Could IonQ Be Your Ticket to Becoming a Millionaire by 2030?

At the beginning of the 21st century, it was hard to imagine that soon everyone would have powerful computers right in their pockets. These devices could help them with everything from sending messages to making payments and searching for information on the internet.

Then in 2007, Apple introduced the iPhone. Today, many people are considering how artificial intelligence (AI) may change industries and every aspect of our lives. One groundbreaking shift could come from quantum computing, which uses AI to handle complex tasks and calculations that traditional computers cannot manage.

One player in the quantum computing space is IonQ (IONQ -1.57%). This innovative company could be a pathway to wealth for investors by 2030.

An ambitious company facing hurdles

IonQ believes that quantum computing has the potential to transform the world. The company is particularly focused on applications in chemistry, finance, and optimization—areas where complex scenarios must be evaluated to determine the best outcomes.

IonQ has already made significant strides towards creating commercial quantum computers. According to its 2024 annual report, it now offers quantum computing hardware and access to various quantum systems through platforms like Amazon's Amazon Web Services, Microsoft’s Azure Quantum, and Google’s Cloud Marketplace. They also provide access via their own cloud service.

The technology used by IonQ involves trapping qubits in a vacuum. Qubits are like advanced bits that represent the smallest data units in computing, with eight bits making up a byte. IonQ employs lasers to manipulate these qubits, allowing them to perform calculations and simulations with greater accuracy than previous quantum computers. Their systems have demonstrated the ability to consider over 68 billion different scenarios simultaneously, showcasing impressive technological advancement and partnerships with major cloud companies.

Nevertheless, there are still significant challenges ahead in perfecting this technology. Most experts agree that widespread use of quantum computing is still several years away. Additionally, IonQ's financials show that while its revenue surged to over $31 million in the first nine months of 2024, the company also reported losses exceeding $129 million. However, they have secured important contracts, such as a $54.5 million deal with the U.S. Air Force Research Lab in the third quarter.

In a statement from early January, CEO Peter Chapman expressed optimism about the business's progress and projected revenues could reach $1 billion by 2030.

Competition is also on the horizon. Google has announced plans to launch quantum computing applications on a commercial scale in the next five years. Other tech giants, including Intel, Amazon, and IBM, are also exploring quantum computing.

Does IonQ hold the key to your millionaire dreams by 2030?

If IonQ can successfully bring quantum computers into homes across the United States and beyond, its stock could perform exceptionally well, given it’s currently positioned as an early mover in this space. However, investing in a company still operating at a significant loss presents considerable risks—especially with a market cap that has already reached $7.5 billion. While the potential for quantum computing exists and could lead to millionaire status, many variables could influence outcomes in the coming years. Investors should proceed cautiously and size their investments appropriately.

John Mackey, former CEO of Whole Foods Market, is a member of the board at The Motley Fool. Suzanne Frey, an executive at Alphabet, is also on the board. Bram Berkowitz does not hold positions in any mentioned stocks. The Motley Fool has interests in and recommends Alphabet, Amazon, Apple, Intel, and IBM.

Quantum, Investing, Technology