IonQ also achieved high gate fidelities by surpassing 99.9% two-qubit gate fidelity on its barium platform, which leads to lower error rates. High gate fidelities will increase the reliability of quantum algorithms while lowering costs, eventually resulting in improved appeal for quantum computing technology for commercial use.

IonQ has demonstrated stronger commercial traction, with third-quarter 2024 revenue reaching $12.4 million, representing 102% year-over-year growth. The company secured $63.5 million in new bookings, including a landmark $54.5 million contract with the U.S. Air Force Research Lab to develop networked quantum systems.

D-WAVE QUANTUM QBTS shares have outperformed the Zacks Computer & Technology sector and its peers International Business Machines IBM and Rigetti Computing RGTI in the year-to-date period. While QBTS has surged 470.