In this article, we will look at the 10 Best Performing Quantum Computing Stocks in 2025.
On November 12, Ray Harishankar, IBM Fellow at IBM Research, appeared on a CNBC interview to discuss how quantum computing is quickly transitioning towards daily use. Harishankar noted that the world has made immense progress in quantum technology in the last decade, compared to other times in history. He noted that one recent example of quantum computing progress occurred a few months ago when HSBC announced its use of IBM’s quantum computing to develop a quantum model for calculating bond derivatives. Notably, this model resulted in a 35% improvement in performance. Harishankar noted that this is just one incident among many others that suggest that quantum computing is real, already delivering results, and progressing every day.
He added that, in addition to HSBC, several other financial institutions, including Wells Fargo and Vanguard, have been experimenting with quantum computing to enhance their daily performance. Harishankar noted that they made the first quantum computer available at IBM Cloud in 2016. Since then, the company has deployed more than 80 quantum computers on the cloud, which are available for general use. In addition, the company has over 9 quantum computers deployed at specific client locations. Harishankar noted that currently, quantum computers experience certain errors or faults. He added that looking ahead, he expects the technology to be flawless and ready to use for daily business use by 2028 to 2029.
With that, let’s take a look at the 10 Best Performing Quantum Computing Stocks in 2025.
Our Methodology
To curate the list of 10 Best Performing Quantum Computing Stocks in 2025, we used Defiance Quantum ETF and rankings by other reputable financial media to aggregate a list of companies associated with the greater quantum industry. From this list, we shortlisted the stocks that have performed more than 30% year-to-date and are also popular among hedge funds. Lastly, we ranked the stocks in ascending order of the year-to-date performance. We have added the hedge fund sentiment around each stock sourced from Insider Monkey’s Q3 2025 database.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
10 Best Performing Quantum Computing Stocks in 2025
10. FormFactor, Inc. (NASDAQ:FORM)
Number of Hedge Fund Holders: 26
Year-to-Date Performance: 31.54%
FormFactor, Inc. (NASDAQ:FORM) is among the Best Performing Quantum Computing Stocks in 2025. On December 15, FormFactor, Inc. (NASDAQ:FORM) announced the acquisition of Keystone Photonics to expand its capabilities in silicon photonics and co-packaged optics, used in wafer testing.
Management noted that this is a strategic move to target the rising demand from the AI data center, which calls for faster data communication with lower power utilization. Keystone is a tech company that specializes in optical probing technology and has also been a long-term partner of FormFactor, Inc. (NASDAQ:FORM). The acquisition will help the company by complementing its probing automation for high-speed, accurate optical wafer testing.
According to the press release, management expects the silicon photonics to surge at a CAGR of 30% to 2029. This acquisition positions FormFactor, Inc. (NASDAQ:FORM) attractively to support SiPh and CPO manufacturers transitioning from labs to high-volume production. The financial terms of this deal were not disclosed by the company.
That said, Wall Street also maintains a positive outlook on the stock. On December 16, Christian Schwab from Craig-Hallum reiterated a Buy rating on the stock without disclosing any price targets. Earlier, on December 10, Craig Ellis from B. Riley Securities also reiterated a Buy rating on the stock and raised the price target from $66 to $78.
FormFactor, Inc. (NASDAQ:FORM) provides essential test and measurement technologies for the semiconductor lifecycle, from early research and design debugging to high-volume production testing. The company also offers a range of cryogenic test and measurement solutions to quantum engineers.
9. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 31.54%
Year-to-Date Performance: 36.37%
NVIDIA Corporation (NASDAQ:NVDA) is among the Best Performing Quantum Computing Stocks in 2025. On December 24, CNBC reported that NVIDIA Corporation (NASDAQ:NVDA) will be making its largest purchase ever from a startup called Groq. The report noted that the tech giant will be buying high-performance AI acceleration chips worth around $20 billion in cash from Groq.
The 9-year old chip startup, Groq, on Wednesday noted that it has entered into a non-definitive agreement with Nvidia. However, Simon Edwards, CEO of Groq, noted that they will continue to operate as an independent company. The report highlighted Nvidia CEO Jensen Huang said that this purchase will help the company expand its capabilities. He also noted that NVIDIA Corporation (NASDAQ:NVDA) plans to integrate Groq’s low-latency processors into the NVIDIA AI factory architecture.
Wall Street has a positive outlook on the stock after this unusual update from Nvidia. On December 26, Vivek Arya from Bank of America Securities reiterated a Buy rating on the stock with a $275 price target. On the same day, C J Muse from Cantor Fitzgerald also reiterated a Buy rating on the stock with a price target of $300.
