{"id":8554,"date":"2025-09-20T02:11:06","date_gmt":"2025-09-20T00:11:06","guid":{"rendered":"https:\/\/joapen.com\/blog\/?p=8554"},"modified":"2025-10-28T23:38:32","modified_gmt":"2025-10-28T22:38:32","slug":"quantum-computing-companies-playing-the-game","status":"publish","type":"post","link":"https:\/\/joapen.com\/blog\/2025\/09\/20\/quantum-computing-companies-playing-the-game\/","title":{"rendered":"Quantum Computing, companies playing the game"},"content":{"rendered":"\n

AI is in the portfolio, and now it’s time to think about the next big thing. There are many advances in many fields but they are too far away to my knowledge, the closer one where I have some literacy is technology, so I have picked Quantum Computing as a field where to read.<\/p>\n\n\n\n

When is Quantum computing to achieve relevant results? I have no clue, but there are many companies investing and advancing on this field and it could be that from here to 2030 many things can happen.<\/p>\n\n\n\n

I have been reading about Quantum Computing, and with the purpose of organize ideas, I did a Wardley Map for it.<\/p>\n\n\n\n

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I have selected public companies, as they are forced to publish financial data and be accountable in front of the regulator. There are many other companies, but I lack of time to review all.<\/p>\n\n\n\n

After observing the map, it’s interesting to see how IONQ and a little bit Rigetti are the ones that are doing something different: heavily invested in communications. The major players are focused on processors, software (there’s a world of new software here that probably deserves another map) and cloud and on-premise services.<\/p>\n\n\n\n

There are 2 groups of companies playing the game: big corporations and medium size corporations that are nurtured by investors and have small or nule revenue.<\/p>\n\n\n\n

What is the financial profile of the medium size companies?<\/h2>\n\n\n\n

I did a review of the 3 of them: Rigetti, D-Wave and IonQ, and they are similar:<\/p>\n\n\n\n

Small revenue, high-operating cost…<\/p>\n\n\n\n

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High valuations, small amount of debt, a lot of cash secured from investors<\/p>\n\n\n\n

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Too much amount of R&D, and negative returns<\/p>\n\n\n\n

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What are the ETFs doing?<\/h2>\n\n\n\n

As I’m new on this field, I wanted to know what the ETFs of the sector doing.<\/p>\n\n\n\n

VanEck Quantum Computing UCITS ETF (QNTM)<\/p>\n\n\n\n

Rank<\/th>Company<\/th>Approx % Weight<\/th><\/tr><\/thead>
1<\/td>IonQ, Inc.<\/td>~8.5 % <\/td><\/tr>
2<\/td>D-Wave Quantum, Inc.<\/td>~4.6 %<\/td><\/tr>
3<\/td>Intel Corporation<\/td>~4.2 %<\/td><\/tr>
4<\/td>Wells Fargo & Co.<\/td>~4.2 % <\/td><\/tr>
5<\/td>Bank of America Corp.<\/td>~4.1 % <\/td><\/tr>
6<\/td>Microsoft Corp.<\/td>~4.1 %<\/td><\/tr>
7<\/td>IBM<\/td>~4.1 % <\/td><\/tr>
8<\/td>Honeywell International, Inc.<\/td>~4.0 % <\/td><\/tr>
9<\/td>Amazon.com, Inc.<\/td>~4.0 % <\/td><\/tr>
10<\/td>Synopsys, Inc.<\/td>~4.0 % <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

WisdomTree Quantum Computing UCITS ETF (WQTM)<\/p>\n\n\n\n

Rank<\/th>Company<\/th>Approx % Weight<\/th><\/tr><\/thead>
1<\/td>IonQ, Inc.<\/td>~6.3-6.5 %<\/td><\/tr>
2<\/td>Rigetti Computing, Inc.<\/td>~5.6-6.0 % <\/td><\/tr>
3<\/td>D-Wave Quantum, Inc.<\/td>~5.0-5.6 % <\/td><\/tr>
4<\/td>Quantum Computing Inc. (Ticker: QUBT)<\/td>~4.0-4.5 % <\/td><\/tr>
5<\/td>Intel Corporation<\/td>~4.1-4.2 % <\/td><\/tr>
6<\/td>Alphabet Inc. (Class A)<\/td>~3.9-4.0 % <\/td><\/tr>
7<\/td>Amazon.com, Inc.<\/td>~2.9-3.5 %<\/td><\/tr>
8<\/td>Fujitsu Limited<\/td>~3.3 % <\/td><\/tr>
9<\/td>Microsoft Corporation<\/td>~3.2-3.3 % <\/td><\/tr>
10<\/td>IBM<\/td>~2.9-3.3 %<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Updated map 21\/Sept<\/h2>\n\n\n\n

Updated following inputs from Sergey,<\/p>\n\n\n\n

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Are these companies scam?<\/h2>\n\n\n\n

I did a random walk on Twitter searching for \u201cD-Wave scam\u201d, \u201cionq scam\u201d y \u201cRigetti scam\u201d. All of them have people announcing their technology is a scam. The one with more and worst comments is D-Wave.<\/p>\n\n\n\n

Definition of the Components on the map<\/h2>\n\n\n\n

As there are many new concepts, I have given a definition to each component to have better understanding and when sharing the map.<\/p>\n\n\n\n