R&D spend by quantum computing companies:
Their R&D expenses in Q1 2026 vs Q1 2025 (in thousands):
$RGTI: $19,957 vs $15,455 (up 29%)
$XNDU: $17,348 vs $10,009 (up 73%)
$INFQ: $9,951 vs $5,167 (up 92%)
$QUBT: $6,969 vs $2,985 (up 133%)
$QBTS: $25,793 vs $10,288 (up 151%)
$IONQ: $125,740 vs $39,953 (up 215%)
$IONQ is the most aggressive in absolute spend and its growth. It can outinvest the entire industry.
It’s logical for it to be the main contender in the quantum race.