36 quantum computing companies ranked by capability and future prospects (Autumn 2026)
The Summer 2026 edition covered 29 companies; the Autumn edition has been expanded to 36 companies (36 companies).
In just the past few months there has been a significant increase in evaluation material: large funding rounds, revenue growth, government contracts, quantum computer deliveries, next‑generation hardware, logical qubitslogical qubitsLogical Qubit / Logical QubitA unit of information treated as a single qubit protected from errors by using multiple physical qubits and quantum error correction.QI NoteSimply having “created a logical qubit” does not necessarily mean fault-tolerant quantum computing (FTQC) has been achieved. One should verify logical error rates, operational/gate performance, and scalability., quantum error correctionquantum error correction量子誤り訂正 / Quantum Error Correction / QECA technique that distributes information across multiple physical qubits and detects and corrects errors without directly disturbing the quantum state.QI NoteSimply implementing it does not automatically provide practical fault tolerance. What matters is whether the logical error rate is improved relative to the physical error rate. (QEC), and investments in manufacturing sites.
The nine companies newly added to our tracking list are Bluefors, Diraq, OQC, Qblox, Quantum Machines, QuantWare, QUDORA, QuEL and Riverlane. Meanwhile, Quantum Circuits (previously evaluated individually in the summer edition) was acquired by D‑Wave, and Oxford Ionics was acquired by IonQ, so their evaluations have been integrated into those acquirers for this autumn edition.
For the Autumn edition we placed particular emphasis on the areas beyond raw qubitqubitQubit / Quantum Bit / QubitThe basic unit of information in a quantum computer. It can represent not only 0 or 1 but also a quantum state that is a superposition of them.QI NoteHaving more qubits does not necessarily mean higher performance. Error rates, connectivity, coherence time, and the number of logical qubits are also important. counts.
The competitive axes for quantum computers are shifting from simply increasing physical qubitphysical qubitPhysical Qubit / Physical QubitIndividual qubits that are physically created and manipulated on a quantum processor. They are also used to form logical qubits.QI NoteA large number of physical qubits does not by itself indicate practical computational capability. Error rates, connectivity, and the number of physical qubits required per logical qubit are also important. counts toward capabilities that make a quantum computer a functioning system—logical qubits, QEC, real‑time control, classical–quantum integration, and manufacturing reproducibility.
Quantum Index evaluated 36 major quantum‑related companies comprehensively on the uniqueness and feasibility of their technology, distance to productization, revenue and customer base, fundraising ability, roadmaps, QEC, and manufacturing capability.
This is not a pure performance ranking of quantum computers. We evaluated not only hardware but also software, quantum control, QEC, cryogenic equipment, optimization, and other factors to assess where each company is likely to stand in the quantum industry over the next three to five years.
We also prioritized demonstrable technical achievements, delivered machines, customers, revenue and manufacturing capability over future roadmaps.
Capability and prospects ranking
1. Quantinuum | trapped‑ion quantum computers
Previous: 1 →
With high‑fidelity qubits, QEC, software and security, the balance between technology and business remains the strongest.
On Helios they are advancing demonstrations using logical qubits and expanding revenue. Collaborations such as the one with Quanta Computer show they are beginning to build the capacity to manufacture future large‑scale systems.
2. IBM Quantum | superconducting quantum computers
Previous: 3 ↑
We ranked IBM ahead of Google to take second place.
With Nighthawk r2 they have greatly increased circuit execution throughput, and they are advancing logical qubit demonstrations combining QEC and error mitigation. Including Qiskit, cloud and HPC integration, their ability to incorporate quantum computers into real computing infrastructure is strong (see).
3. Google Quantum AI | superconducting quantum computers
Previous: 2 ↓
Google remains world‑class in foundational research, including QEC studies using Willow.
The drop in ranking does not reflect a decline in technical capability but rather that IBM and Quantinuum have advanced not only QEC but also productization, user infrastructure and manufacturing. A major research breakthrough could easily change the ranking again.
