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Story summary
- Pure-play quantum computing companies IonQ, Rigetti, and D-Wave have fallen more than 30% in 2026, raising survival concerns due to high cash burn.
- Alphabet and IBM can fund quantum research indefinitely through their profitable core businesses.
- IonQ and D-Wave trade at inflated valuations—99 and 217 times sales, respectively.
- Experts say large-scale commercial quantum applications may take five to 20 years, making these investments risky.
