This Is the Quantum Computing Stock Billionaires Want to Own for 2026 (Even Warren Buffett) -- and It's Not IonQ, Rigetti Computing, or D-Wave Quantum

Core Insights - Quantum computing is gaining significant attention from investors, with an estimated addressable market of up to $850 billion by 2040, surpassing the hype surrounding artificial intelligence [3][6] - Several billionaire investors have shown interest in quantum computing stocks, particularly Alphabet, which has been added to the portfolios of multiple prominent asset managers [14][16] - Despite the excitement, pure-play quantum computing stocks like IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. face substantial risks, including high capital burn rates and unprofitable operations [10][20] Quantum Computing Market - Quantum computing stocks have seen substantial price increases, with some rising as much as 810% over the past year [2] - The technology is still in its early commercialization stages, and it may take years before quantum computers become a viable alternative to classical computers [9][10] - The excitement around quantum computing is driven by its potential applications in drug development, cybersecurity, and AI algorithm optimization [6][9] Institutional Investment Trends - Institutional investors with over $100 million in assets filed Form 13F, revealing their stock purchases during the September-ended quarter [5] - Notably, Warren Buffett and other billionaires have purchased shares of Alphabet, indicating a preference for established companies with quantum computing initiatives over pure-play stocks [14][16] Alphabet's Position - Alphabet is recognized as a leading player in quantum computing, with its quantum processing unit, Willow, demonstrating significant performance advantages [21][23] - The company has a strong financial foundation, closing September with $98.5 billion in cash and generating over $112 billion in cash flow in the first nine months of 2025 [22][23] - Alphabet's diverse revenue streams, including its dominance in internet search and growth in Google Cloud, provide stability while quantum computing technology matures [17][19][23]