4. IonQ | trapped‑ion quantum computers
Previous: 4 →
As a pure‑play quantum company, IonQ is rapidly expanding its business and, through acquisitions like Oxford Ionics and SkyWater, is vertically integrating from QPUQPUQuantum Processor / Quantum Processor / Quantum Processing Unit / QPUThe central part of the hardware that houses qubits and performs quantum computational operations such as quantum gates and measurements.QI NoteThe performance of a QPU cannot be judged by the number of qubits alone. Gate fidelity, connectivity, speed, error rates, and other factors must be considered together. to manufacturing (see).
Oxford Ionics’ high‑precision, electronic‑control ion‑trap technology is being integrated into IonQ’s product roadmap such as Superion 256. For this Autumn edition we therefore evaluate Oxford Ionics as part of IonQ rather than as a separate company.
However, acquisitions broaden the company’s scope, so it becomes more important to separate growth driven by the core quantum computer from growth driven by acquired businesses.
5. D‑Wave | quantum annealing and gate quantum computers
Previous: 5 →
D‑Wave’s strength is that it translates expectations into actual customer use and revenue via quantum annealingquantum annealingQuantum Annealing / Quantum AnnealingA computational method that uses quantum fluctuations to search for good solutions to combinatorial optimization problems and the like. Problems are solved by mapping them into a form where one searches for low-energy states.QI NoteQuantum annealing, unlike general-purpose gate-model quantum computers, is a scheme specialized for solving optimization problems. It was theoretically proposed in the 1990s by Hidetoshi Nishimori and others, and today D-Wave develops representative commercial systems. When evaluating performance, one should check not only the number of qubits but also how the problem is embedded and the comparison conditions with classical methods..
In 2026 D‑Wave acquired Quantum Circuits and entered the gate‑model space using dual‑rail qubits (see). From this Autumn edition we evaluate Quantum Circuits as part of D‑Wave’s dual‑platform strategy rather than separately.
It remains to be seen whether gate‑model participation will generate synergies with their existing quantum annealing business.
6. PsiQuantum | photonic quantum computers
Previous: 7 ↑
PsiQuantum’s strategy to build large‑scale FTQCFTQCFault-Tolerant Quantum Computing / FTQCA method for future large-scale quantum computing that uses quantum error correction to allow correct computation to continue even when physical errors occur.QI NoteA demonstration of quantum error correction is not the same as realizing FTQC. Logical error rates, the number of physical qubits required, logical gate performance, and so on are important. from the outset is high‑risk, but investments in the manufacturing base required for realization are becoming concrete.
We rated their investment in “the ability to build” — photonic switches, single‑photon detectors and advanced packaging — positively, including the US Commerce Department award (see).
7. Microsoft Quantum | topological quantum computers
Previous: 6 ↓
If topological qubits are realized, they could fundamentally change QEC overheads.
However, measurable large‑scale computational performance comparable to the top companies is not yet apparent. The upside potential is very large, but so is the technical risk.
8. QuEra | neutral‑atom quantum computers
Previous: 8 →
QuEra is moving not only on scalability via many atoms but also toward focusing on QEC and logical performance (see).
They are offering machines on AWS and expanding on‑premises deployments, placing them among neutral‑atom companies that can more readily translate research into products.
9. Quantum Machines | quantum control hardware & software
NEW
Rather than qubits themselves, they have built a strong position in the control layer that runs them.
They are working on integrating CUDA‑Q, GPUs, CPUs and quantum processors at low latency (see), and their presence could grow as QEC and classical–quantum hybrid approaches become more important.
10. Q‑CTRL | quantum control and software
Previous: 10 →
Focusing on quantum control, compilation and error suppression, Q‑CTRL develops technologies to extract better results from existing QPUs (see).
They are also expanding into quantum sensingquantum sensingQuantum Sensing / Quantum SensingTechnology that utilizes quantum phenomena such as superposition and quantum interference to measure magnetic fields, time, gravity, and other quantities with high sensitivity.QI NoteA field of quantum technology distinct from quantum computing; practical implementations already exist. When evaluating performance, check sensitivity, resolution, and the measurement environment. (see), and their hardware‑agnostic business model is an advantage.
11. Bluefors | cryogenic cooling systems and dilution refrigerators
NEW
Bluefors supplies the extreme cryogenic environments essential for superconducting and spin qubit development and is a representative equipment manufacturer supporting the quantum industry.
