2025 year in review: Quantum computing development accelerates

Quantum computing hogged the headlines in 2025 and it was ok to say it was the year of quantum--or maybe qubits--after just a few months. The quantum computing developments were flying, but it's worth noting that we're years away from big commercial adoption.

Nevertheless, CxOs need to get ready. After all, the boardroom is getting tired of AI. The AI trade lost steam. Boardrooms are going to start asking about your quantum computing plans in 3, 2, 1.

Why was 2025 the year of quantum? For starters, there was a new development almost weekly. Pure play quantum stocks were hot. Hyperscale cloud players were deadly serious about quantum, with AWS, Microsoft Azure and Google Cloud all running credible efforts. Quantinuum threaded the needle between AI and quantum computing. IBM scaled aggressively. And real use cases emerged as companies like IonQ cited projects with DARPA, AstraZeneca, and others.

Here's what's happened in 2025.

January

• Nvidia CEO Jensen Huang said quantum computing is 15- to 30-years away from being really useful. Those comments landed at CES 2025 and came up because quantum computing stocks had a torrid run at the end of 2024 as quantum became more practical, focused on hybrid HPC architectures and Google Cloud touted a new quantum chip called Willow.
• Quantum vendors have tried to prove Huang wrong since he made those comments. Days after Huang’s comments the pure plays such as IonQ and D-Wave all cited commercial projects.
• Microsoft launched its Quantum Ready Initiative, which helps enterprises sort out use cases for quantum computing and get ready to deploy.
• IonQ, University of Maryland and State of Maryland announced a $1 billion investment to create the "Capital of Quantum." Under the initiative, IonQ will be an anchor partner as it continues to pursue federal government contracts. IonQ at the University of Maryland's Discovery District, which is near Washington, DC and Annapolis, MD.
• D-Wave said it will expand distribution of its quantum computing offerings via a partnership with Carahsoft, which is a premier distributor of IT to the government. Under the deal, Carahsoft will aggregate D-Wave's offerings as a reseller. The partnership will give D-Wave throughput under Carahsoft's contract vehicles.

February

• Quantinuum launched its Generative Quantum AI framework that aims to combine AI, quantum computing and supercomputers to address problems classical computing can't solve.
• Microsoft launched Majorana 1, a quantum computing chip with a Topological Core architecture. Topological quantum computing uses a concept similar to semiconductors using "anyons," which can arrange qubits into patterns. A topological superconductor is a material that can create a new state of matter. It's harnessed to create a more stable qubit that can be digitally controlled.
• IonQ is doubling down on quantum networking with an acquisition, diversifying globally and has a new CEO along with fourth quarter results and plans to raise more capital. The purchase of ID Quantique gives IonQ more quantum networking patents and diversifies the company's global footprint with expansion in South Korea. In November, IonQ bought Quibitekk. IonQ named Niccolo de Masi CEO, with Peter Chapman becoming Executive Chair. Chapman will focus on strategy and enterprise adoption.
• Amazon Web Services launched Ocelot, a first-generation quantum computing chip that was developed with the California Institute of Technology.
• And for good measure, Constellation Research updated its quantum computing shortlists. Constellation ShortList™ Quantum Computing Platforms | Quantum Computing Software Platforms | Quantum Full Stack Players
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March

• D-Wave said its quantum computer outperformed a classical supercomputer in solving magnetic materials simulation problems. The company also reported its fourth quarter results. D-Wave followed up with a quantum blockchain architecture.
• Nvidia CEO Jensen Huang at Nvidia GTC 2025 hosted the company’s first quantum day. A panel that featured most of the quantum computing CEOs amounted to a mea culpa tour following Huang’s comments in January.
• Quantinuum quantum computers have created true verifiable randomness in a project that could be valuable to cybersecurity. In a paper in Nature, Quantinuum along with JPMorganChase, Oak Ridge National Laboratory, Argonne National Laboratory and the University of Texas have generated true randomness critical to cryptography and cybersecurity. Quantinuum said the latest advance was built on research from Shih-Han Hung and Scott Aaronson of the University of Texas at Austin.
• IonQ and Ansys said they also outperformed classical computing when designing medical devices. IonQ also expanded its quantum networking portfolio and raised more than $372 million via an equity offering.
• Classiq said it worked with Sumitomo Corp. and Mizuho-DL Financial Technology to successfully compress quantum circuits in implementing quantum algorithms for Monte Carlo simulations.
• Rigetti Computing and Quanta Computer said they will spend a combined $500 million to accelerate development and commercialization of superconducting quantum computing. The company also reported fourth quarter revenue of $2.27 million and 2024 revenue of $10.79 million. The net loss for 2024 was $200.99 million.

