Overview
- IonQ shares, after a big 2025 run, are down 14% year to date through Feb. 3 as investors reassess pure‑play valuations.
- In January, IonQ bought Skyloom for quantum networking, SkyWater Technology for U.S. chip foundry capacity, and Seed Innovations for AI software, and it claims a vertically integrated full‑stack platform.
- Some analysts recommend rotating to large tech such as Microsoft or Alphabet for lower‑risk quantum exposure, with Microsoft saying its chip could help scale systems to 1 million qubits and potentially bolster cloud and AI.
- Other commentators still back higher‑upside pure plays like IonQ and D‑Wave, noting the potential but emphasizing substantial execution risk.
- Approaches diverge: IonQ’s trapped‑ion systems emphasize accuracy though they run slower, while D‑Wave’s quantum annealing targets optimization problems, and broad commercial impact is still seen years away even as McKinsey projects a roughly $100 billion market over the next decade.