However, domestically IHI and Taiyo Nippon Sanso are developing dilutiondilutionDilution / Dilution / Shareholder Dilution / Equity DilutionAn increase in the number of shares—such as through the issuance of new shares—that causes existing shareholders' ownership percentage and the value per share to be relatively reduced.QI NoteCan occur through issuance of new shares for fundraising or through stock options, among other mechanisms. You should check not only the amount raised but also the number of shares after issuance and the resulting change in existing shareholders' ownership. refrigeration systems for 10,000‑physical‑qubit‑class systems for AIST, so competition may intensify in the future.
We valued Bluefors’ “pickaxe”‑style position: not betting on a single QPU approach but capturing demand from multiple hardware companies.
12. IQM | superconducting quantum computers
Previous: 14 ↑
IQM has been accumulating on‑premises quantum computer deliveries, mainly across Europe.
We rated them for progressing next‑generation roadmaps mindful of QEC, such as Halocene, while selling actual quantum systems (see).
13. Alice & Bob | cat qubits
Previous: 11 ↓
Cat qubitsCat qubitsCat Qubit / Cat Qubit / Schrödinger Cat QubitA qubit designed to use "cat states"—superpositions of distinct quantum states—to make certain types of errors less likely.QI NoteIt may reduce the overhead required for error correction, but not all errors are automatically suppressed. Attention should also be paid to the remaining error rates. offer clear hardware‑level error suppression for certain error types and represent a distinct technical differentiation.
They also announced an 18‑cat‑qubit on‑premises system, “Helium,” and are moving from qubit research toward system provision (see).
14. Xanadu | photonic quantum computers
Previous: 16 ↑
While maintaining a strong software base with PennyLanePennyLanePennyLaneAn open-source quantum software library developed by Xanadu, used for building and executing quantum circuits and for quantum machine learning.QI NoteNot specific to any particular quantum hardware; it can interface with multiple devices and simulators. For demonstrations, check which backend was used., Xanadu is also investing in hardware for FTQC.
We rated their effort to build a manufacturing base in Canada covering chips, packaging, testing and module assembly (see).
15. Infleqtion | neutral‑atom quantum computers & quantum sensing
Previous: 15 →
In addition to quantum computing, Infleqtion operates multiple quantum technology businesses such as sensing and atomic clocks (see).
The company’s revenue is relatively large for a pure‑play quantum firm (see), but neutral‑atom QPU performance still needs direct comparison with rivals like QuEra.
16. QuantWare | superconducting quantum processors
NEW
QuantWare takes the unique position of supplying QPUs themselves to external parties rather than selling completed quantum computers (see).
They are pursuing large fundraising and investment in manufacturing sites, but the roadmap for large qubit counts and actual QPU performance should be evaluated separately.
17. Fujitsu | quantum computing
Previous: 9 ↓
Fujitsu has very strong development capabilities as a Japanese company: superconducting quantum computersuperconducting quantum computerSuperconducting Quantum Computing / Superconducting Quantum Computing / Superconducting QubitAn implementation approach for quantum computers that operates superconducting circuits at ultra-low (cryogenic) temperatures and uses electrical quantum states as quantum bits (qubits).QI NoteCharacterized by fast gate operations, but performance is not determined by qubit count alone. Gate fidelity, coherence time, connectivity, and support for error correction should also be verified. development with RIKEN, HPC integration, and domestic infrastructure for government and research institutions.
For the Autumn edition we shifted emphasis from physical qubit counts to QEC and logical performance. We would like to see Fujitsu publish logical performance metrics comparable with leading overseas firms.
18. Atom Computing | neutral‑atom quantum computers
Previous: 12 ↓
Atom Computing remains strong on scalability—handling over a thousand atoms—and via collaboration with Microsoft.
However, we have reduced the weighting given solely to large physical qubit counts. Going forward, the key is how that scale converts into logical performance.
19. Pasqal | neutral‑atom quantum computers
Previous: 18 ↓
Pasqal has continued active fundraising and international expansion, maintaining lively business activity.
Neutral‑atom is a crowded field; success will depend not only on funding and deal volume but also on how much they can build out machine performance and commercial usage.
20. Qblox | quantum control and readout hardware
NEW
Qblox provides control hardware for quantum computers and is expanding into real‑time control for the QEC era.