NVIDIA Corporation (NASDAQ:NVDA) designs and sells specialized processors, initially for gaming but now also crucial for AI, data centers, professional visualization, and the automotive industry. It developed the graphics processing unit (GPU) and the CUDA parallel computing platform, which allows its GPUs to perform tasks beyond graphics.
8. International Business Machines Corporation (NYSE:IBM)
Number of Hedge Fund Holders: 66
Year-to-Date Performance: 38.47%
International Business Machines Corporation (NYSE:IBM) is among the Best Performing Quantum Computing Stocks in 2025. Wall Street has had a mixed opinion on the stock since the company announced its acquisition of Confluent on December 8.
International Business Machines Corporation (NYSE:IBM) noted acquiring Confluent to create smart data platforms for enterprise generative AI, in a deal worth roughly $11 billion. Management noted that together, the integrated company will enable enterprises to deploy generative and agentic AI better and faster.
Market reaction has been largely neutral as the share price has fallen only slightly by $1.52 since the release. However, analysts have differing views on the news. On December 9, Stifel maintained a Buy rating on the stock and raised the price target from $295 to $325. On the same day, UBS maintained its Sell rating on International Business Machines Corporation (NYSE:IBM) with a $210 price target.
Analysts at Stifel noted that the acquisition is a solid strategic move as the real-time data streaming is becoming increasingly important with AI. Moreover, the firm also noted that the company has historically achieved optimal leverage from such acquisitions.
On the other hand, analysts at UBS called the deal dilutive for the company. The firm added that the deal is expected to close by the end of 2026 and is expected to add only 2% to the company’s consolidated revenue growth. UBS projects that if IBM finances the deal using balance sheet cash and debt, the transaction is expected to add $385 million to the company’s interest expense by 2027. Therefore, suggesting the highly dilutive nature of the deal, UBS maintained a Sell rating.
International Business Machines Corporation (NYSE:IBM) has been tagged as one of the pioneers in the quantum computing industry, with its IBM Quantum System One regarded as one of the earliest efforts at quantum computing.
7. Nokia Oyj (NYSE:NOK)
Number of Hedge Fund Holders: 31
Year-to-Date Performance: 47.76%
Nokia Oyj (NYSE:NOK) is among the Best Performing Quantum Computing Stocks in 2025. On December 19, J.P. Morgan analyst Sandeep Deshpande maintained a Buy rating on the stock with a price target of €6.90. On the same day, Raymond James also reiterated a Buy rating on Nokia Oyj (NYSE:NOK) and raised the price target from $6.50 to $7.
Analysts at Raymond James noted that they based the bullish rating on the projected mid-single-digit sales growth for the company in 2026 and 2027. The firm added that one-third of this growth is expected to come from the company’s IP and Optical segments, which are currently growing by mid-teen percentages. Moreover, Raymond James believes that Nokia Oyj (NYSE:NOK) also has a “seat at the table” in the AI market, despite the company lacking the premium valuations of pure-plays like Ciena in optics or Arista in switching.
That said, earlier on December 4, Nokia Oyj (NYSE:NOK) announced its partnership with Bharti Airtel, which is India’s largest telecom operator, to make its network available to third-party developers through the company’s Network as Code platform with a developer portal. Management noted that the platform acts like an app store for networks, allowing developers to access Airtel’s infrastructure through APIs.
Nokia Oyj (NYSE:NOK) is a global telecom company focused on building the infrastructure behind mobile and fixed networks, including 5G, fiber, cloud, and data center solutions. The company’s quantum initiatives span four key areas including Quantum Security, Computing, Networks, and Sensing.
6. RTX Corporation (NYSE:RTX)
Number of Hedge Fund Holders: 76
Year-to-Date Performance: 60.66%
RTX Corporation (NYSE:RTX) is among the Best Performing Quantum Computing Stocks in 2025. On December 23, RTX Corporation (NYSE:RTX) announced that its Raytheon has been awarded a new contract from Spain to supply four Patriot air and missile defense systems. The contract is worth $1.7 billion.
Management noted that this makes the largest Patriot order, which also includes radars, launchers, command-and-control stations, and training equipment. Moreover, the company also collaborated with Spanish firms, including Sener, for GEM-T missile components as part of the company’s Patriot global supply chain network. Management also highlighted that Patriot is the foundational air defense system of 19 countries, and this order from Spain comes as Germany, the Netherlands, and Romania placed orders for the defense system earlier during the year. Recently, on December 19, Raytheon was awarded a $168 million contract to deliver Patriot air and missile defense systems to Romania.
