To The Moon

According to a McKinsey report, the chemical, life sciences, finance and mobility industries will be the first to benefit from quantum computing, with the market expected to grow to $2 trillion over the next 11 years.

Jon DuPrau, managing partner of Quantum Portfolio Management, said that even with the strong growth momentum, quantum computing is still in its infancy, and significant investment is needed in technology research and development.

Fortunately, AI's efficiency gains could spur investment in quantum computing. In the coming years, the demand for data storage and cloud computing will increase significantly, which will attract more companies to enter the quantum computing space.

Here are seven diverse yet promising U.S. stocks poised to ride the quantum computing wave:

1. $Honeywell(HON)$

Though known as a traditional manufacturer in the industrial sector, Honeywell teamed up with Cambridge Quantum to form Quantinuum, aiming to integrate quantum information systems across industries like pharma, chemicals, finance, aerospace, defense, oil & gas, data centers, manufacturing, and telecom.

In addition, Honeywell's System Model H1 quantum computer has been made available to enterprise users.

2. $Microsoft(MSFT)$

The tech giant's Azure cloud platform offers quantum computing capabilities for research in environmental science, agriculture, health, energy, climate, and materials. It also provides extensive quantum computing education resources.

In April, Microsoft and Honeywell's Quantinuum announced the development of algorithms that can reduce quantum computing errors.

3. $FormFactor(FORM)$

Semiconductor equipment manufacturer FormFactor is involved in cryogenic systems.

One of the challenges in commercializing quantum computing is maintaining the low temperatures required for proper operation of quantum devices, and FormFactor offers freezer-free dilution chillers (DR), cryogenic cooling probe systems, cryogenic testing services, and integrated measurement solutions to accelerate quantum computing research.

4. $IONQ Inc.(IONQ)$

IonQ, a Maryland-based quantum computing company that went public in 2021, currently has a market cap of only about $1.8 billion and is not yet profitable.

However, one of the company's major competitive advantages is that it has the most mature room temperature quantum computer development, marking an important step toward commercializing quantum computers.

5. $IBM(IBM)$

The technology services giant, operates Qiskit Runtime, a Quantum computing and programming model, and Quantum Network, a collaborative network designed to advance quantum computing and quantum technology.

IBM's quantum computing development is also in the early stages, and this line of business is unlikely to be a significant growth driver in the near term. Recently, the company teamed up with Rensselaer Polytechnic Institute to develop a quantum computing system.

6. $Alphabet(GOOG)$ $Alphabet(GOOGL)$

Alphabet has been developing its own chips for artificial intelligence and other cloud computing applications, which also include quantum computing chips.

Google and the XPRIZE Foundation have launched a $5 million competition to find practical applications for quantum computers, such as solving current problems in areas such as climate, sustainability and health.

7. $NVIDIA Corp(NVDA)$

Nvidia's strength lies in the accumulated capabilities of GPU AI innovations, which can now be applied to quantum computing.

In May, the company announced partnerships with supercomputing centers in Germany, Japan and Poland to open up access to the open-source Cuda-Q platform. The platform integrates quantum processing units (QPUs), GPUs, and CPUs into one system.