In a joint demonstration with Riverlane they built the loop from measurement data acquisition to decoding and conditional correction. Going forward, performance evaluation must consider not just speed but also post‑correction fidelity.
21. Riverlane | quantum error correction
NEW
Riverlane is one of the few companies trying to productize QEC as an independent product layer.
Centered on Deltaflow, they partner with multiple hardware companies. If a QEC market materializes, there is substantial opportunity, but they will also face competition from hardware firms like IBM and Google that develop in‑house solutions.
22. Classiq | quantum software and algorithms
Previous: 13 ↓
Classiq has a unique software that generates and optimizes quantum circuits from high‑level models.
However, as CUDA‑Q and the SDKs of hardware vendors become more feature‑rich, it is unclear how large a commercial market an independent quantum software layer can form.
23. Photonic Inc. | spin‑and‑photonic quantum computers
Previous: 20 ↓
Photonic Inc. aims for modular FTQC by combining spin qubits with photonic interconnects.
They are developing ideas for large manufacturing facilities (see), but manufacturing capability and quantum computer performance are distinct—results from actual machines will be important.
24. OptQC | photonic quantum computers
Previous: 26 ↑
OptQC is one of the Japanese companies whose rating rose significantly in the Autumn edition.
Following a working machine, they completed a large funding round and are expanding their R&D hub. The next questions are not future qubit targets but actual machine performance and orders/deliveries for a second and third unit (see).
25. planqc | neutral‑atom quantum computers
Previous: 19 ↓
Planqc is advancing government projects and on‑premises deployments, mainly in Germany.
Winning government procurement is a strength, but the neutral‑atom field is competitive. The focus will be on how much machine performance and sustained commercial demand they can demonstrate.
26. Fixstars Amplify | optimization and quantum software
Previous: 17 ↓
Amplify, JIJ and Strangeworks all address quantum and quantum‑inspired optimization and support multiple hardware and solvers.
Amplify is notable for its high‑performance, in‑house GPU annealing solver “Amplify AE.” While supporting quantum annealing and gate‑model quantum computers, their business centers on practical combinatorial optimizationcombinatorial optimizationCombinatorial Optimization / Combinatorial OptimizationAn optimization problem that seeks, from many possible combinations of choices, the combination that satisfies given constraints while optimizing the objective value.QI NoteA representative candidate application of quantum computing, but classical algorithms are also very powerful. When evaluating quantum methods, comparisons under equivalent conditions are important..
The evaluation hinges on whether they can scale the business beyond quantum technology into the broader optimization market.
27. Rigetti | superconducting quantum computers
Previous: 21 ↓
Rigetti is an independent company with its own fab, able to handle chip design, manufacturing and cloud delivery.
However, competition in the superconducting space is strong. They need a clear technical differentiation that leads into the QEC era.
28. Diraq | silicon spin quantum computers
NEW
Diraq aims for large‑scale integration using silicon spin qubits, which have high compatibility with existing semiconductor manufacturing technologies.
They present roadmaps for hundreds of thousands of physical qubits and ~1,000 logical qubits, but the gap to current machines is large. We will watch whether they can turn the roadmap into actual integration technology.
29. QuEL | quantum control hardware
NEW
QuEL is a quantum control hardware company spun out of Osaka University.
They do not present flashy quantum computer roadmaps, but their achievement of revenue and profitability through product sales is notable for a quantum startup.
In addition to their core superconducting focus, they are developing control hardware for trapped‑ion systems. Expanding their customer base, including overseas, is the next focus.
Related: QuEL feature article
30. OQC | superconducting quantum computers
NEW
OQC is a UK‑based superconducting quantum computer company developing systems with data‑center integration in mind.
They are working on QEC integration, but compared with IBM and IQM there is still limited publicly comparable material on machine performance, deliveries and revenue.
31. QunaSys | quantum algorithms and software
Previous: 24 ↓
QunaSys has long carried out joint research and contract work with Japanese companies, focusing on quantum chemistry and materials simulations.
Their domain expertise is strong, but the path to turning research outcomes into large, recurring revenue streams is still unclear.
