Market snapshot · September 18, 2026 close
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AEACapital Research

Independent student research — not an investment firm or financial advice

Competitive Comparison

IonQ vs. Rigetti Computing

A watchlist comparison of two publicly traded quantum-computing companies pursuing different hardware approaches — trapped-ion versus superconducting qubits.

MetricIonQ (IONQ)Rigetti Computing (RGTI)
PEG ratioN/A (unprofitable, TTM loss)N/A (unprofitable, negative earnings)
TTM figuresRevenue $246.47M; net loss $1.36B; EPS −$3.99Not disclosed; EV/EBITDA not available
Market cap$14.90B$4.7–11.4B (varies)

Market cap, compared

IONQ
$14.90B
RGTI
~$7.8B (midpoint)

Same Market cap figures as the table above, plotted for a direct read. Bold = held in this book.

Market cap, P/E, PEG, EV/EBITDA, and capex sourced via public filings and financial-data aggregators (GuruFocus, StockAnalysis, company earnings releases), as of August 2026. PEG ratio sourced primarily from GuruFocus where available; different providers use different growth-rate assumptions, so figures elsewhere for the same stock can vary by several multiples. Gold-highlighted column(s) indicate the name(s) actually held in this book.

Why neither is in the book

IonQ uses trapped-ion qubit technology; Rigetti uses superconducting qubits — a genuine technical fork in how each company is trying to get to fault-tolerant quantum computing, with no consensus yet on which approach wins long-term. Both are pre-commercial-scale, deeply unprofitable businesses priced almost entirely on the size of the eventual quantum-computing market rather than current financials, which is exactly the kind of thesis I don't have enough conviction to underwrite yet. Both stay on the watchlist rather than the book until there's a clearer technical or commercial signal from either company.