2 Quantum Computing Stocks That Could Help Make You a Fortune

Quantum computing looks likely to be the next big technological revolution, with reliable systems potentially arriving as soon as 2029. It has major implications for various industries, including AI.

However, every company in this space is still working to clear two difficult hurdles: building systems at scale, and creating computers that are reliably accurate.

Once these pressing problems are solved, the quantum computing industry could become a major growth area, so identifying companies now that are succeeding in this space and positioning your portfolio ahead of time makes a lot of sense.

Two quantum computing stocks that I think could make investors a fortune over the next few years are IonQ (NYSE: IONQ) and Nvidia (NASDAQ: NVDA).

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Nvidia is still a smart quantum computing investment

Nvidia won't be at the top of investors' minds when it comes to quantum computing, and that's OK. The giant chipmaker isn't trying to compete against IonQ and its many rivals to develop a viable quantum computing system. Instead, it's positioning itself to support them.

Nvidia has created NVQLink, a tool that acts as a bridge connecting quantum computing units to traditional computer clusters. It has also developed a version of its CUDA software platform called CUDA-Q that's modified to program quantum computers. Additionally, it pioneered an AI model (Ising) to improve quantum-computing error correction.

All of this will help Nvidia secure a place in the quantum computing space regardless of which developers actually deliver commercially viable quantum computers. Those cutting-edge machines will need to be integrated with conventional supercomputers and servers, so Nvidia makes sense as both a quantum computing investment and an AI pick, particularly given how much money is still being spent to build massive new data centers.

IonQ's advantages

IonQ is generally recognized as the current pure-play quantum computing leader. As mentioned, there are two primary problems holding quantum computing back right now: accuracy and scale.

Currently, quantum computers are not nearly as accurate as traditional computers, and a computer is not terribly useful if you can't trust its results. However, IonQ currently holds the world record by one key measure for the most accurate quantum computing technology. Next year, it's launching its 256-qubit system, which will be one of the biggest quantum computers available.

A successful launch of this system will vault IonQ into leadership status within the quantum computing sector and put it on the fast track to capture a major piece of the market opportunity in this space. That could make investors a fortune, as the projected market opportunity is massive.

Quantum computing could be a massive industry

A report from McKinsey & Company estimates that the quantum computing industry could generate up to $72 billion in annual revenue by 2035 (up from $4 billion in 2024). While that's still a ways off, if IonQ can capture a sizable fraction of that market, it would likely be a successful investment.

However, $72 billion is still just a fraction of what Nvidia is set to book in sales. In its most recent quarter, Nvidia's revenue totaled $96.2 billion, and grew at a 106% year-over-year pace. So, Nvidia is already generating in one quarter what a bullish projection says the whole quantum computing industry will generate in a year almost a decade from now. That's a stark contrast, but it also points to another reality.

There is massive demand for AI computing power, and Nvidia's GPUs are currently the best product available to provide it. That industry is expected to undergo significant growth over the next few years. There's still a lot of room for Nvidia to run, even though it's the world's largest company.

This year, the big five AI hyperscalers are on course to spend nearly $800 billion on data center capital expenditures. Next year, Nvidia estimates that figure will be $1.3 trillion. By 2030, Nvidia expects global annual data center capital expenditures to land between $3 trillion and $4 trillion.

The massive growth that would generate has yet to be accounted for in Nvidia's stock price. I think investors could profit handsomely by buying both IonQ and Nvidia now, as those two holdings position investors well to benefit from the major trends that will drive the tech sector over the next decade.

Keithen Drury has positions in IonQ and Nvidia. The Motley Fool has positions in and recommends IonQ and Nvidia. The Motley Fool has a disclosure policy.