Quantum Computing Stocks Q3 2026: IonQ (NYSE:IONQ), Rigetti (NASDAQ:RGTI) and D-Wave (NASDAQ:QBTS) Outlook

Key Highlights

• IonQ (NYSE:IONQ) closed its SkyWater acquisition on July 31 and raised its 2026 revenue outlook to $450–$460 million.
• IonQ will install a Superion 256 system at NVIDIA's Accelerated Quantum Research Center in 2027.
• D-Wave Quantum (NASDAQ:QBTS) published a Nature paper on a high-fidelity two-qubit gate with built-in error detection.
• Rigetti Computing (NASDAQ:RGTI) and D-Wave each secured up to $100 million in CHIPS Act funding, with the government taking minority stakes.
• The Federal Reserve raised rates to 3.75%–4% on September 16, keeping pressure on growth stocks.

The technology is advancing faster than the share prices. As the third quarter of 2026 draws to a close, the three best-known pure-play quantum computing stocks, IonQ (NYSE:IONQ), Rigetti Computing (NASDAQ:RGTI) and D-Wave Quantum (NASDAQ:QBTS), have each notched up commercial and technical milestones. Yet their shares remain under pressure from expensive money and lingering doubts over how quickly quantum machines will turn into revenue.

Policy support has strengthened, factories have expanded and partnerships between quantum and classical computing have deepened. Even so, these are companies whose profits lie far in the future, and such businesses are especially sensitive to the rates used to discount those distant earnings.

Macro Backdrop: Higher Rates, Firmer Government Support

The wider environment has not helped. On September 16 the Federal Reserve raised the federal funds target range by a quarter of a percentage point to 3.75%–4%, its first increase since 2023. Updated projections put the median year-end rate at 4.1%, above earlier forecasts, and inflation remains elevated. For growth companies still years from consistent profitability, that means costlier financing and a higher bar for valuations.

Washington, by contrast, has grown more generous. On September 8 the Commerce Department finalised awards of up to $100 million each under the CHIPS and Science Act for Rigetti and D-Wave, targeting superconducting quantum technologies, fabrication and packaging. Quantinuum received a matching award. The money comes as research grants, with the government taking a minority, non-controlling equity stake in each company. Payments are tied to project milestones, so the funding is a commitment to be earned rather than cash in hand.

Quantinuum's IPO: A Fresh Public Benchmark

Quantinuum's flotation earlier this year raised roughly $1.7 billion, giving the sector a well-funded new public peer. Combined with federal manufacturing support, it shows that capital for quantum development is still available, even as investors grow choosier about what they will pay for it.

IonQ Stock (NYSE:IONQ): Manufacturing Scale and Hybrid Computing

IonQ enters the final stretch of the quarter with a transformed profile. The SkyWater deal gives it a vertically integrated platform spanning quantum computing, networking, sensing and security. SkyWater continues to operate as a foundry serving outside customers, while shortening IonQ's own chip-development cycles.

At its September 8 investor day the company raised its 2026 revenue guidance to $450–$460 million. Most of the jump reflects SkyWater's manufacturing revenue rather than organic growth: IonQ's standalone outlook of $280–$290 million was reaffirmed. Investors should read the two figures side by side. The same day, IonQ introduced the Superion 256, the first in an upgradable family of systems that uses electronic qubit control integrated on the chip. The processors are made with the newly acquired foundry capabilities, and orders are open.

On September 23 IonQ announced that a Superion 256 will be installed at NVIDIA's Accelerated Quantum Research Center in 2027, directly linked to NVIDIA's GB200 NVL72 system. The quantum processor will act as a specialised co-processor: quantum tasks go to the IonQ machine while classical and AI workloads run on the GPU cluster. It is worth noting that the system is not yet installed, and the arrangement is meant to test hybrid quantum-GPU integration rather than to demonstrate quantum advantage. Even so, tighter manufacturing, a clearer revenue outlook, a new platform and a marquee NVIDIA tie-up form the core of IonQ's quarter.

D-Wave Stock (NASDAQ:QBTS): Bookings Strength and Error-Correction Progress

D-Wave approaches quarter-end focused on turning a healthy bookings pipeline into recognised revenue. First-half bookings rose sharply year on year, and production applications made up a growing slice of its cloud revenue. The company also won up to $100 million in CHIPS R&D funding to develop larger annealing systems and gate-model capabilities. One housekeeping note for anyone tracking the ticker: D-Wave moved its listing from the New York Stock Exchange to Nasdaq in late July, keeping the symbol QBTS.

In August, D-Wave published a peer-reviewed paper in Nature on its superconducting dual-rail architecture. It describes a fast, high-fidelity two-qubit entangling gate that keeps the design's built-in error-detection advantage. The idea is to catch a large share of errors in hardware, which could cut the number of physical qubits needed for error correction while preserving quick gate speeds.

These developments strengthen D-Wave's long-term position. The near-term question is whether third-quarter results show bookings converting into reported revenue.

Rigetti Stock (NASDAQ:RGTI): Government-Backed Scaling and Deployment

Rigetti's quarter has been about investing in technology and delivery infrastructure rather than accelerating near-term sales. The finalised $100 million CHIPS award supports three priorities: shrinking readout electronics into compact packages, expanding cryogenic capacity with new cryostat architectures, and building fabrication capability for high-connectivity, multi-chiplet processors.

In August the company set up a dedicated Systems Delivery organisation to scale on-premises customer deployments. With a solid cash balance at mid-year, Rigetti has the resources to push its superconducting roadmap forward. Its third-quarter results will hinge on whether these investments begin to show up as stronger customer activity and revenue growth.

Quantum Stocks Outlook: What Comes After Q3 2026

The pattern across the three companies is consistent. Technical and structural progress is real, but share prices reflect caution about commercialisation timelines. Manufacturing integration, error-correction research, public funding and hybrid computing partnerships all suggest a sector moving from the laboratory towards industrial scale. Hybrid designs that pair quantum processors tightly with classical accelerators may serve as a useful bridge while fully fault-tolerant machines mature.

As third-quarter earnings approach, attention will turn to whether bigger factories, fuller pipelines, new platforms and strategic partnerships begin to appear in the financial statements. The macro headwinds are real, but the technology and the policy backing have both strengthened. The rest of 2026 should show how quickly commercial momentum can catch up with technical progress.

Frequently Asked Questions About Quantum Computing Stocks

Q: Why have quantum computing stocks struggled?

A: Higher interest rates hurt companies whose profits lie far ahead. Investors also want proof that milestones turn into revenue.

Q: What do the CHIPS Act awards mean for Rigetti and D-Wave?

A: Each can receive up to $100 million in research funding. The government takes a minority stake. Payments depend on milestones.

Q: How does the SkyWater deal help IonQ?

A: It adds in-house chip manufacturing. That could speed up development. It also lifts IonQ's 2026 revenue outlook to $450–$460 million.

Q: What is the NVIDIA tie-up with IonQ?

A: A Superion 256 system will be installed at NVIDIA's research centre in 2027. It will run alongside NVIDIA's GPU systems.

Q: What should investors watch in earnings reports?

A: Watch revenue growth, system deliveries, cash burn and any new partnerships.

This article is for informational purposes only and does not constitute investment advice. Quantum computing stocks are volatile and speculative. Readers should do their own research or consult a licensed financial adviser before making investm