29 quantum computing companies ranked by capability and prospects (Summer 2026)
In the quantum computing market, you cannot judge a company’s future prospects by 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 or fundraising totals alone.
Even companies developing excellent qubits will not reach commercialization if there is no clear path to error correction and system integration. Conversely, firms that already generate revenue may struggle to sustain long-term growth without technical advantages or continued customer demand.
Accordingly, the Quantum Index editorial team conducted a comprehensive 3–5 year outlook assessment of 29 major quantum-related companies, based on the following criteria. For companies that have been acquired, we evaluated their core technologies and their positioning after acquisition on an individual basis.
- Uniqueness of technology and feasibility
- Distance to productization and commercialization
- Current revenues and customer base
- Fundraising ability and business continuity
- Partnerships and ecosystem
- Competitive advantages versus rivals
- Realism of the roadmap
This is not a ranking of quantum computer performance. We evaluated companies’ overall prospects, including hardware, software, quantum control, optimization, and cloud platforms. Scores were not produced by mechanically weighting each item equally; instead, the editorial team made a holistic judgment of technical feasibility, current business foundations, and the likelihood that results will materialize over the next 3–5 years.
Ranking of capability and prospects
1st Quantinuum | ion-trap
Quantinuum combines high-precision qubits, 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., software, and quantum cryptography/security businesses. It has built not only strong hardware performance but also a surrounding product ecosystem, giving it the best balance between technology and business at present.
Going forward, the key question is how far 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. can be scaled in systems after Helios.
2nd Google Quantum AI | superconducting
Google leads the world in research on quantum error correction. With Willow, it demonstrated suppression of logical errors and clarified a technical path toward 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..
Google is cautious about commercial services, but its research capability, manufacturing expertise, and financial resources are all outstanding.
See our Google Quantum AI explainer
3rd IBM Quantum | superconducting
IBM has built an integrated ecosystem of quantum processors, Qiskit, cloud access, HPC integration, and a broad user base across companies and research institutions. It may not always lead in individual qubit metrics, but it has strong capability to execute roadmaps and provide a usable environment.
Going forward, whether IBM can transition from the Nighthawk generation to FTQC as planned will shape its評価. However, the current roadmap includes multiple technological leaps, and Quantum Index is not optimistic that all targets will be met on schedule.
4th IonQ | ion-trap
As a pure-play quantum company, IonQ has rapidly expanded revenue and diversified into quantum networking, sensing, components, and software. Aggressive acquisitions, including Oxford Ionics, aim to vertically integrate technology and talent.
However, integrating acquired organizations and different technologies to deliver results commensurate with the investment is a major challenge.
5th D-Wave | quantum annealing
The primary reason D-Wave ranks fifth is not future potential but that it actually captures current customer demand. 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. has different purposes and evaluation metrics from universal gate systems, so comparing qubit counts directly is misleading. Still, focusing on 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. and converting actual hardware use into customer acquisition and revenue is a real achievement.
That said, there is no clear demonstration that practical problems solvable only by pure quantum annealing exist. For problem sizes and complexities that D-Wave Advantage can handle, simulated annealing on CPUs often suffices. For large, complex practical problems, hybrid solvers that rely primarily on classical computingclassical computingClassical Computing / Classical Computation / Classical Computing / Classical ComputationA computation method that uses bits of 0 and 1; the form of computation performed by the computers commonly used today.QI NoteUsed as a point of comparison with quantum computing, but it can encompass CPUs, GPUs, supercomputers, and specialized algorithms, so care should be taken about the conditions of comparison. are frequently used. Thus, while D-Wave’s current business value is appreciable, it is important to separate which results stem from quantum-annealing-specific advantages.
What raises concern is D-Wave’s move into gate-based quantum computinggate-based quantum computingA method of computing by sequentially applying quantum gates to qubits. A representative quantum computing model in which quantum circuits are assembled to run algorithms.QI NoteIts computation method differs from approaches such as quantum annealing. The label "gate-based" alone does not guarantee that general-purpose, large-scale practical computation is possible; the number of qubits, error rates, and circuit depth are also important. through its acquisition of Quantum Circuits. Strategically this can be understood as anticipating market expansion, but it may dilute the strengths and resources of the annealing business it has built. At present, we do not add points to D-Wave’s ranking simply for entering gate-based systems. Going forward, we must judge whether holding both annealing and gate-based capabilities will create synergy or leave both underdeveloped.
