As quantum computing enters a critical phase of commercialization, IonQ (IONQ) and Rigetti Computing (RGTI) emerge as leading U.S. public players with divergent strategies. Investors are evaluating which company will deliver stronger returns by 2026 amid rising R&D investments and expanding enterprise demand.
- IonQ achieved 99.97% gate fidelity in its trapped-ion quantum system in late 2025.
- Rigetti’s 128-qubit processor recorded 15,000 cloud user sessions in Q3 2025.
- IonQ’s 2025 revenue rose 42% to $38.7 million, while Rigetti’s declined 8% to $21.4 million.
- IonQ’s market cap stood at $1.2 billion in December 2025; Rigetti’s at $780 million.
- Rigetti secured $145 million in funding, including $50 million from a U.S. defense contractor.
- Analysts project IonQ’s contract value could grow 65% by Q2 2026.
IonQ and Rigetti Computing are positioned at the forefront of the U.S. quantum computing sector, each pursuing distinct technological paths. IonQ, based in Maryland, has maintained a focus on trapped-ion quantum hardware, achieving a 99.97% gate fidelity in its latest prototype, a benchmark that exceeds industry standards. Meanwhile, Rigetti, headquartered in California, leverages superconducting qubits and has deployed a 128-qubit processor as part of its cloud-accessible quantum platform, with over 15,000 user sessions recorded in Q3 2025. The performance gap in 2025 reveals a strategic divergence. IonQ reported a 42% year-over-year revenue increase, reaching $38.7 million, driven by key enterprise contracts with Fortune 500 firms in logistics and pharmaceuticals. Rigetti, however, reported a revenue decline of 8% to $21.4 million, primarily due to delays in scaling its quantum volume beyond 100 qubits. Despite this, Rigetti posted a 27% reduction in R&D expenses, signaling a shift toward operational efficiency. Market analysts project IonQ’s enterprise adoption curve will accelerate, with a 65% projected increase in contract value by Q2 2026. Rigetti’s path hinges on successful integration of its new quantum-classical hybrid architecture, expected to debut in late 2025. The company has secured $145 million in strategic funding, including a $50 million investment from a U.S. defense contractor, to support this initiative. Investors are closely watching both companies’ progress toward fault-tolerant quantum systems, a milestone expected between 2026 and 2027. With IonQ’s market cap at $1.2 billion and Rigetti’s at $780 million as of December 2025, the valuation gap reflects differing expectations on near-term scalability and commercial viability.