In other news, on December 19, RTX Corporation’s (NYSE:RTX) Raytheon announced securing a contract from the US Air Force to install its PhantomStrike radar on the X-62A VISTA. X-62A VISTA is a testbed aircraft, which is used for autonomous flight testing with AI and machine learning integration. Management noted that PhantomStrike is a first-of-its-kind compact fire-control radar weighing under 150 pounds. The radar offers digital beamforming, multimode operations, and interleaved air/ground targeting at about half the cost of comparable radars.
That said, Wall Street is also bullish on RTX Corporation (NYSE:RTX). Recently, on December 19, Seth Seifman from J.P. Morgan reiterated a Buy rating on the stock and raised the price target from $195 to $200. Earlier, on December 12, John Godyn initiated the stock with a Buy rating and a $211 price target.
RTX Corporation operates through three segments, including Collins Aerospace, Pratt & Whitney, and Raytheon. Its quantum computing operations are led by RTX’s BBN Technologies, focus on developing quantum algorithms for optimization and physics simulations, quantum control with superconducting qubits, and quantum photonic sensors for enhanced precision in defense applications.
5. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 243
Year-to-Date Performance: 65.81%
Alphabet Inc. (NASDAQ:GOOGL) is among the Best Performing Quantum Computing Stocks in 2025. On December 22, announced the acquisition of Intersect for $4.75 billion in cash. Intersect provides data center and energy infrastructure solutions. Alphabet Inc. (NASDAQ:GOOGL) already owns a minority stake in the company due to a previous funding round.
Management noted that this strategic acquisition will allow more generation capacity for data centers to come online faster. Moreover, the transaction also includes the team of Intersect and multiple gigawatts of energy and data center projects in development. Management also highlighted that the company will operate separately from Alphabet Inc. (NASDAQ:GOOGL) under the Intersect brand and will be led by Sheldon Kimber. That said, the existing operating assets of Intersect in Texas and its operating and in-development assets in California are not part of this deal.
In other news, Wall Street is bullish on Alphabet Inc. (NASDAQ:GOOGL). Recently, on December 22, Ronald Josey from Citi reiterated a Buy rating on the stock and raised the price target from $343 to $350. Earlier on December 19, Scott Devitt from Wedbush also reiterated a Buy rating on the stock and raised the price target from $320 to $350.
Alphabet Inc. (NASDAQ:GOOGL) is a holding company with major segments including Google Services, Google Cloud, and Other Bets.
4. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 81
Year-to-Date Performance: 78.83%
Intel Corporation (NASDAQ:INTC) is among the Best Performing Quantum Computing Stocks in 2025. The share price of Intel Corporation (NASDAQ:INTC) fell around 3.54% on December 24, driven by Nvidia stopping the test run of Intel’s 18, which is a manufacturing process. The stock price has gained back 3.2% since the drop on Wednesday.
Intel’s 18 is a process that makes chip-making more efficient and faster. According to a report by Bloomberg released on the same day, the investors are mainly concerned because this process, which Nvidia has halted, was expected to help Intel Corporation (NASDAQ:INTC) compete with Taiwan Semiconductor Manufacturing Company. The news has raised concerns regarding the company’s ability to push forward in this competition. Moreover, this halt comes despite Nvidia’s $5 billion investment in Intel.
That said, Intel Corporation (NASDAQ:INTC) has gained around 80% year-to-date, surpassing the S&P 500 and Nvidia’s performance. Recently, on December 22, Bank of America Securities upgraded the credit rating of the company to Overweight from Market Weight. The firm noted that the company’s lower exposure to the AI demand cycle can act as a protection from the broader AI investment overheating concerns.
Moreover, the firm also raised its fiscal 2025 and 2026 EBITDA estimates by 20% and 18%. BofA sees the company’s leverage improving further in 2026, driven by improving balance sheets, strong AI-driven demand, and attractive valuation compared to its peers.
Intel Corporation (NASDAQ:INTC) designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Intel Products, Intel Foundry, and All Other segments.
3. Cloudflare, Inc. (NYSE:NET)
Number of Hedge Fund Holders: 63
Year-to-Date Performance: 80.08%
Cloudflare, Inc. (NYSE:NET) is among the Best Performing Quantum Computing Stocks in 2025. Cloudflare, Inc. (NYSE:NET) has gained more than 79.8% year-to-date, and Wall Street sees further upside with analysts’ 12-month price target reflecting more than 27.9% upside from the current level. On December 17, Gregg Moskowitz from Mizuho Securities reiterated a Buy rating on the stock with a price target of $280. On the same day, Stifel also reiterated a Buy rating on the stock without disclosing any price targets.
