AI-weary investors are increasingly turning their attention to ‘what’s next?’ in the technology world.

For some, the next big leap after AI could be quantum computing. A field that has long been talked about as theoretical, it is now moving into the real world with early-stage applications emerging across computing, communications and other sectors.

Developments like Google’s “Quantum Echoes” – which ran a complex task 13,000 times faster on a quantum chip than a traditional computer – as well as IonQ’s (NYSE: IONQ) US$1.8 billion acquisition of SkyWater Technology in January 26, have highlighted how quickly the quantum landscape is evolving toward practical capability. 

Sundar Pichai, Chief Executive Officer of Alphabet, recently called it the next major computing evolution, telling the BBC in a Newsnight interview, that quantum computing is “where AI was 5 years ago.”

Today, the global quantum technology market remains relatively small.

But according to McKinsey’s 2025 ‘Quantum Technology Monitor’, surging investment and multiplying breakthroughs could propel it quickly. It projects the space will grow substantially between now and 2035 to be worth as much as US$97 billion – up from $700 million currently. While quantum technology will affect many industries, the chemicals, life sciences, finance, and mobility industries will see the most growth, the report says.

For investors keen to gain exposure to the potential of quantum computing, there are no pure-play quantum companies listed on the ASX. However, local investors potentially can gain exposure to the theme in several ways. The first is through international stocks leading the space – through US-based names such as IBM (NYSE: IBM), Alphabet (NASDAQ: GOOGL), IonQ (NYSE: IONQ), and Rigetti Computing (NASDAQ: RGTI). There are also thematic Exchange Traded Fund (ETFs) which capture the quantum and advanced computing value chain, as well as diversified funds with exposure to frontier technologies.

What is quantum computing?

Quantum computing has been described as a “new computing paradigm” that uses qubits to process information in fundamentally different ways than traditional computers. This allows quantum computers to process complex problems much faster and more efficiently than classic computing especially applications dealing with: 

• Simulating molecules for drug discovery;
• Solving optimisation problems in finance or logistics; and
• Factoring large numbers for cryptography

Emerging tech: risks and considerations 

Quantum computing is still nascent and speculative with meaningful commercialisation talked about as a ‘future-state’.

That said, the potential market has some possibly strong market drivers behind it, including:

• Governments, corporates and venture capitalists are investing billions annually into quantum R&D and early commercialisation efforts. In 2024, private and public investors poured nearly $2 billion into quantum technology start-ups worldwide, a 50% increase compared to $1.3 billion in 2023.
• Technology giants like IBM, Microsoft, and Alphabet are continuing to progress in quantum innovation, unveiling key breakthroughs that signal a new era for the industry.
• Commercial access is growing with cloud-based quantum platforms such as IBM’s Quantum Network bringing quantum experimentation closer to the commercial frontier.

For investors with a higher risk tolerance, quantum may offer a thematic investment opportunity and potential long-term play. Advisers and investors should bear in mind:

• Time horizons are long. Adoption and commercial impact are likely measured in years or decades, and not quarters.
• Volatility can be high. Specialist quantum stocks may be small, illiquid and price sensitive.
• Core vs satellite thinking matters. Given the nascent nature of the technology, analysts suggest quantum is better suited as a satellite thematic within a diversified portfolio.

How to buy into the quantum thematic 

Quantum is an emerging technology and direct investment opportunities are limited. 

Australian investors must think globally and long-term to access investment opportunities in this space.

Here’s some potential ways to invest:

1. International stocks with quantum linkages

There are no ASX pure plays, but several global companies offer indirect or future oriented exposure. Some examples are:

• IonQ (NYSE: IONQ) One of the first public companies focused on quantum computing hardware. 
• Rigetti Computing (NASDAQ: RGTI) is another quantum specialist listed in the US. The stock has rallied by around 60% over the past 12 months.. 
• Alphabet (NASDAQ: GOOGL), IBM (NYSE: IBM), Microsoft (NASDAQ: MSFT) are some of the larger tech firms with substantive quantum research programs, AI portfolios and diversified revenue streams.

These names are accessible through international trading accounts that support US equities and ETFs. 

For Australian advisers looking to explore this emerging theme, AUSIEX’s international trading platform provides direct access to the US and global markets where most quantum related exposure currently exists.

2. Thematic ‘quantum computing’ ETFs

A selection of quantum adjacent ETFs can offer broader coverage of the trend:

• Defiance Quantum ETF (NYSE Arca: QTUM): holds a basket of companies involved in quantum computing and adjacent technologies.
• VanEck Quantum Computing UCITS ETF (LSE: QNTM): Europe listed, diversified across hardware and software players in advanced computing.

These vehicles may be suited to advisers who prefer a diversified, single ticket entry point into the quantum theme. They can be accessed via brokers that support international markets.

3. Broader tech funds 

Pure quantum plays can be volatile, and some investors may prefer to gain exposure through broader technology or diversified thematic ETFs to help mitigate risk.

Some broad or multi theme tech ETFs available to Australian investors may offer indirect exposure to companies advancing or adopting quantum tech, for example via holdings in next generation semiconductors, AI and computing infrastructure. Some examples include:

• Locally listed thematic ETFs such as BetaShares NASDAQ 100 ETF (ASX: NDQ) or BetaShares Global Robotics and AI ETF (ASX: RBTZ). While not quantum specific, such ETFs can include large tech names involved in quantum R&D.
• Offshore-listed broad tech and innovation ETFs – for example, the Invesco QQQ Trust (NASDAQ: QQQ) or the iShares Semiconductor ETF (NASDAQ: SOXX).

How AUSIEX can support your investment choice

Whether buying into quantum linked stocks or adding thematic ETFs, AUSIEX offers international markets and exposure pathways. Visit AUSIEX’s International Trading page or get in touch for more information.

 

Source(s):

https://www.mckinsey.com/capabilities/tech-and-ai/our-insights/the-year-of-quantum-from-concept-to-reality-in-2025

https://www.reuters.com/technology/ionq-buy-skywater-18-billion-expand-hardware-capabilities-2026-01-26/

https://blog.google/innovation-and-ai/technology/research/quantum-echoes-willow-verifiable-quantum-advantage/

https://quantumzeitgeist.com/google-ceo-sundar-pichai-quantum-computing-is-where-ai-was-five-years-ago/

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