This Tech Stock Doesn't Need AI to Win. That's Exactly Why It's My Top Pick Right Now.

The artificial intelligence (AI) market has gone utterly ballistic over the past couple of years and demonstrated shocking resilience. No matter how many people have warned of the potential of an AI bubble bursting, AI stocks have continued up and up, reaching new highs seemingly every week.

No matter how bullish you might be on AI, though, it's always worth hedging your bets. And fortunately, you do have an option as an investor to make a tech play that doesn't involve AI at all.

I'm talking about quantum computing, specifically a company called IonQ (NYSE: IONQ).

Image source: Getty Images.

The quantum revolution

Now, while AI certainly has some synergy with quantum computing, they aren't dependent upon one another.

Quantum computers are actually terrible at the normal computer stuff that even the most advanced agentic AI is designed to do, like surfing the net or compiling a spreadsheet.

It is, however, brilliant at things like encryption, sophisticated modeling, and extremely complex calculations. The scientific applications are virtually limitless.

For instance, Alphabet's quantum computer, Willow, solved a math problem in five minutes that would have taken even the most advanced conventional supercomputer 10 septillion years to solve.

So, while there is likely a convergence point between quantum computing and AI coming at some point, the two are not dependent upon one another yet. And quantum stocks like IonQ represent a tech play that doesn't rely on AI.

Taking a quantum leap

IonQ is the only end-to-end quantum computing company. It will straight up sell you a quantum computer (if you're a large business or the government, at least).

But quantum machines don't come cheap, so the bulk of IonQ's revenue comes from selling access to its own quantum machines over the cloud.

For many businesses and research laboratories that might have a use for a quantum computer, buying and maintaining one is not economically feasible. So, they can rent access to one of IonQ's.

The company also offers quantum computer networking and security services, as well as quantum sensors and space infrastructure. It's all very sci-fi, and the technology is a bit beyond the scope of this article.

But what isn't outside the scope of this article are IonQ's financials, which are incredible for a young company in a bleeding-edge field.

The company reported its Q1 2026 results on May 6 and recorded revenue growth of 755% over Q1 2025, marking the third quarter in a row of triple-digit year-over-year increases.

IonQ also reported net income of $804.6 million compared to a net loss of $32.25 million for Q1 2025. It's also the company's second profitable quarter in a row since first achieving profitability in Q4 2025.

Finally, the company has a very solid balance sheet with a total debt-to-equity ratio of 0.01, so we have a low-debt company with triple-digit year-over-year revenue growth that just achieved profitability and doesn't rely on the AI trade.

That sounds like a winner to me.

James Hires has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet and IonQ. The Motley Fool has a disclosure policy.