6th Microsoft Quantum | topological qubits
If topological qubits are realized, they could dramatically reduce the overhead required for quantum error correction and potentially reshape the industry. Microsoft’s Azure Quantum also gives it an established business platform that includes other vendors’ hardware.
In June 2026, Microsoft announced Majorana 2, reporting an average qubit lifetimequbit lifetimeQubit Lifetime / Qubit Lifetime / Quantum Bit LifetimeA term referring to the time during which a qubit can retain its quantum state. Depending on context, it may denote a specific metric such as the energy relaxation time.QI NoteNot necessarily strictly synonymous with coherence time. When examining numerical values, check what is being called the "lifetime" (for example, T1, T2, etc.). of 20 seconds and a 1,000-fold reliability improvement over the previous generation. While these data increase the material available to assess the feasibility of topological qubits, much of the evidence comes from Microsoft’s own evaluations and externally verifiable material remains limited. Success would produce high upside, but technical risk remains significant.
See our Microsoft Quantum explainer
7th PsiQuantum | photonic
PsiQuantum aims to leverage semiconductor manufacturing to build large-scale FTQC from the outset. It has secured enormous funding, government support, and manufacturing partners, and it has the organizational strength to execute this vision.
However, because PsiQuantum is not pursuing a strategy of demonstrating performance through incremental small-scale machines, external assessment of progress is difficult. The upside if successful is higher than Microsoft’s, but the technical risk is correspondingly extreme.
8th QuEra | neutral-atom
QuEra shows scalability in arranging large arrays of atoms and has also produced promising research results for quantum error correction. It already offers cloud access to its hardware, placing it well to translate research into products.
As competition in neutral-atom platforms intensifies, the focus will be whether QuEra can demonstrate advantages not only in qubit counts but in gate fidelitygate fidelityGate Fidelity / Gate Fidelity / Quantum Gate FidelityA measure of accuracy that indicates how closely a quantum gate operation was performed compared to the ideal operation.QI NoteHigher is generally better, but values depend on the measurement method and differ between single-qubit and two-qubit gates. When comparing, also check the evaluation conditions., 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., and logical qubit performance.
9th Fujitsu | superconducting / quantum–HPC hybrid
Fujitsu ranks highly because it has advanced not only research and development but also construction of actual machines, external provision, and commercial contracts. It has provided a 256-qubit 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. developed with RIKEN to companies and research institutes, and was the first domestic vendor to win a commercial gate-based quantum computer order from AIST. Fujitsu plans to operate a 1,000-qubit machine in 2026.
Fujitsu’s strength also lies in integrating quantum hardware, quantum simulators, HPC, and applications into its own computing infrastructure. However, public information has focused on 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, giving an impression of a “horsepower race.” There is insufficient public data to compare actual computational performance in terms of gate fidelity, circuit depth, or 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..
10th Q-CTRL | quantum control software
Q-CTRL addresses the cross-cutting need for error suppression and control of quantum hardware regardless of platform. It has won government and defense contracts and is 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. as well as quantum computing.
A risk is competition from hardware vendors that choose to internalize control techniques.
11th Alice & Bob | superconducting cat qubits
Alice & Bob’s 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. suppress bit-flip errors at the hardware level, providing clear technical differentiation. Importantly, the company has moved beyond chips to offer an integrated system including cryogenics, control electronics, and software.
However, it remains to be seen whether the cat qubit advantage holds in integrated systems and whether it can be extended to general-purpose quantum error correction; further demonstrations are needed.
12th Atom Computing | neutral-atom
Atom Computing’s strengths are a large-scale system that can handle over 1,000 atoms and its close cooperation with Microsoft. It demonstrates neutral-atom scalability as a practical computing system.
Still, physical qubit counts alone do not equate to practical performance. Atom Computing’s true value will be judged by gate quality, logical qubits, and the scale of circuits it can execute.
See our Atom Computing explainer
13th Classiq | quantum software
Classiq provides a development platform that designs and optimizes quantum circuits from high-level models. It has unusually strong fundraising for a quantum software company and is actively pursuing partnerships with corporations and governments and expanding internationally.
We place Classiq at 13th mainly because corresponding revenue commensurate with its fundraising is not yet visible. Demand for high-level circuit design is uncertain, and differentiation from free, powerful frameworks like Qiskit or CUDA-Q is unclear. Market growth itself depends on the timing of FTQC’s arrival. Converting current partnerships and deployments into sustainable software revenue is key.
