Who Will Win the Race to Build the Ultimate Quantum Chip?
The pursuit of powerful quantum computers is one of the most exciting and challenging endeavors in modern technology. At the heart of this revolution lies the quantum chip, the complex core responsible for manipulating qubits and performing calculations that are impossible for even the most powerful classical computers. Building these chips requires mastering exotic physics and engineering at the atomic scale, utilizing technologies ranging from superconducting circuits and trapped ions to neutral atoms and photons.
As the field of quantum computing matures, a diverse ecosystem of companies and research institutions is emerging, each betting on different approaches to unlock the full potential of quantum hardware. From well-established tech giants to nimble startups, the race is on to build the most stable, scalable, and powerful quantum processors. Here, we look at some of the key players currently pushing the boundaries of quantum chip development.
Key Players in the Quantum Chip Development Race
The landscape of quantum chip development is rich and varied, with organizations worldwide contributing unique approaches and significant investments. Let's explore some of the notable entities making waves in this competitive arena.
Akhetonics
Based in Germany, Akhetonics is a photonics startup taking a notably contrarian stance in the quantum chip race. While many focus on narrower applications, Akhetonics is dedicated to building an all-optical, general-purpose quantum chip. This ambitious vision and their fundamental, first-principles approach attracted significant early support, culminating in a €6 million seed funding round led by Matterwave Ventures in November 2024. Their focus on photonics offers a different pathway compared to superconducting or atomic methods.
Alice & Bob
Hailing from France, Alice & Bob is a startup specifically targeting one of quantum computing's biggest hurdles: fault tolerance. Their efforts are concentrated on developing chips and systems capable of inherently reducing errors, a crucial step for building truly useful quantum computers. Their progress and focus were validated by a substantial $104 million Series B funding round raised in January 2025, providing significant resources to continue their pursuit of fault-tolerant quantum computing.
Amazon
The e-commerce and cloud giant Amazon officially threw its hat into the quantum chip ring in early 2025. Through its cloud division, AWS, the company introduced Ocelot, a quantum chip developed in partnership with the California Institute of Technology. While Ocelot represents Amazon's first foray into proprietary quantum hardware, AWS was already a significant player in the quantum computing ecosystem, having previously launched Braket, a quantum computing service offering access to hardware from partners like D-Wave, IonQ, Rigetti, and others. Their entry with Ocelot signals a deeper commitment to the underlying technology.
Atom Computing
Atom Computing is a U.S. company that employs neutral atoms as the basis for their quantum computers. Their approach involves arranging arrays of optically trapped neutral atoms to form qubits. This technology is gaining traction as a promising path towards scalable systems. A significant development occurred at the Microsoft Ignite 2024 conference, where Microsoft and Atom Computing announced collaborative plans to launch a commercial quantum computer utilizing this neutral atom technology in 2025.
D-Wave
A veteran in the quantum computing space, D-Wave was founded in 1999 as a spinoff from the University of British Columbia in Canada. Now a public company listed on the NYSE, D-Wave is known for its focus on quantum annealing rather than universal fault-tolerant quantum computing. Their latest flagship system, the Advantage2 prototype, leverages quantum annealing, a process that uses quantum physics to find optimal solutions by settling into the lowest energy state. This approach is particularly suited for optimization and sampling problems.
EeroQ
Based in Illinois, EeroQ is a startup exploring a unique material for its quantum chip design: helium. Betting on helium as a substrate for electron qubits, the company has been steadily building its capabilities. Following a $7.25 million seed funding round in 2022 and receiving regional public support, EeroQ demonstrated its commitment to growth with a $1.1 million investment in September 2024 towards expanding its headquarters located in Chicago’s Humboldt Park. Their helium-based approach offers a distinct pathway in the diverse quantum hardware landscape.
Fujitsu and RIKEN
A significant collaboration between industry and academia is seen with Fujitsu and the Japanese research institution RIKEN. Working together at the RIKEN RQC-FUJITSU Collaboration Center, they have made substantial progress in superconducting quantum computing. In April 2025, they announced the development of a 256-qubit superconducting quantum computer, a notable increase from their 64-qubit iteration achieved in 2023. This partnership highlights national efforts to advance quantum hardware capabilities.
Google continues to be a major player in superconducting quantum computing. In December 2024, Google announced Willow, their latest quantum computing chip. Google Quantum AI founder Hartmut Neven described Willow as more than just an improvement over its predecessor, Sycamore; he hailed it as “a major breakthrough in quantum error correction.” In a statement that garnered considerable attention, Neven even suggested Willow’s performance lent “credence to the notion that quantum computation occurs in many parallel universes,” emphasizing the chip's advanced capabilities.
IBM
IBM has been a long-standing leader in quantum computing research and development, particularly in superconducting circuits. Their efforts span both increasing qubit count and improving performance metrics. Key chip developments from IBM include Condor, a significant milestone superconducting chip designed for scaling up to 1,121 qubits, and Heron, a 156-qubit processor specifically engineered to achieve improved performance and lower error rates. IBM's roadmap continues to push the boundaries of what's possible with superconducting technology.
