David Prince
US Equity/Options Fund Manager, Mentor at T3 Live
Quantinuum's market value relative to sales is not low, but against many poor-quality quantum names it made sense below $60. In this market, P/E and P/S valuations matter only so much: they drive stocks mainly in climates such as rate-hike cycles. Investors fixated on Nvidia being cheap at 21x earnings have missed moves in Marvell and Intel, while software multiples contracted despite claims of cheapness as the future grew less secure. x.comÂ
Quantum computing stocks such as IonQ, Rigetti, Quantum Computing Inc, Arqit, SEALSQ, BTQ and HQ could catch a bid around Quantinuum's IPO. Quantinuum is raising about $1.46 billion at a roughly $14 billion valuation, the first traditional IPO of a full-stack quantum company, anchored by long-only demand. Big IPOs reprice whole sectors as allocators who missed the deal seek liquid exposure, as with Cerebras and SpaceX. The driver is positioning, not fundamentals, so these are very risky trades. … Show more
Quantinuum's IPO will show the market how far IonQ, Rigetti and D-Wave lag on logical qubits, the metric that matters for fault-tolerant computing, and that gap will soon be priced. Quantinuum has 48 logical qubits on Helios versus zero or few at the listed names. The IPO crowns the fault-tolerance leader, not the sector winner: IonQ pursues vertical integration across networking, security and defense, Rigetti bets on superconducting scale, and all must turn capability into revenue. x.comÂ
Quantinuum's IPO adds yet another ridiculously valued company to the quantum sector rather than changing its dynamics. Comparing these companies on technology or business model is like counting angels on a pin. Even Infleqtion trades at 100x revenue and loses a dollar for every dollar of revenue it makes. x.comÂ
D-Wave Quantum is hard to justify as a $7B company trading at 50x 2028 sales in a highly speculative industry, and its CFO is resigning. x.comÂ
Quantum computing stocks D-Wave Quantum, Rigetti and Infleqtion now trade on fiscal support rather than technology: in May 2026 the US government put about $2 billion into the sector and took equity stakes as a condition, sending the three up roughly 30-33% in a day. Positions should be sized like lottery tickets. x.comÂ
Quantinuum's valuation is a stretch after its IPO debut jump. More than $15 billion of market value rests on just $79 million in bookings, even as the quantum era approaches. x.comÂ
Quantum computing is where AI was in early 2023: 2026 made it a real investable sector, and the early window closes once most investors learn the landscape. Three quantum IPOs have landed, Quantinuum filed targeting a $20B valuation, and McKinsey sees a $100B market within a decade. Broad quantum exposure is the safe play. IonQ is among the most promising, the closest thing to a quantum blue chip: $130M of 2025 revenue, $225-245M guided for 2026, and a SkyWater deal to own manufacturing. x.com … Show more
Horizon Quantum remains under the radar, with daily volume yet to reach 1M shares while quantum peers such as IonQ and Rigetti keep showing strength, so market discovery is a matter of time. It works with quantum hardware companies such as IonQ. x.comÂ
Quantinuum looks expensive against its sales at $48.73. It trades at 101x sales and 38x next year's, while software companies usually get 5x. Fair value is $36.21 to $46.09, about 5x next year's sales give or take 12%, with a pullback level at $40.40. This is a levels-only view based on reported earnings and revenue estimates, with no fundamental work. x.comÂ
Quantum computing stocks D-Wave and IonQ show strong demand after the US pledged funding, with large high-volume buying in D-Wave. D-Wave has clear relative strength in the sector, with IonQ leading the charge. A move above $31.55 would break D-Wave out of its inside week and daily consolidation, and its all-time high could be broken fast. x.comÂ