Classiq’s primary development center is in Israel, so prolonged regional instability poses potential risks for talent acquisition and business continuity. However, we found no public evidence that the company’s international expansion or customer acquisition has been materially affected, so this was not directly reflected in the ranking.
14th IQM | superconducting
IQM delivers on-premises quantum computers to research institutions and HPC centers, primarily in Europe. It has the ability to convert research outputs into revenue through government procurement and machine sales.
Because the superconducting space includes many competitors such as IBM and Google, IQM must secure a distinctive technical advantage using European procurement demand as a base.
15th Infleqtion | neutral-atom & quantum sensing
Infleqtion operates multiple quantum-technology businesses, including neutral-atom quantum computers, quantum sensors, atomic clocks, and time synchronization. This business mix is resilient because it does not depend solely on the timing of quantum computer deployment.
However, it must be demonstrated that investments across these broad areas can be converted into sustained product revenues.
16th Xanadu | photonic
Xanadu has two pillars: photonic quantum computers and the quantum machine learning/programming framework 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.. PennyLane has gained broad recognition as hardware-agnostic software.
Constructing FTQC-grade photonic quantum computers requires precise integration of many light sources, detectors, and optical circuits, so hardware scale-up will take time.
17th Fixstars Amplify | quantum / quantum-inspired optimization platform
Fixstars Amplify offers a unique quantum-inspiredquantum-inspiredQuantum-Inspired Technology / Quantum-Inspired Computing / Quantum-Inspired Technology / Quantum-Inspired ComputingA computing technology that, inspired by concepts and mathematical methods from quantum computing, primarily runs on classical computers. It is widely used especially in the field of combinatorial optimization.QI NoteEven though "quantum" appears in the name, it does not necessarily use quantum hardware. In announcements or publications, verify the actual computing platform and whether an advantage over classical methods has been demonstrated. In particular in the optimization field, there are solvers that already demonstrate practically useful, high-level performance. annealing machine and provides access to quantum annealing, Ising machines, mathematical optimization solvers, and gate-based quantum computers from a common development environment.
Its strength is monetizing current optimization demand without relying solely on future quantum computers. The challenge is whether domestic adoption can be scaled into international sales and a sustainable competitive advantage.
See our Fixstars Amplify explainer
18th Pasqal | neutral-atom
Pasqal is one of Europe’s leading neutral-atom quantum computingneutral-atom quantum computingNeutral Atom Quantum Computer / Neutral Atom Quantum Computer / Neutral-Atom Quantum ComputingA quantum computing approach that traps and arranges neutral (uncharged) atoms using lasers or similar methods and uses their quantum states as qubits.QI NoteA characteristic is that many atoms can be arranged in a regular pattern relatively easily. When comparing performance, one should check not only the number of atoms but also gate fidelity, reconfiguration (rearrangement), and loss rates. firms, advancing government contracts, research partnerships, and hardware deployment.
Nonetheless, competition in the neutral-atom space from QuEra, Atom Computing, Infleqtion, and planqc is intense, and public information does not yet show a clear performance or business lead over peers.
19th planqc | neutral-atom
Planqc has won government contracts and machine delivery plans centered in Germany. Founded from research institutions, it combines technical capability with the ability to turn European quantum and HPC policies into business opportunities. Its company size is still small, but if scheduled funded projects lead to operational machines, its ranking could rise substantially.
20th Photonic | silicon spin qubits & photonic network
Photonic combines silicon spin qubits with optical communications to pursue a distributed quantum computing architecture. It has ties with Microsoft, and its network-based scaling strategy is distinctive. However, publicly evaluable information remains limited.
21st Rigetti | superconducting
Rigetti is one of the few independent superconducting quantum companies handling chip design, fabrication, and cloud delivery. It continues technical improvement while operating as a public company, which is commendable.
However, its revenue scale remains small and it has not shown a clear advantage over IBM, Google, or IQM. It needs both steady funding and performance improvements.
22nd Oxford Ionics | ion-trap
Oxford Ionics’ strength is a technology that controls qubits electronically without heavy reliance on lasers. Its acquisition by IonQ provides access to funding, manufacturing, and sales channels.
Going forward, it should be evaluated as part of IonQ’s technology portfolio rather than as an independent company. The key question is whether different control approaches can be integrated into IonQ’s roadmap.
See our Oxford Ionics explainer
23rd Quantum Circuits | superconducting dual-rail
Quantum Circuits uses dual-rail qubits designed to make errors during computation easier to detect. The design pairs well with quantum error correction and differs technically from conventional superconducting qubits.
