D-Wave, IonQ, and Rigetti use different approaches to build quantum computers.

All three companies are unprofitable but are generating sales from their quantum systems.

The odds are stacked against any of the stocks turning $10,000 into $1 million over the next 20 years.

10 stocks we like better than IonQ ›

Once in a while, a new technology comes along on which fortunes are built. Personal computer. The internet. Artificial intelligence (AI). Some people profited tremendously from investing early in companies that became big winners in each of these technologies.

Now, another such opportunity is available. Quantum computing holds the potential to transform multiple industries. Unsurprisingly, many investors see dollar signs before their eyes when they look at the rising stars in the field, such as D-Wave Quantum (NYSE: QBTS), IonQ (NYSE: IONQ), and Rigetti Computing (NASDAQ: RGTI). Which of these quantum computing stocks is the most likely millionaire-maker?

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If you’ve seen one quantum computer, you’ve seen... one quantum computer. Different companies use different quantum technologies.

D-Wave Quantum employs an approach known as quantum annealing. It’s designed primarily to focus on optimization and search problems. Quantum annealing uses superconducting materials to build quantum computers. These superconductors have no electrical resistance at extremely low temperatures. D-Wave’s Advantage2 Quantum Processing Unit (QPU) is a superconductor-based annealing quantum computer that can solve complex problems.

IonQ uses a trapped-ion architecture to build its quantum systems. The company traps individual ionized ytterbium (a rare-earth metal) atoms. It then builds linear chains of these trapped ions to create qubit (the basic unit of information in quantum computers) gates. IonQ ultimately uses these qubit gates to run complex algorithms. The company’s approach requires minimal cooling and has a superior error correction rate compared to other quantum computing methods.

Rigetti Computing believes superconducting is the best method of developing quantum computers. One key reason behind the company’s view is that superconducting systems can support more qubits. While other companies are also taking this path, Rigetti’s full-stack development approach arguably gives it a key competitive advantage. The company operates the first dedicated quantum foundry. Its Cepheus-1-36Q ranks as the largest multi-chip quantum computer.

A great technology only goes so far. Companies must create viable businesses, too. How do D-Wave’s, IonQ’s, and Rigetti’s businesses stack up against each other?

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