April

• IBM said it will spend $30 billion in R&D in the US as part of a broader $150 billion spend. That R&D in part will be devoted to quantum computing. IBM CEO Arvind Krishna said on the company’s first quarter earnings call: "In Quantum, we are proud to partner with the Basque Government to deploy Europe's first IBM Quantum System 2 in Spain, a milestone in global Quantum leadership." IBM also published a paper on how quantum addresses problems in combinatorial optimization.
• IonQ moved to expand its reach. It established a quantum computing and networking hub in Chattanooga, Tennessee in a $22 million deal. The company also outlined an agreement with Toyota Tsusho and AIST to expand quantum computer reach in Japan. IonQ also signed a memorandum of understanding with Intellian to extend into South Korea. IonQ also said its Forte Enterprise system is available through Amazon Braket.
• D-Wave and Davidson Technologies, a defense technology company, assembled D-Wave's Advantage2 annealing quantum system at Davidson's Huntsville, Alabama headquarters.
• Classiq, a quantum software development company, and Wolfram Research joined CERN’s Open Quantum Institute (OQI). The two companies will target quantum-based technologies to optimize electrical networks.
• Researchers at Tokyo University of Science, Japan unveiled DSAPS, a chip system that overcomes capacity and precision limits with dual scalable annealing processors.
• U.S. Defense Advanced Research Projects Agency’s (DARPA) Quantum Benchmarking Initiative (QBI) selected host of companies to evaluate a variety of technologies for creating quantum bits. The companies include: Alice & Bob, Atlantic Quantum, Atom Computing, Diraq, Hewlett Packard Enterprise, IBM, IonQ, Nord Quantique, Oxford Ionics, Photonic Inc., Quantinuum, Quantum Motion, QuEra Computing, Rigetti Computing, Silicon Quantum Computing Pty. Ltd. and Xanadu.

May

• IonQ went shopping again with the acquisitions of Lightsynq Technologies, a startup focused on photonic interconnects and quantum memory, and Capella Space, which specializes in quantum space networks. See: IonQ’s plan: Quantum networks extending into space
• IBM launched a Flex Plan for access to its quantum computing hardware in a move that aims to expand access for organizations, enterprises and researchers who want access without monthly limits. The IBM Quantum Flex Plan provides access on day one with an entry point of $30,000+ to gain access to Big Blue's entire fleet of quantum systems. Flex plan users will also get the advanced software features, support and early access to new releases.
• Classiq, a quantum computing software company, said it raised $110 million in Series C funding. The company is looking to build the software stack for quantum computing. The funding, led by Entrée Capital and a bevy of other investors, will be used to build Classiq's go-to-market, customer success and R&D teams globally.
• D-Wave Quantum said its Advantage2 annealing quantum computer is now commercially available and is likely to contribute to revenue growth. Advantage2 is available via D-Wave's Leap quantum cloud service as well as on-premises deployments. Dr. Alan Baratz, CEO of D-Wave, said the system is a milestone in the company's development and able to "solve hard problems outside the reach of one of the world’s largest exascale GPU-based classical supercomputers."
• Cisco is entering the quantum computing networking ring with a lab and prototype processor. The move is notable since Cisco is a networking giant in the enterprise. In addition, quantum networking has been seen as a key piece of infrastructure.

June

• IonQ said it will acquire UK's Oxford Ionics in a deal valued at $1.075 billion in mostly stock and $10 million in cash. The deal is designed to accelerate IonQ's quantum computing roadmap and establish a global hub for research and development.
• Quantum Computing Inc. raised $200 million with an At-the-Market equity offering.
• IBM and Riken, a national research laboratory in Japan, unveiled the first IBM Quantum System Two ever to be deployed outside of US. The quantum computer will be co-located with Riken's supercomputer Fugaku.
• Rigetti completed a $350 million At-the-Market equity offering.
• IBM updated its quantum computing roadmap heading into IBM Quantum Starling, a large-scale fault-tolerant quantum system in 2029. Big Blue said IBM Quantum Starling will be delivered by 2029 and installed at the IBM Quantum Data Center in Poughkeepsie, New York. That system is expected to perform 20,000 times ore operations than today's quantum computers.

