Who's Racing to Build the Next Generation of Quantum Chips?

Quantum computing, once a theoretical concept, is rapidly becoming a tangible reality. Companies worldwide are fiercely competing to build the first fault-tolerant, scalable quantum computers. These machines promise to revolutionize fields like medicine, materials science, and artificial intelligence by solving problems currently intractable for even the most powerful supercomputers. This article explores the key players in this exciting race, highlighting their approaches, technologies, and recent developments.

The Landscape of Quantum Computing

Quantum computers harness the principles of quantum mechanics, such as superposition and entanglement, to perform calculations in ways that classical computers cannot. This allows them to tackle complex problems exponentially faster. However, building these machines is an incredibly challenging endeavor, requiring precise control over fragile quantum states. Different companies are exploring diverse technological approaches, each with its own set of advantages and disadvantages. The main technologies being pursued include:

• Superconducting Qubits: These qubits are based on superconducting circuits and are a leading technology, favored by companies such as IBM and Rigetti Computing.
• Trapped Ions: This approach uses individual ions, trapped and controlled by electromagnetic fields, to represent qubits. IonQ and Oxford Ionics are examples of companies using this method.
• Neutral Atoms: Neutral atoms trapped in optical lattices offer another promising route, with companies like Atom Computing and QuEra leading the way.
• Photonic Qubits: These qubits use photons (particles of light) to perform quantum computations. PsiQuantum and Xanadu are focusing on this technology.
• Quantum Annealing: This specialized approach, used by D-Wave, is optimized for solving optimization problems.

Key Players in the Quantum Chip Race

The following companies represent some of the most significant players in the quantum chip race, each with its unique strategy and technological focus. For more details on the companies leading this charge, see Quantum Chip Race: Key Players Building the Future.

Akhetonics

Akhetonics, a German photonics startup, is taking a contrarian approach by focusing on an all-optical, general-purpose chip. This bold approach and its first-principles methodology helped the company secure a €6 million seed funding round led by Matterwave Ventures in November 2024. This indicates growing investor confidence in the potential of their unique photonic approach to quantum computing.

Alice & Bob

Alice & Bob, a French startup, is working towards building a “fault-tolerant” quantum computer. They raised a substantial $104 million Series B round of funding in January 2025, demonstrating strong investor backing for their vision of creating reliable and scalable quantum machines.

Amazon

Amazon entered the quantum chip race in early 2025 with the introduction of Ocelot, developed in collaboration with the California Institute of Technology. While Ocelot is their first quantum chip, Amazon has already established a presence in the quantum computing space through AWS Braket, a cloud-based quantum computing service. Braket offers access to quantum computers from various providers, including D-Wave, IonQ, and Rigetti, allowing researchers and developers to experiment with different quantum hardware platforms.

Atom Computing

Atom Computing, a U.S. company, is building quantum computers using arrays of optically trapped neutral atoms. Their approach offers potential advantages in terms of qubit connectivity and scalability. At the Microsoft Ignite 2024 conference, Microsoft and Atom Computing announced plans to launch a commercial quantum computer in 2025, signifying a significant milestone in their development.

D-Wave

D-Wave, a pioneering quantum computing company, focuses on quantum annealing. Their latest flagship system, the Advantage2 prototype, uses quantum physics to find the lowest-energy arrangements, making it well-suited for solving specific optimization problems. Founded in 1999, D-Wave is a publicly traded company listed on the NYSE.

EeroQ

EeroQ, based in Illinois, is betting on helium for its quantum chip design. The company has received seed funding and regional public support, including a $1.1 million commitment in September 2024 to expand its Chicago headquarters. Their unique approach could lead to breakthroughs in quantum computing hardware.

Fujitsu and RIKEN

In April 2025, Fujitsu and the Japanese research institution RIKEN announced the development of a 256-qubit superconducting quantum computer at the RIKEN RQC-FUJITSU Collaboration Center. This represents a significant advancement from their previous 64-qubit iteration, demonstrating their progress in building more powerful quantum systems.

Google

Google continues to be a major player in the quantum computing arena. In December 2024, they unveiled Willow, their latest quantum computing chip. Google's claims about Willow's performance, including a major breakthrough in quantum error correction, have generated considerable excitement within the field. Hartmut Neven, Google Quantum AI founder, suggested that Willow’s performance lends “credence to the notion that quantum computation occurs in many parallel universes.”

IBM

IBM is at the forefront of quantum computing research and development. Their efforts include Condor, a superconducting chip designed for scaling up to 1,121 qubits, and Heron, a 156-qubit processor focused on improved performance and lower error rates. IBM's commitment to building both hardware and software infrastructure makes them a key competitor in the race.

Infleqtion

Infleqtion (formerly ColdQuanta) is a U.S.-based company developing quantum computers based on neutral atom technology. Their work contributes to the diverse landscape of quantum computing approaches, offering another path towards scalable and fault-tolerant quantum systems.

Intel

Intel is developing quantum computers based on silicon spin qubits. In June 2023, they unveiled Tunnel Falls, a 12-qubit research chip. Although a next-generation quantum chip based on Tunnel Falls was expected to be released in 2024, this has yet to happen.

IonQ

IonQ is a publicly listed U.S. company developing trapped-ion quantum computers. Their flagship product is the IonQ Forte. Their acquisition of Canadian networking specialist Entangled Networks after going public via a SPAC demonstrates their focus on providing complete quantum computing solutions.

IQM

IQM, a Finnish startup, is building superconducting quantum computers. They have secured significant funding from both public and private sources, including the European Investment Bank and the EIC Accelerator program. Their progress in developing superconducting hardware positions them as a notable player in the European quantum computing landscape.

Microsoft

Microsoft is actively involved in multiple quantum computing initiatives. In February 2025, they introduced Majorana, a quantum chip using a topological core architecture. Microsoft has previously stated their ambition to build a quantum supercomputer within ten years, demonstrating their long-term commitment to the field.

Oxford Ionics

Oxford Ionics, a British startup, focuses on trapped-ion quantum computing. They have secured significant funding and were selected for DARPA’s Quantum Benchmarking Initiative (QBI), highlighting the recognition of their progress in the field.

Pasqal

Pasqal, a French startup, is taking a full-stack approach to quantum computing, using neutral atoms. The company emerged out of the Institut d’Optique in 2019 and has attracted significant investment, including a €100 million Series B funding round in February 2023. Pasqal’s full-stack approach, encompassing hardware, software, and applications, could accelerate the practical application of quantum computing.

PsiQuantum

PsiQuantum is a quantum computing startup using photonics technology, with the ambitious goal of building a “1 million-quantum-bit machine.” In February 2025, they announced Omega, a quantum photonic chipset manufactured at GlobalFoundries. PsiQuantum has secured substantial funding, including a $450 million Series D investment led by BlackRock, which suggests significant investor confidence in their photonic approach.

Qilimanjaro

Qilimanjaro, a Spanish startup based in Barcelona, focuses on analog quantum app-specific integrated circuits (QASICs). They are also taking a full-stack approach, covering hardware, software, and applications. Their success in the Four Years From Now startup competition at Mobile World Congress in 2024 and subsequent funding from Catalonia underscores their potential.

Quandela

Quandela, a French startup, is dedicated to developing photonic quantum computers. They raised a €50 million Series B in funding in November 2023.