Analysts at Stifel noted that the bullish sentiment on the stock is based on the increased use of cybersecurity with the boom of AI. The firm added that increased use of AI has sparked the demand for protection against unauthorized use of data, data loss, and risks of AI output hallucinations. Stifel believes that this demand will improve further in 2026 as AI gains a more important role in the shape of agentic products. These trends are anticipated to help companies like Cloudflare, Inc. (NYSE:NET) improve their offerings and market share.
That said, Robert W. Braid had reiterated a Hold rating on the stock and raised the price target from $220 to $230 on the same day. The analyst noted that the company is well-placed for the emerging “answer economy” and the agentic web, where AI-driven interactions drive web traffic. The firm also believes in the company’s potential to act as a toll operator that monetizes AI traffic through its network. However, the firm cautioned that Cloudflare must preserve independence amid these dynamics.
Cloudflare, Inc. (NYSE:NET) is a cloud services provider that powers AI workloads through its Workers AI platform. Cloudflare also has initiatives to provide post-quantum cryptography service through its Zero Trust Network Access solution.
2. KLA Corporation (NASDAQ:KLAC)
Number of Hedge Fund Holders: 61
Year-to-Date Performance: 100.59%
KLA Corporation (NASDAQ:KLAC) is among the Best Performing Quantum Computing Stocks in 2025. KLA Corporation (NASDAQ:KLAC) is trading at an all-time high with the share price of $1,279.60 on December 26. This comes after impressive 100.59% year-to-date gains.
Wall Street is bullish ahead of the company’s fiscal Q2 2026 earnings, expected to be released on January 28. Analysts expect the company to post around $3.25 billion in revenue along with a GAAP EPS of $8.49. Recently, on December 19, Deutsche Bank reiterated a Hold rating on the stock without disclosing any price targets. Earlier, on December 16, Vivek Arya from Bank of America Securities reiterated a Buy rating on the stock and raised the price target from $1,400 to $1,450.
Arya of BofA noted that the US semiconductor stocks are attractively positioned for 2026. He sees 2026 as the halfway point of an 8-10 year-long cycle. Arya sees 2026 to be the year of faster IT upgradation, AI utilization, and AI workloads. He cautioned the investors regarding slight choppiness due to increased investor scrutiny on AI return on investment; however, this is expected to be offset by fast AI LLM builders and AI factories.
That said, on December 15, Blayne Curtis from Jefferies upgraded KLA Corporation (NASDAQ:KLAC) from Market Perform to Outperform with a $1,500 price target. The analyst believes that the company enjoys a significant edge on a stronger leading edge/packaging outlook. The firm also has a constructive outlook on the wafer fab equipment growth in 2026 and 2027.
KLA Corporation (NASDAQ:KLAC) designs, manufactures, and sells advanced process control equipment and services for the semiconductor and electronics industries, helping chipmakers find tiny defects, improve yields, and enhance quality in making logic chips, memory (like DRAM/NAND), LEDs, and more, essentially providing the high-tech tools to ensure flawless microchip production.
1. D-Wave Quantum Inc. (NYSE:QBTS)
Number of Hedge Fund Holders: 28
Year-to-Date Performance: 186.37%
D-Wave Quantum Inc. (NYSE:QBTS) is among the Best Performing Quantum Computing Stocks in 2025. D-Wave Quantum Inc. (NYSE:QBTS) rose more than 17% following the announcement to participate and showcase its quantum technology at CES 2026 on December 22. The gains were short-lived, and the share price closed at $25.29 at market close on December 26.
Management noted that as the sponsors of the CES Foundry, the company will attend the two-day event at Fontainebleau Las Vegas from January 7 to January 8. The company noted that they plan to showcase its award-winning annealing quantum computing technology. Moreover, the company also plans to showcase its hybrid quantum-classical solvers and real-world customer use cases that are demonstrating measurable performance benefits.
That said, Wall Street is bullish on the stock. Recently, on December 17, Antoine Legault from Wedbush initiated a Buy rating on the stock with a $35 price target. Earlier on December 15, Kevin Garrigan from Jefferies also initiated a Buy rating on D-Wave Quantum Inc. (NYSE:QBTS) with a $45 price target.
Analysts at Wedbush noted that quantum technology is still in a nascent stage. However, the firm sees it as a transformational technology with significant long-term potential. The firm added that quantum computing will be the next frontier of computing.
Wedbush believes that spending on quantum technology is expected to increase throughout 2030 as the technology matures. The firm added that they expect quantum stocks to benefit from the shift from research to commercial application, as it is expected to accelerate revenue growth over time.
D-Wave Quantum Inc. (NYSE:QBTS) develops and delivers quantum computing systems, software, and services, specializing in annealing quantum computers designed for business applications.
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