Quantum computing is still a few years away from relevance.Quantum computing has gone through two boom-and-bust cycles in the past year. The first started in late 2024, then burst in January. Throughout 2025, quantum computing hype slowly increased before reaching highs previously seen in late 2024, then falling significantly in October and November.This boom-and-bust cycle shouldn't surprise quantum computing investors, as we're still a few years out from the technology becoming commercially viable. As a r ...

Core Insights - Quantum computing technology is still years away from being relevant, but it remains a significant area of interest for investors [1] - Investors are focusing on the wrong quantum computing stocks, with safer bets being larger companies like Alphabet, Microsoft, and Nvidia [1][8] Company Analysis - Alphabet and Microsoft have established cash flows that allow them to take a more measured approach to quantum computing, making them better investment choices compared to pure-play companies [2] - Both companies are not subject to the same hype risks as pure-play companies, as they only announce significant milestones in their quantum computing advancements [4][5] - Alphabet's recent achievement of running the first verifiable algorithm on its quantum computer demonstrates its competitive edge over traditional computing [5] - Microsoft has developed a custom quantum computing chip, Majorana 1, which could provide a significant advantage in scaling and solving enterprise-level problems [7] Industry Position - Nvidia, while not directly competing in quantum computing, is positioning itself to benefit from the technology through its NVQlink, which integrates quantum computing units with existing infrastructure [9][10] - The hybrid quantum computing approach enabled by Nvidia's technology allows it to maintain relevance in the evolving landscape while focusing on its core GPU business [12] - All three companies—Alphabet, Microsoft, and Nvidia—are funding their quantum computing initiatives through cash flows from unrelated businesses, ensuring proper financial backing for their aspirations in this sector [13]