
The new round totaled “tens of millions of dollars,” said Classiq, which says it has now raised over $200 million. AMD’s rival, Nvidia (NVDA), has also been active investing in quantum startups.
Quantum Computing’s Q3 earnings are due after the market close Friday.
Meanwhile, the Trump administration reportedly is mulling taking equity stakes in some quantum companies, both public and private.
“Before investors get too excited about the government’s investment, they might want to wait and see how much equity the government requests in exchange for grants to companies that have yet to turn a profit,” said economist Ed Yardeni in a report.
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The Department of Energy in November announced $625 million in funding to renew five quantum research centers established under the first Trump administration.
Meanwhile, the Defense Advanced Research Projects Agency (or DARPA) has chosen 11 firms to advance to the second stage of the Quantum Benchmarking Initiative, a program aimed at assessing the feasibility of developing industrially useful quantum computers.
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The first stage focused on defining the technical concept for a utility-scale quantum computer. The second stage shifts to technical validation of utility-scale quantum architectures.
The 11 companies include IBM (IBM), IonQ, Atom Computing, Diraq, Nord Quantique, Photonic, Xanadu, Quantinuum, Quantum Motion, QuEra Computing, Silicon Quantum Computing and Xanadu.
Photonic quantum computing firm Xanadu recently announced plans to go public via a SPAC deal with Crane Harbor Acquisition Corp. (CHAC), that will value the combined company at $3.6 billion.
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Quantum computing works on a subatomic level and uses exotic technologies. Further, quantum computing aims to solve problems too complex for today’s classical computers and aims to discover new drugs, materials and chemicals.
Traditional computers use electronic circuits to store information as digital zeros and ones. Instead, quantum machines rely on processors known as “qubits.” When atom-based qubits link with other qubits, it’s a physics process called entanglement.
Meanwhile, IBM is touting two new quantum devices, Nighthawk and Loon.
Nighthawk is expected to be available via cloud computing by the end of the year, IBM said. The Loon processor is still experimental.
IBM’s roadmap aims to deliver its first fault-tolerant quantum computer by 2029. Fault tolerance means the system can detect and correct errors, allowing for complex, sustained calculations.
Among quantum computing stocks, IonQ, D-Wave Quantum (QBTS) and Rigetti Computing (RGTI) have reported Q3 results. D-Wave’s revenue grew to $3.7 million from $1.9 million a year ago, while Rigetti’s revenue was $1.9 million, down from $2.4 million a year ago. Amid its acquisition spree, IonQ’s Q3 revenue more than tripled from the same period last year to $39.9 million from $12.4 million.
In 2025, D-Wave stock has advanced 178%. Shares in IonQ are up 10%. Shares in Rigetti have advanced about 66%. Quantum Computing is down 38%.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
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