32. QUDORA | trapped‑ion quantum computers
NEW
QUDORA is a Germany‑based trapped‑ion company that has begun overseas expansion, including establishing a Japanese subsidiary.
They are building sales channels that lead to machine usage, including in Japan, but publicly available information on machine performance and business scale comparable to Quantinuum or IonQ is still limited.
33. Strangeworks | quantum computing software
Previous: 25 ↓
Like Fixstars Amplify and JIJ, Strangeworks addresses quantum and quantum‑inspired optimization, but its character is more that of a platform that aggregates multiple vendors’ computing resources.
After acquiring Quantagonia they incorporated optimization features such as HybridSolver. As multi‑backend support becomes commonplace, the question is how far they can demonstrate unique value beyond a simple connectivity layer.
34. JIJ | optimization and quantum software
Previous: 27 ↓
JIJ, like Fixstars Amplify and Strangeworks, centers on quantum and quantum‑inspired optimization and handles multiple compute backends.
They are active in R&D and public outreach, but their published case studies mainly show project‑based solutions to enterprise planning and operational problems using mathematical optimization. The key is whether such projects can be productized into reproducible, recurring revenue.
35. Quemix | quantum algorithms and software
Previous: 28 ↓
Quemix continues joint research with companies focused on quantum chemistry and materials simulations.
Materials is a promising application area for quantum computing, but widespread use of quantum algorithms will also require progress on the FTQC side. The important question is whether current joint research and contract work can be turned into continuous, stock‑type revenue.
36. Yaqumo | neutral‑atom quantum computers
Previous: 29 ↓
Yaqumo is a Japanese neutral‑atom quantum computer startup spun out of Kyoto University’s Institute for Molecular Science.
They are developing components and a domestic supply chain, but being relatively young they have limited publicly available material on machine performance, products, customers and revenue.
The bottom ranking does not mean a low technical assessment, but rather that at present they have the least comparable track record versus other companies.
Changes in ranking since the Summer edition
The Autumn edition added nine new companies and integrated Quantum Circuits and Oxford Ionics into D‑Wave and IonQ respectively, which were individually evaluated in the Summer edition.
Therefore, simply comparing the Summer and Autumn overall rankings can be misleading: it may be unclear whether a company fell because new entrants placed above it, or because its evaluation actually changed.
To address this, we extracted the 27 companies that can be evaluated independently in both the Summer and Autumn editions and compared their rankings within the same sample.
| Company | Autumn overall rank | Autumn rank within continuing 27 | Summer rank within continuing 27 | Net change |
|---|---|---|---|---|
| Quantinuum | 1 | 1 | 1 | → |
| IBM Quantum | 2 | 2 | 3 | ↑1 |
| Google Quantum AI | 3 | 3 | 2 | ↓1 |
| IonQ | 4 | 4 | 4 | → |
| D‑Wave | 5 | 5 | 5 | → |
| PsiQuantum | 6 | 6 | 7 | ↑1 |
| Microsoft Quantum | 7 | 7 | 6 | ↓1 |
| QuEra | 8 | 8 | 8 | → |
| Q‑CTRL | 10 | 9 | 10 | ↑1 |
| IQM | 12 | 10 | 14 | ↑4 |
| Alice & Bob | 13 | 11 | 11 | → |
| Xanadu | 14 | 12 | 16 | ↑4 |
| Infleqtion | 15 | 13 | 15 | ↑2 |
| Fujitsu | 17 | 14 | 9 | ↓5 |
| Atom Computing | 18 | 15 | 12 | ↓3 |
| Pasqal | 19 | 16 | 18 | ↑2 |
| Classiq | 22 | 17 | 13 | ↓4 |
| Photonic Inc. | 23 | 18 | 20 | ↑2 |
| OptQC | 24 | 19 | 24 | ↑5 |
| planqc | 25 | 20 | 19 | ↓1 |
| Fixstars Amplify | 26 | 21 | 17 | ↓4 |
| Rigetti | 27 | 22 | 21 | ↓1 |
| QunaSys | 31 | 23 | 22 | ↓1 |
| Strangeworks | 33 | 24 | 23 | ↓1 |
| JIJ | 34 | 25 | 25 | → |
| Quemix | 35 | 26 | 26 | → |
| Yaqumo | 36 | 27 | 27 | → |
This comparison reveals changes that the overall ranking alone did not show.