July

• D-Wave raised $400 million with an At-the-Market equity offering. The move left D-Wave with about $815 million in cash. D-Wave also outlined a strategic development effort to advance cryogenic packaging.

August

• D-Wave released a collection of developer tools for quantum AI and machine learning.
• Rigetti Computing said its 36-qubit multi-chip quantum computer is generally available and outlined a plan to build a 100-qubit system with 99.5% fidelity by the end of 2025, but quantum advantage is likely 4 years away. Second quarter results fell short of estimates.
• IonQ, which has been on an acquisition spree, reported second quarter results with a net loss of $177.5 million on revenue of $20.7 million. IonQ had $1.6 billion of pro forma cash and equivalents as of July 9. IonQ also filled out its leadership team with David Chung as VP, Corporate Development; Shad Reed as VP, Engineering Public Sector; Petrina Zaraszczak as VP, Business Operations & Integration; and Sterling Zumbrunn as VP, Product Management Networking.
• IBM, AMD eye hybrid quantum computing, supercomputer architectures.
• Microsoft rolls out quantum safe plan, timelines.
• Quantinuum fleshes out quantum software stack with open source Guppy, Selene.

September

• Quantum networking coming into focus with IonQ and Cisco playing roles.
• Microsoft said it will build quantum center in Maryland.
• Rigetti said it landed two orders for quantum computing systems for $5.7 million. Rigetti also announced a $5.8 million AFRL contract with QphoX.
• Quantum Computing closed a private placement of common stock to raise $500 million.
• IonQ announced purchase of Vector Atomic, completed the Oxford Ionics acquisition and inked a US Department of Energy memorandum of understanding to deploy quantum technology in space.
• IonQ launched a federal unit to focus on US government use cases. The company also named Inder M. Singh as Chief Financial Officer and Chief Operating Officer.
• SPACs are back as Horizon Quantum said it would go public via a merger with dMY Squared Technology Group.

October

• Quantum computing companies, often with minimal or no revenue, raise funds at a brisk pace to fortify balance sheets. Raise money when you don't need to is a good motto for CFOs to have. Even after a recent pullback Rigetti shares are up 200% on the year and IonQ is up 50%. D-Wave is up 356%. 
• Swiss Quantum Technology inked a €10 million to deploy D-Wave's Advantage2 system.
• The Basque Government and IBM launched Europe's first IBM Quantum System Two in Donostia-San Sebastián.
• IonQ priced a $2 billion equity offering to fortify its balance sheet following a run-up. IonQ also completed its acquisition of Vector Atomic.
• Arqit Quantum said its second quarter revenue wil be $460,000 to $470,000 with fiscal 2025 revenue of $525,000 to $535,000. The company had $36.9 million in cash.
• Quantum Computing announced a private placement of common stock to raise $750 million.
• Google said its Willow quantum computing chip has achieved quantum advantage. Google's breakthrough hit pure play quantum computing companies.

November

• Quantinuum launches Helios quantum computer, touts fidelity, enterprise customers
• IBM outlined its roadmap and launched its Nighthawk quantum processor. Big Blue also partnered with Cisco on quantum networking.
• IonQ, Rigetti, and D-Wave reported earnings as the pure plays continue to battle the giants.
• IonQ named Scott Millard Chief Business Officer and acquired Skyloom Global.

December

• IonQ and KiSTI finalized plans to bring a 100-qubit quantum system to South Korea.
• D-Wave said it will outline its commercial quantum plans at CES 2026.
• Quantum Computing Inc. named Dr. Yuping Huang CEO and acquired Luminar’s photonics business for $110 million.
• D-Wave launched a US government unit.

What now?

One thing worth noting here is that 2025 became the year of quantum readiness and development rather than deployment. That said, CxOs need to start thinking about quantum. Constellation Research analyst Holger Mueller broke down how you should be thinking about the year of quantum.

• If you need to protect IP against state actors, you should deploy quantum key encryption today.
• If you have smaller planning and simulation issues in your business, get your pilot going.
• If you are on process manufacturing, chemical, pharma etc. - you must have quantum pilots. You likely have them on annealing and laser gate already but need to keep an eye on all super conducting players.
• Everybody else can sit back and get the popcorn, but keep an eye on medium-scale planning and simulation use cases. All enterprises have those. On the tech side, watch stabilization, componentization and then scale loop. IBM is the most advanced and learn from their process.