Trump's Quantum Orders Spark Rally, But Will Companies Deliver by 2028?

President Donald J. Trump signed two executive orders on June 22, 2026, aiming for a 'scientifically relevant' quantum computer by 2028 and accelerating federal migration to post-quantum cryptography into the early next decade.

The orders set off a rally in quantum stocks, with IonQ, Rigetti, and D-Wave experiencing significant price increases. However, experts caution that trading past 2028 will be a challenge for these companies, requiring them to demonstrate repeatable performance on benchmark suites, hybrid workflows, and a procurement-ready posture.

IonQ leans on its trapped-ion architecture's reputation for high-fidelity gates and cloud distribution, while Rigetti focuses on superconductor fabrication and error-rate improvement. D-Wave targets optimization-focused problems with its quantum annealing systems.

The listing of Quantinuum, spun out of Honeywell with Cambridge Quantum, has broadened the set of public comparables for portfolio managers, giving them more options to model revenue trajectories and value.