After AI, markets are already betting on the quantum revolution

Beyond the sheer amounts involved, what is changing most is the structure of funding. The sector, long supported by public research institutions and laboratories, is now heavily dependent on private investors. In 2025, nearly 97% of funding for quantum startups came from private sources, compared with 67% a year earlier.

At the same time, financial markets are playing an increasingly important role in funding the sector. A significant share of capital now flows through IPOs, mergers and acquisitions, and public market fundraising. Quantum is thus gradually moving beyond the venture capital ecosystem alone and entering the realm of traditional financial markets.

This dynamic is accompanied by a strong concentration of investment. The ten largest deals in 2025 alone accounted for around 60% of global funding. The sector is therefore beginning to structure itself around a handful of players identified as leaders, while the rest of the ecosystem remains highly fragmented.

This rise of private-sector dominance is also being supported by governments. In the United States, more than $2 billion in public funding has been announced under the CHIPS and Science Act, particularly in support of players such as IBM and IonQ.

As a result, the combination of private capital, financial markets, and public support has significantly accelerated interest in the sector.

Shares in the S&P Kensho Quantum Computing index have risen by 60% since January 2026, far outperforming the Nasdaq-100 (+21%).

Quantum becomes a global strategic priority

1) Communication security (the “Q-Day” scenario)

Today, most digital systems rely on encryption mechanisms to protect data: banks, messaging services, public administrations, and defense systems.

A sufficiently advanced quantum computer could eventually weaken some of these protections. This is sometimes referred to as “Q-Day”, a moment when certain cryptographic systems would no longer be secure enough.

Governments are already preparing for this scenario by developing new security standards designed to withstand the quantum era.

2) A military and technological advantage

Quantum technology is not limited to computing; it also extends to measurement and sensing. It could enable more precise navigation systems independent of GPS, useful in military or underwater environments. It also opens the door to sensors capable of detecting extremely weak signals or variations that are currently invisible.

3) Control of the key technologies of the future

Quantum computing could also transform entire sectors of the economy: chemistry, energy, materials, and healthcare. For example, it could make it possible to simulate molecules far more accurately, accelerate the discovery of new materials, or optimize highly complex industrial processes.
The entity that masters these tools could therefore gain a significant lead in strategic industries.

This importance explains why all major powers are investing heavily.
According to McKinsey & Company, more than $55 billion in public investments have already been announced worldwide to support the development of quantum technologies.

Europe holds a strong position in research, but it is still trying to turn this scientific lead into industrial leadership.

Where quantum truly creates value

Pharmaceuticals

Quantum computing could transform drug discovery by enabling more precise simulation of molecular behavior. The goal is to reduce both the time and cost of developing new treatments, which are currently often very long and expensive processes. Companies such as AstraZeneca are already collaborating with IonQ and NVIDIA on hybrid approaches combining classical and quantum computing.

Finance

In finance, quantum computing is being explored to optimize portfolios, improve risk management, and accelerate certain complex market-related calculations.
HSBC and IBM have already tested early applications in algorithmic trading, while JPMorgan is working with Quantinuum on use cases related to cryptography and secure random number generation.

Chemistry & materials

Quantum computing could help design new materials, optimize batteries, and improve industrial processes, particularly in the context of the energy transition.
Companies such as BASF are already exploring these applications with quantum players like D-Wave.

Logistics & transport

Quantum computing could enable the optimization of extremely complex logistics problems: routing, supply chains, and real-time flow management.
IonQ, for example, is working with companies such as Einride on use cases related to advanced logistics and autonomous transport systems.

How to invest in quantum

Indirect exposure through Big Tech

IBM, Google, Microsoft, and Amazon are all heavily involved in quantum computing while also benefiting from highly diversified business models.

This setup provides exposure to quantum advancements while remaining backed by established companies with multiple revenue streams.

Quantum-themed ETFs

The Defiance Quantum ETF is the best known. It has gained +78% over the past 12 months and +40% since January 2026. Other ETFs are also available from iShares and VanEck. These funds provide automatic diversification across companies in the sector.

Listed pure players

Specialized companies such as IonQ, D-Wave, and Rigetti offer direct exposure to this technology, but with a very high level of risk and significant volatility.
This type of investment can experience extreme moves, with sharp rallies following technological breakthroughs, but also severe corrections in the event of delays or disappointments.

Key risks to understand

Conclusion