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Quantum Computing: 2026 Progress Report

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  Published in Stocks and Investing on Wednesday, January 21st 2026 at 6:39 GMT by The Motley Fool
      Locale: UNITED STATES, CANADA, UNITED KINGDOM

Wednesday, January 21st, 2026 - The buzz surrounding quantum computing hasn't faded; if anything, it's intensified. Five years ago, the promise was significant, but the tangible progress felt distant. Now, in 2026, we're witnessing concrete advancements, albeit within a still-nascent industry. Initial investments made back in 2021, focusing on the companies initially highlighted, have seen a mixed bag of results - substantial growth alongside periods of significant volatility. This article revisits that original thesis, examining the landscape as it exists today and offering updated perspectives on the potential for continued growth.

Quantum computing remains a revolutionary technology, often compared to the early days of the internet. Just as the internet's full potential wasn't immediately realized, quantum computing is undergoing a period of intense research, development, and refinement. While the sheer computational power promises to disrupt fields ranging from pharmaceutical research and materials science to finance and artificial intelligence, the practical applications are still emerging.

The initial risk assessment remains valid: investing in quantum computing is inherently speculative. The timeline for widespread adoption is uncertain, and technological hurdles persist. However, the potential upside - a paradigm shift in how we solve complex problems - justifies continued interest for long-term investors.

Let's revisit the three stocks initially identified as potential "once-in-a-decade" opportunities:

1. IonQ (IONQ): The Trapped-Ion Leader - A More Mature Play

IonQ has solidified its position as a leader in trapped-ion quantum computing. Their technology, relying on precisely controlled ions, offers advantages in terms of qubit stability and fidelity. The volatility initially seen in IONQ's stock price has lessened somewhat, demonstrating a degree of market maturity. Recent news indicates collaborations with major pharmaceutical companies for drug discovery, suggesting a slow but steady path towards commercialization. While not a guaranteed win, IonQ is likely to remain a significant player, albeit with a more tempered growth expectation compared to the hype of 2021.

2. Rigetti Computing (RGTI): Superconducting Challenges and Adaptations

Rigetti, focused on superconducting quantum computing, continues to face challenges. While they have achieved milestones in qubit count and connectivity, the path to profitability has been more arduous than initially anticipated. The intense competition within the superconducting sector has squeezed margins. In 2026, Rigetti has publicly acknowledged a shift in strategy, focusing on providing cloud-based quantum computing services rather than solely hardware development. This pivot represents a crucial adaptation, but its long-term success remains to be seen. Investors need to carefully monitor Rigetti's cloud service adoption and customer retention rates.

3. Quantum Computing Inc. (QQCI): The Software Layer - Essential for Accessibility

QQCI, the software-focused company, continues to be a compelling, albeit higher-risk, play. Initially viewed as speculative, the company's value lies in its ability to translate quantum processing power into usable solutions for diverse industries. The demand for accessible quantum software tools remains high as quantum hardware becomes more available. QQCI's partnerships with larger enterprises and continued development of their quantum-inspired algorithms have bolstered their position. The software layer is becoming increasingly recognized as a critical component of the broader quantum computing ecosystem, making QQCI a potentially rewarding long-term investment, but one requiring careful due diligence.

The Evolving Landscape and New Considerations

The quantum computing field hasn't stood still. Several new entrants have emerged, and advancements in error correction and qubit coherence are consistently being reported. Hybrid quantum-classical computing - combining quantum processors with traditional computers - is also gaining prominence. Companies focusing on quantum networking and cybersecurity are increasingly important as well.

Beyond the Original Trio: Companies to Watch in 2026

• D-Wave Systems (DWP): While initially focused on annealing, D-Wave continues to explore broader applications and has built a loyal customer base.
• IBM (IBM): IBM's quantum computing initiatives, including their cloud-based Quantum Experience, represent a significant investment and a long-term commitment.

Conclusion: A Cautiously Optimistic Outlook

The "once-in-a-decade" investment opportunity highlighted back in 2021 remains, in principle, valid, but the trajectory has been adjusted. The early exuberance has tempered into a more nuanced understanding of the technology's challenges and timelines. While the potential for disruption is undeniable, investors need to be prepared for volatility and recognize that significant breakthroughs are still required. A diversified approach, including the original three companies alongside exploration of newer players, is advised for those seeking to participate in this revolutionary technological frontier. The long-term vision remains bright, but patience and careful analysis are paramount.