Infleqtion
Founded in 2007 and formerly known as ColdQuanta, Infleqtion is a US-based company focusing on developing quantum computers using neutral atom technology. This approach leverages the precise control achievable with cold atoms, offering a path towards highly controllable and potentially scalable qubit systems. Infleqtion is one of several companies exploring the neutral atom modality as a promising avenue for building future quantum hardware.
Intel
Semiconductor giant Intel is pursuing quantum computing by focusing on silicon spin qubits, leveraging their extensive expertise in silicon manufacturing. In June 2023, Intel unveiled Tunnel Falls, a 12-qubit research chip designed to explore the potential of this technology. While they announced expectations for a next-generation quantum chip based on Tunnel Falls to be released in 2024, an update on this specific release appears pending. Their work represents an effort to utilize established semiconductor processes for quantum applications.
IonQ
IonQ is a publicly listed U.S. company specializing in trapped-ion quantum computers. Their flagship systems, like the IonQ Forte, utilize individual ions held in place by electromagnetic fields as qubits. This technology is known for its high qubit quality and connectivity. After going public via a SPAC in late 2021, IonQ expanded its capabilities by acquiring Canadian networking specialist Entangled Networks, aiming to enhance connectivity and scalability for their trapped-ion systems.
IQM
A Finnish startup, IQM is building superconducting quantum computers. Spun out from Aalto University and VTT Technical Research Centre of Finland, IQM has received significant support from both national and European sources. Early funding came from the Business Finland government agency, followed by support from the EIC Accelerator program. The company secured substantial investment, including €128 million in Series A2 funding led by World Fund in 2022, adding to a previous €39 million Series A tranche led by MIG Fonds in 2020. This funding history underscores strong European backing for their superconducting approach.
Microsoft
Microsoft is advancing its quantum hardware strategy with a focus on topological qubits, believed to offer inherent resistance to certain types of errors. In February 2025, Microsoft introduced Majorana, a quantum chip utilizing a topological core architecture. This development aligns with Microsoft's previously stated ambition to build a quantum supercomputer within 10 years, positioning topological qubits as a potential path to achieving the necessary scale and fault tolerance.
Oxford Ionics
As its name implies, Oxford Ionics is a British startup with roots at Oxford University, focusing on trapped-ion quantum computing. They differentiate themselves with unique approaches to trap design and qubit control. The company has successfully attracted significant investment, raising a £30 million Series A (approximately $36 million) in early 2023, followed by an additional £2 million (approximately €2.32 million) from the UK’s National Security Strategic Investment Fund (NSSIF) later that year. Their expertise was also recognized through selection for DARPA’s Quantum Benchmarking Initiative (QBI) alongside Quantinuum.
Pasqal
Pasqal is a French startup pursuing a full-stack approach to quantum computing, betting on neutral atoms as their core technology. The company emerged from the renowned Institut d’Optique in 2019 and boasts Nobel Prize laureate for physics, Alain Aspect, as one of its co-founders. Pasqal secured a significant €100 million Series B funding round in February 2023, led by Singapore’s Temasek, with participation from a mix of existing investors (Quantonation, Defense Innovation Fund, Daphni, Eni Next) and new backers (European Innovation Council (EIC) Fund, Wa’ed Ventures, Bpifrance). Their neutral atom platform is applied across hardware, software, and applications.
PsiQuantum
PsiQuantum is a quantum computing startup utilizing photonics technology with an ambitious goal: to build “a 1 million-quantum-bit machine.” Their approach involves using photons as qubits and integrated photonics for processing. In February 2025, they announced Omega, a quantum photonic chipset manufactured at GlobalFoundries in New York, demonstrating progress in scaling their technology. PsiQuantum has attracted substantial investment, including a $450 million Series D led by BlackRock in 2021, and is reportedly raising a potential $750 million round at a $6 billion pre-money valuation. Founded by Australian academics, they also receive backing from the Australian and Queensland governments, highlighting international interest in their photonic path.
Qilimanjaro
Based in Barcelona, Spain, Qilimanjaro is a startup focused on analog quantum app-specific integrated circuits (QASICs). They are taking a full-stack approach, developing not only the hardware but also the software and applications to run on it. Qilimanjaro gained visibility by winning the Four Years From Now startup competition at Mobile World Congress in 2024 and subsequently received €1.5 million in funding from Catalonia later that year, supporting their unique QASIC approach.
Quandela
Quandela is another French startup dedicated to developing photonic quantum computers. Founded in 2017, Quandela focuses on building quantum processors that use photons as the basis for computation. The company received significant support in November 2023, raising a €50 million Series B and securing additional backing from the French government through the France 2030 Plan, underscoring national support for photonic quantum computing.