For example, IQM is overall 12th but rose from 14th to 10th within the same 27‑company sample. Xanadu rose from 16th to 12th, and OptQC moved up significantly from 24th to 19th.
Conversely, Fujitsu’s decline is not solely due to new entrants: even within the constant sample it fell from 9th to 14th. Classiq also fell from 13th to 17th, and Fixstars Amplify from 17th to 21st.
Looking only at Fixstars Amplify’s overall rank might suggest a nine‑place drop from 17th to 26th, but within the same company set the actual decline is four places.
Also note that companies that were below Oxford Ionics in the Summer edition—such as QunaSys, Strangeworks and JIJ—are compared after excluding acquired firms from the sample. Therefore mechanical rank increases due to M&A are not counted as “net change.”
The overall rank shows a company’s position in the quantum industry as of Autumn 2026; the rank within the continuing 27 shows whether the company’s evaluation itself changed from Summer to Autumn.
What the Autumn 2026 ranking shows
Even in the short period from the Summer to the Autumn edition, the relevant metrics in the quantum industry have changed considerably.
Previously, “how many qubits” was the easiest comparison metric. Today, however, two systems with the same 100 physical qubits can have vastly different computational capabilities depending on error rates, circuit depthcircuit depthCircuit Depth / Circuit Depth / Quantum Circuit DepthIn a quantum circuit, a metric that—after grouping together operations that can be executed simultaneously—indicates how many sequential layers (stages) of gate operations are required to complete the computation.QI NoteIn general, deeper circuits are more susceptible to noise, but performance is not determined by depth alone. Gate types, error rates, connectivity, and the circuit after compilation must also be considered., execution speed, connectivity and post‑QEC logical performance.
Thus, companies such as IBM, Quantinuum and QuEra appear to be shifting focus from simple physical qubit counts to metrics like logical qubits, execution throughputthroughputThroughput / ThroughputA metric indicating the amount of work that can be processed per unit time. In quantum computing, it represents how quickly circuits or jobs can be repeatedly executed, among other things.QI NoteThe definition and units of throughput vary between companies and systems. When comparing, check not only the raw number of executions but also conditions such as circuit size, accuracy, and wait times. and QEC performance.
At the same time, the importance of companies that sit around the quantum computer has increased.
New entrants to the upper ranks—Quantum Machines and Qblox—do not build qubits. Riverlane is not a QPU maker but specializes in QEC, and Bluefors builds cooling equipment.
But to realize large‑scale FTQC, qubits alone are not enough. You need the whole system: fast measurement readout, classical processing, returning results to the quantum system via control, and stable extreme cryogenic environments. Technologies that make the overall system work are essential.
Another notable trend is investment in manufacturing.
PsiQuantum, Xanadu, QuantWare, OptQC and Photonic Inc. are each investing in manufacturing facilities and R&D sites.
This does not mean quantum computers have already entered mass production.
Rather, companies appear to be recognizing the difference between building a single high‑performance lab machine and repeatedly producing systems of the same quality.
At the same time, large fundraising and ambitious roadmaps alone did not raise rankings.
Numbers like “10,000 qubits,” “1,000,000 qubits,” or “1,000 logical qubits” are easy to understand, but most are future targets. Without considering logical error rates, gate performance, circuit depth, execution speed and manufacturing yield, you cannot judge actual computational capability.
The same applies to revenue.
Revenue can come from cloud usage fees, system sales, government research contracts, quantum sensing, or legacy businesses acquired via M&A. Pure revenue figures do not always reflect progress in quantum computer business.
Quantum Index prioritizes“who is actually moving forward” over “who is making the biggest claims.”
We will continue to track logical qubits, QEC performance, machine deliveries, revenue, customers, government contracts and manufacturing capability—not focusing on any single metric but on whether each achievement leads to the next.
* This article is the Quantum Index editorial team’s assessment based on publicly available information confirmed as of September 2026. It is not a ranking of pure quantum computer performance, nor is it investment advice for trading stocks or other financial products. For private companies, limited disclosure of revenue and technical performance may affect their ranking.
NETWORKView the industry network around tracked companies →