Now under D-Wave, it has more development resources, but it will be assessed as part of D-Wave’s gate-based strategy going forward. Allocating R&D resources to both annealing and gate-based efforts risks leaving both businesses under-resourced.
See our Quantum Circuits explainer
24th QunaSys | quantum chemistry software
QunaSys focuses on quantum chemistry and materials simulations and has built relationships with domestic chemical and materials companies. It possesses high domain expertise as a Japanese quantum software company.
However, its current business model—centered on contract work—makes large-scale growth difficult. The question is whether current industrial partnerships can be developed into a continuously expanding revenue base during the wait for FTQC.
25th Strangeworks | quantum & quantum‑inspired platform
Strangeworks aggregates multiple quantum computers, quantum annealers, and quantum-inspired solvers in one platform. Allowing users to choose compute resources by problem type is a sensible approach.
Yet mere connectivity to many solvers does not sufficiently differentiate it from cloud providers or hardware vendors. It must become an indispensable platform that includes model building, solver selection, and operations support.
See our Strangeworks explainer
26th OptQC | photonic
It is notable that OptQC has operated the domestic photonic quantum computerphotonic quantum computer光量子コンピューター / Photonic Quantum Computer / Optical Quantum ComputerA quantum computer that performs quantum computation using photons or the quantum states of light as carriers of information.QI NotePhoton generation, loss, detection, and integration affect performance. One should consider not only the number of qubits but also loss rates and the performance of light sources and detectors. “MoQuren” as a system. The company is attempting integration not only of research-stage light sources and chips but also software and execution environments.
Proof of continuous external user adoption, performance metrics, and ongoing commercial demand remains to be demonstrated. The next focus is moving from “it runs” to “it can perform valuable computations.”
27th JIJ | mathematical optimization & quantum/quantum‑inspired
JIJ provides a mathematical optimization platform compatible with quantum annealing and various Ising machines. Its strength lies in penetrating domestic enterprise workflows and supporting everything from problem formulation to deployment.
However, as the competitive field broadens from quantum annealing to high-performance classical solvers and domain-specific optimization and AI, JIJ must clarify its platform’s unique value.
28th Quemix | quantum algorithms & materials simulation software
Quemix develops FTQC-targeted algorithms and quantum chemistry/materials simulation research. The materials sector has clear industrial demand, and Quemix’s proprietary algorithms are a positive.
However, widespread use of quantum algorithms requires corresponding hardware. The key is whether current materials simulations and technical services can evolve into steady product revenues.
29th Yaqumo | neutral-atom
Yaqumo is a Japan-born startup developing neutral-atom quantum computers based on research from Kyoto University and the Institute for Molecular Science. Its foundational technologies—ytterbium atoms and ultrafast quantum control—are noteworthy.
Founded in 2025, the company is young and public information on machines, qubit performance, customers, and product roadmaps is limited. Its bottom position reflects the scarcity of evaluable business and demonstration data, not a rejection of the technology.
Quantum Index Analysis
What the top companies in this ranking have in common is not merely large 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.
Quantinuum brings high-precision hardware and product businesses, Google leads in 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., IBM offers development environments and a user network, IonQ shows business scale, and D-Wave captures current customer demand—each has distinct strengths.
Conversely, even firms that have raised large sums were downgraded if they have not publicly demonstrated sufficient machine performance or intermediate technical milestones. A grand roadmap goal does not equal a high probability of realization.
For quantum software and quantum‑inspired companies, we emphasized not only survival until general-purpose quantum computers are realized but also the ability to generate revenue from present customer problems. Companies that can capture real demand today, including classical computingclassical computingClassical Computing / Classical Computation / Classical Computing / Classical ComputationA computation method that uses bits of 0 and 1; the form of computation performed by the computers commonly used today.QI NoteUsed as a point of comparison with quantum computing, but it can encompass CPUs, GPUs, supercomputers, and specialized algorithms, so care should be taken about the conditions of comparison., may be more stable in the short to medium term than hardware-only firms.
This ranking is not a fixed evaluation. Positions will change significantly with demonstrations of 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., machine deliveries, customer usage, revenues, fundraising, and acquisitions. Quantum Index will continue to update the list regularly based on publicly released results.
*This article reflects the editorial team’s assessment based on public information available as of August 2026. It is not investment advice for buying or selling stocks or other financial products. For private companies, limited disclosure of revenues or technical performance means that a lack of public information may affect rankings.
