Alphabet, IonQ, and D-Wave Quantum: The New AI Stocks to Watch
Investors in Palantir Technologies (NASDAQ: PLTR) may be eyeing other AI stocks, but a new area of focus is emerging: quantum computing. This technology is at an earlier stage than AI software, which means potential gains could be greater. Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), the parent company of Google, has impeccable quantum computing credentials and is one of the cheapest 'Magnificent Seven' stocks, with a forward earnings multiple of 23.
IonQ (NYSE: IONQ) is another promising pure-play quantum computing stock. Its revenue soared 287% year over year in Q2 2026 to $80.1 million, and it's the only vertically integrated full-stack quantum platform provider. Analysts are more excited about IonQ than they are about Palantir or D-Wave Quantum (NASDAQ: QBTS), with an average price target projecting a more than 70% increase over the next 12 months.
D-Wave Quantum, despite its recent underperformance and lack of revenue growth, offers a unique investment proposition as the only dual-platform quantum computing company. Analysts are optimistic about D-Wave's prospects, with 15 out of 17 surveyed by S&P Global (NYSE: SPGI) rating it as a 'buy' or 'strong buy.'