After merging with the SPAC (special-purpose acquisition company) dMY Technology Group III in 2021, Maryland-based IonQ Inc (ticker: IONQ) became¹ the world’s first publicly-traded quantum computing firm. Since its listing, investors fixation is centered around the fact that the stock is one of a handful that gives any significant exposure to the ground-breaking potential inherent within quantum computing.

Currently, computing is limited to having a single value of either 0 or 1 for each “bit” of logic used for solving a problem. Therefore, solving for a solution being true or not is a sequential process for each “bit”. Quantum computing uses quantum bits (“qubits”) that are simultaneously in both states (0 and 1) at the same time, thus enabling every solution of a problem to be tested at once. Also, computing power is estimated to expand exponentially with every additional qubit. Quantum computing is estimated to have an explosive impact in problems such as training AI models more efficiently, simulating otherwise hard-to-model chemical reactions, and quickly solving complex logistics problems.

In 2015, Gartner estimated in its periodically-reviewed “Emerging Technology Hype Cycle” that quantum computing was in its “Innovation Trigger” phase, i.e. investor and adopter interest is high, with mainstream adoption more than 10 years away.