Quantinuum
Formed in 2021 through the merger of Cambridge Quantum and Honeywell Quantum Solutions, Quantinuum is a major player in trapped-ion quantum computing. Their flagship product line, the H-Series, represents some of the most advanced trapped-ion systems available. Quantinuum is also actively involved in quantum software and error correction research. In April 2024, they announced a significant breakthrough in error correction capabilities achieved in collaboration with Microsoft, demonstrating progress towards fault-tolerant quantum computing.
QuantWare
A Dutch startup and spinout from TU Delft and QuTech, QuantWare is focused on addressing scaling challenges in quantum processing units (QPUs) with a proprietary 3D chip architecture called VIO. They aim to provide scalable superconducting quantum hardware. In February 2025, they began accepting preorders for Contralto-A, their first QPU specifically designed with quantum error correction in mind. Following a €6 million seed round in 2023, QuantWare announced a €20 million Series A (approximately $19.27 million) in March 2025, which included €5 million in equity from a larger €7.5 million commitment from the European Innovation Council (the remainder as a grant), highlighting strong European backing for their hardware development.
QuEra
Boston-based QuEra is another company betting on neutral atoms, believing it to be the “best approach to achieve large-scale, fault-tolerant quantum computers.” Their product offerings include Aquila, a 256-qubit analog neutral-atom quantum computer launched in 2022 and accessible via Amazon Braket, demonstrating connectivity with major cloud platforms. QuEra has attracted significant investor interest, notably securing a $230 debt round led by Google in February 2025, with a convertible note also backed by SoftBank, Valor, and existing investors, underscoring high confidence in their neutral atom approach.
Rigetti Computing
Founded in 2013 by Chad Rigetti, Rigetti Computing is a quantum company focused on superconducting technology, similar to IBM and Google. They offer a range of products, including the Ankaa-3 system and the upcoming 336-qubit Lyra system, continuously pushing the qubit count on their platforms. Like rivals D-Wave and IonQ, Rigetti Computing is a publicly listed company, having raised just under $200 million in VC capital before going public via a SPAC in 2021. In February 2025, Rigetti announced a strategic partnership with Taiwan-based Quanta Computer, involving a $35 million investment and share purchase from Quanta, alongside a commitment from both companies to invest over $100 million each over the next five years to accelerate the development and commercialization of their superconducting quantum computing technology.
SEEQC
U.S. quantum startup SEEQC, an acronym for “scalable, energy efficient quantum computing,” is a spinout of chip company Hypres, itself founded by former IBM superconducting electronics division employees. SEEQC focuses on developing superconducting digital logic alongside quantum circuits. In 2023, SEEQC announced a partnership with Nvidia to build an “all-digital, ultra-low-latency chip-to-chip link between quantum computers and GPUs,” addressing critical interface challenges. The company raised a $30 million funding round in January 2025, co-led by Booz Allen Ventures and Japanese-European VC firm NordicNinja, with participation from backers like Merck’s M Ventures. SEEQC is also leading the U.K.-supported QuPharma project, in partnership with BASF and Merck, to explore how quantum computing can accelerate drug discovery, showcasing a focus on application alongside hardware.
SpinQ
SpinQ is a Chinese startup founded in 2018 that develops quantum computers. They are notable for claiming to have developed portable quantum computers, utilizing nuclear magnetic resonance (NMR) technology for some of their systems. While many quantum computers require large, stationary setups, SpinQ's focus on portability and NMR represents a different segment of the quantum hardware landscape.
Xanadu
A Canadian startup, Xanadu is pursuing a photonic approach to building quantum computers, similar to PsiQuantum and Quandela. Founded in 2016, Xanadu has raised significant capital, totaling around $275 million to date, including a $100 million Series C in November 2022 at a $1 billion valuation. In January 2025, they introduced Aurora, a 12-qubit system that incorporates 35 photonic chips, demonstrating progress in integrating multiple photonic components for computation.
Conclusion: A Diverse and Dynamic Race
The race to build practical quantum chips is characterized by remarkable diversity in technology and approach. From superconducting circuits and trapped ions to neutral atoms and photons, each method presents unique advantages and challenges. The companies highlighted here – including Akhetonics, Alice & Bob, Amazon, Atom Computing, D-Wave, EeroQ, Fujitsu and RIKEN, Google, IBM, Infleqtion, Intel, IonQ, IQM, Microsoft, Oxford Ionics, Pasqal, PsiQuantum, Qilimanjaro, Quandela, Quantinuum, QuantWare, QuEra, Rigetti Computing, SEEQC, SpinQ, and Xanadu – represent a snapshot of the global effort. Their significant funding rounds, strategic partnerships, and continuous chip development announcements underscore the rapid pace of innovation in quantum computing hardware. While the ultimate architecture for large-scale, fault-tolerant quantum computers remains an open question, the progress made by these players brings the quantum era ever closer.