Quantum Computing Inc.: The Next Big Thing in Tech?

Quantum Computing Inc. (QCI) shares have soared over the last year, despite having almost no revenue. The company expects to ramp up production of its new photonic chip next year. While a comparison to Nvidia seems far-fetched, there is one key similarity: both companies have a focus on emerging technology with significant potential. QCI's photonic quantum computing approach differs from its peers, but the company aims to capitalize on growing demand for thin film lithium niobate photonic chips.

Quantum Computing Inc. (QCI) has seen its shares skyrocket over the past year, despite the company reporting almost no revenue. The company's stock has gained significant momentum following Alphabet's announcement that its Willow quantum chip had achieved a milestone in quantum computing, solving complex problems in minutes that would take traditional supercomputers 10 septillion years [1]. This breakthrough sparked a frenzy for quantum computing stocks, with QCI being one of the key beneficiaries. As of the latest data, QCI's stock has performed exceptionally well, making it the best-performing of the four quantum computing stocks over the past year [1].

QCI's stock performance can be partly attributed to its size. As the smallest of the four major quantum computing companies, it benefited from the same trend as its larger peers but jumped off a lower base. However, the company still has a low market cap of $3 billion and negligible revenue, with just $39,000 in revenue and an operating loss of $8.3 million in the first quarter of 2025 [1]. Despite these financial challenges, QCI has made significant strides in its photonic quantum computing approach, completing the construction of its Quantum Photonic Chip Foundry in Arizona [1]. This foundry is set to meet growing demand for thin film lithium niobate (TFLN) photonic chips, with management expecting revenue to begin to ramp up next year.

Comparing QCI to Nvidia is a stretch, given QCI's current financial status and lack of proven business model. However, the stock's performance has been remarkable, with a one-year total return of 2,485% [2]. This surge is partly due to the company's focus on emerging technology and its potential to disrupt traditional computing methods. The recent acquisition of 300,000 shares by the company's CFO, Christopher Bruce Roberts, also signals increased insider confidence in the company's prospects [2].

As QCI prepares to ramp up production of its photonic chips next year, investors will be closely watching the company's progress. If QCI can successfully meet the growing demand for its photonic chips and demonstrate sustainable revenue growth, it could take a significant step toward becoming a major player in the quantum computing industry. However, the company still faces significant challenges, including the need to prove the commercial viability of its technology and secure sustainable demand for its products.

References:
[1] https://finance.yahoo.com/news/quantum-computing-inc-next-nvidia-114500190.html
[2] https://www.nasdaq.com/articles/quantum-computing-cfo-granted-300000-qubt-options