Key Points
IonQ is the leading quantum computing pure play.
Alphabet has nearly unlimited resources to develop a viable quantum computing chip.
Nvidia is bridging the gap between traditional and quantum computing.
The quantum computing space is really starting to heat up. Many of the top picks surged during September, leaving investors wondering if there's still room for these stocks to run during October and throughout the end of the year. I think there's a high likelihood of this occurring, as quantum computing is shaping up to be a huge theme in the market during 2026.
I've got three top quantum computing stocks investors will want to pick up during October, and they cover a broad range in the quantum computing industry.
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IonQ
IonQ (NYSE: IONQ) is one of the most popular quantum computing stocks on the market. It received a bit of fame by being the first quantum computing pure play to go public, and the stock has been a massive success. Since its IPO, it's up nearly 500%.
However, a large chunk of that performance has come recently, as it's starting to announce increased breakthroughs in quantum computing. Its most recent innovation, which it announced on Sept. 25, was meeting the milestone of #AQ 64, which means that the system is capable of 18 quintillion (2 to the 64th power) possibilities. This achievement brings IonQ one step closer to achieving commercial relevance, which it must do before it becomes a successful investment.
IonQ has a lot of hype building around the stock, but it's far from profitable, and its quarterly revenue only comes from research contracts. That could flip in the near future if a large-scale commercial client sees value in its technology over traditional computing methods. Most quantum computing companies point to 2030 as the date when that might occur. Still, if IonQ can continue innovating at this rate (it crossed the #AQ 36 milestone only nine months ago), quantum computing could become viable much sooner than that.
IonQ is a risky bet in the quantum computing space, but if it works out, it could make investors a ton of money.
Alphabet
Another quantum computing competitor is Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). Alphabet initially kicked off the quantum computing investment rush last December when it announced that its Willow quantum computing chip had completed a task that would have taken the world's most powerful supercomputer 10 septillion (10 to the 25th power) years to complete.
Quantum computing is an incredibly important technology for Alphabet to develop, as it would allow Alphabet to increase the profitability of its cloud computing division. Currently, Alphabet purchases computing units from a few vendors, which means it must pay for that company's profits. If Alphabet develops in-house quantum computing capabilities and doesn't need to purchase computing units from a supplier like IonQ, it will become far more profitable.
Even if Alphabet doesn't win the quantum computing race and must continue buying quantum computing units from a supplier like IonQ, most quantum computing usage will likely come over the cloud, which will boost Google Cloud's revenue.
This makes Alphabet a win-win investment in the quantum computing realm, and with Alphabet's massive resources, I'm willing to bet it will develop a viable quantum computing device internally.
Nvidia
Lastly, there is Nvidia (NASDAQ: NVDA), which currently makes the most powerful computing units that utilize traditional computing methods. Its graphics processing units (GPUs) are best in class, and there are countless GPUs in service today, training and operating AI models. Replacing the existing computing infrastructure with a quantum-based one isn't possible, and the best use for quantum computing appears to be deploying it in traditional computing scenarios in a hybrid approach.
Nvidia is working to bridge the gap in that hybrid computing architecture, adopting its leading CUDA software to quantum and renaming it as CUDA-Q. By ensuring that its GPUs will be used alongside quantum processing units in a hybrid approach, Nvidia will cement its role in the next phase of computing, allowing it to continue its dominance.
An investment in Nvidia allows quantum computing investors to bridge the gap between what's currently popular and what may be popular in five to ten years. However, if quantum computing turns out to be a flop, then Nvidia's GPUs will still be the most powerful computing unit available, making the stock a must-own for the foreseeable future.
Should you invest $1,000 in IonQ right now?
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Keithen Drury has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet and Nvidia. The Motley Fool has a disclosure policy.
