Over the past few years, growth investors have discovered a new area of technology with huge potential: quantum computing. While quantum computing remains a speculative and research-intensive ambition for now, some investors expect that the technology could become a central pillar of the artificial intelligence (AI) opportunity in the long term.
Last year, the company’s stock Defiance Quantum ETF Soared 35% – more than double the gain over the same period S&P 500 Index and easily surpass NasdaqThe total return was 21%. While some names in the sector have become overbought due to the hype narrative surrounding the technology, there are two huge quantum computing stocks that look quite attractive right now.
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Almost nothing in artificial intelligence can NVIDIA(NASDAQ: NVDA) Don’t touch. Over the past three years, the company has become a major player in the data center industry with its comprehensive AI stack spanning hardware and software.
One of the cornerstones of the company’s quantum computing strategy is the CUDA-Q ecosystem, an open source platform that allows developers to program computing applications in a hybrid quantum/classical environment. This innovation relies on Nvidia’s CUDA software platform, which is designed for application development in parallel with its graphics processing unit (GPU) architecture.
Another way Nvidia is investing in quantum computing is through its cuQuantum software development kit. The kit enables researchers to create simulation models to explore the behavior of qubits rather than investing in expensive physical hardware.
Ultimately, quantum computing could become the basis for breakthroughs in applications such as complex business simulations, optimizing neural networks, and reducing data center energy consumption. Against this backdrop, research and development in quantum computing has reinforced long-term demand for Nvidia GPUs and supporting software, paving the way for continued growth beyond artificial intelligence data centers.
Image source: NVIDIA.
letter(Nasdaq: Google)(Nasdaq: Google)Quantum computing is also being pursued through new hardware and software.
Alphabet, through its Google Quantum AI unit, has developed a quantum chip called Willow. According to the company’s marketing, the Willow chip can handle complex benchmark calculations in about five minutes that would take the world’s most advanced supercomputers a billion years to solve.
In addition, Alphabet also offers an open source quantum platform called Cirq and a hybrid framework called TensorFlow.
Each of these applications can provide significant improvements to core products within the Alphabet ecosystem. For example, quantum AI algorithms could improve Google’s indexing, allowing for better ad targeting. In addition, the popularity of Cirq and TensorFlow could bring opportunities for Alphabet in new markets such as drug discovery, financial services, and even energy modeling.
While quantum computing may bring long-term upside to their respective businesses, both Nvidia and Alphabet have experienced meaningful valuation reductions recently.
NVDA P/E ratio (forward) data provided by YCharts
Nvidia’s forward price-to-earnings (P/E) ratio is just 22 times, currently hovering near its lowest level since the AI revolution began. Alphabet, meanwhile, trades at 27 times forward earnings, nominally down from a two-year high of more than 30 times hit in late 2025.
To me, these trends suggest that growth investors may be somewhat cautious about Nvidia and Alphabet pricing right now. Whether it’s due to concerns about an AI bubble, concerns about the sustainability of accelerating investments in data center infrastructure, or an underestimation of the potential of quantum computing, capital appears to be draining away from these giant companies.
Indeed, deploying quantum computing at the enterprise level will take quite some time, and the systems available so far are not ready for commercialization. Still, it’s encouraging to see Nvidia and Alphabet deploy capital beyond their respective core markets and aggressively seek ways to enter new verticals.
I expect quantum computing to become another structural layer in AI technology, which will help Nvidia and Alphabet maintain a lasting, strong position in this field. Therefore, investors with a long-term horizon can view this as a rare opportunity to buy into these two industry-leading AI developers on the dip.
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Adam Spatacco works at Alphabet and Nvidia. The Motley Fool holds positions and recommends Alphabet and Nvidia. The Motley Fool has a disclosure policy.
Want to invest in quantum computing? 2 Stocks to Buy Right Now Originally Posted by The Motley Fool
