Revenue
How quantum computing makes money. 25 startups profiled with real customers, deal sizes, and pricing data.
25startups profiled
134customers found
189deals tracked
Money Flow
Where the revenue comes from. Breakdown by industry and product type.
11
Customer Industries
8
Product Types
Government
Top Industry
$627-1253M
30
Multi-Vendor Buyers
Revenue by Customer Industry
Estimated midpoint revenue by industry vertical
Revenue by Product Type
Breakdown by quantum product category
Hardware Access78.2%$1239-2479M
Consulting/Services12.9%$204-408M
Security Solutions2.1%$33-67M
SaaS Platform1.8%$29-58M
Algorithm Development1.7%$27-54M
Cloud QPU Time1.6%$26-52M
Middleware/Tools1.1%$18-35M
SDK/License0.6%$9-18M
Top Paying Customers
Highest estimated quantum spend
Australian Commonwealth & Queensland Governments
Governmentdeploying
$100M+
1 vendor
PsiQuantum
State of Illinois / IQMP
Governmentdeploying
$100M+
1 vendor
PsiQuantum
Al Rabban Capital (Qatar Joint Venture)
Governmentdeploying
$100M+
1 vendor
Quantinuum
DARPA
Governmentscaling
$100M+
7 vendors
PsiQuantumInfleqtionPhotonic IncXanaduQuEra ComputingQ-CTRLAtom Computing
AFRL
Aerospace/Defensescaling
$100M+
4 vendors
Rigetti ComputingIonQIonQXanadu
Microsoft
Tech/Clouddeploying
$100M+
2 vendors
Photonic IncAtom Computing
Key Insights
Notable patterns in quantum revenue flows
Government and Aerospace/Defense together account for 56.4% of all tracked deal value ($894-1787M), making the public sector the dominant quantum buyer by a wide margin.
The top 5 quantum customers (Australian Commonwealth & Queensland Governments, State of Illinois / IQMP, Al Rabban Capital (Qatar Joint Venture), DARPA, AFRL) account for approximately 29.4% of total tracked customer spend, showing extreme concentration.
Hardware Access is the largest revenue category at 78.2% of deal value ($1239-2479M), confirming that on-premises QPU sales and sovereign quantum infrastructure drive the industry's economics.
Only 15 of 134 customers (11%) have reached 'scaling' maturity, while 23 are 'deploying' — the vast majority (96) are still piloting or exploring.
5 deals are valued at $100M+ each, together representing 28.4% of total tracked deal value — quantum computing revenue is dominated by a handful of sovereign mega-deals.
30 of 134 customers (22.4%) use multiple quantum vendors, indicating an emerging multi-vendor procurement pattern especially among defense agencies and large tech companies.
Finance is the largest private-sector quantum buyer at 10.3% of deal value, with 18 customers spanning JPMorgan, HSBC, BBVA, and central banks — but most deals are sub-$10M pilots.
PsiQuantum leads in tracked deal value with an estimated $245-490M across 6 deals, while Quantinuum leads in reported revenue at ~$210M ARR.
Security Solutions (post-quantum cryptography and QKD) account for $33-67M in tracked deals across 10 agreements, driven by the 2030/2035 NIST PQC migration deadlines.
Pharma/Healthcare remains an underpenetrated vertical with only 4 customers and 0.5% of deal value, though AstraZeneca, Amgen, and Merck are establishing early quantum drug discovery pipelines.
Tech/Cloud companies represent 42 customers but many are vendor-to-vendor deals (quantum startups buying from each other), inflating the apparent market breadth.
Total tracked deal value across all 25 startups is estimated at $1586-3171M, with 2 deals (1.1%) having undisclosed values — the actual market is likely larger.
Customers
134 enterprise buyers identified. Who they are, what they buy, and how mature their adoption is.
134
Total Customers
11
Industries
15
Scaling Customers
26
Exploring
70
Piloting
23
Deploying
15
Scaling
All Customers (134)
Complete customer registry sorted by quantum spend
| Customer | Industry | Maturity | Total Spend | Vendors | First Year |
|---|---|---|---|---|---|
| Australian Commonwealth & Queensland Governments | Government | deploying | $100M+ | 1(PsiQuantum) | 2024 |
| State of Illinois / IQMP | Government | deploying | $100M+ | 1(PsiQuantum) | 2025 |
| Al Rabban Capital (Qatar Joint Venture) | Government | deploying | $100M+ | 1(Quantinuum) | 2025 |
| DARPA | Government | scaling | $100M+ | 7(PsiQuantum, Infleqtion, Photonic Inc, Xanadu, QuEra Computing, Q-CTRL, Atom Computing) | 2023 |
| AFRL | Aerospace/Defense | scaling | $100M+ | 4(Rigetti Computing, IonQ, IonQ, Xanadu) | 2023 |
| Microsoft | Tech/Cloud | deploying | $100M+ | 2(Photonic Inc, Atom Computing) | 2023 |
| UK Government | Government | scaling | $100M+ | 5(Infleqtion, Photonic Inc, Photonic Inc, Riverlane, Nu Quantum) | 2023 |
| GLOBALFOUNDRIES | Tech/Cloud | deploying | $50-100M | 1(PsiQuantum) | 2024 |
| Mitsui & Co. (Japan/Asia-Pacific Distribution) | Other | deploying | $50-100M | 1(Quantinuum) | 2024 |
| QuantumBasel (uptownBasel, Switzerland) | Academic/Research | deploying | $50-100M | 1(IonQ) | 2025 |
| VTT Technical Research Centre of Finland | Academic/Research | deploying | $50-100M | 1(IQM Quantum Computers) | 2024 |
| Seoul Metropolitan Government / Korea | Government | deploying | $50-100M | 1(Pasqal) | 2025 |
| QuNorth | Government | deploying | $50-100M | 1(Atom Computing) | 2025 |
| NVIDIA | Tech/Cloud | scaling | $50-100M | 4(Rigetti Computing, Infleqtion, Quantum Machines, Oxford Quantum Circuits (OQC)) | 2023 |
| U.S. Department of Defense | Aerospace/Defense | scaling | $50-100M | 2(SandboxAQ, Infleqtion) | 2025 |
| Infineon Technologies | Tech/Cloud | piloting | $10-50M | 1(Quantinuum) | 2024 |
| Quanta Computer | Tech/Cloud | piloting | $10-50M | 1(Rigetti Computing) | 2025 |
| EPB of Chattanooga | Energy/Utilities | deploying | $10-50M | 1(IonQ) | 2025 |
| EuroHPC / LRZ | Government | piloting | $10-50M | 1(IQM Quantum Computers) | 2025 |
| EuroHPC | Government | piloting | $10-50M | 1(IQM Quantum Computers) | 2025 |
| Florida Atlantic University | Academic/Research | piloting | $10-50M | 1(D-Wave Quantum) | 2026 |
| Swiss Quantum Technology SA / Q-Alliance (Italy) | Government | deploying | $10-50M | 1(D-Wave Quantum) | 2025 |
| Davidson Technologies (U.S. DoD/Aerospace) | Aerospace/Defense | piloting | $10-50M | 1(D-Wave Quantum) | 2025 |
| Yonsei University / City of Incheon (South Korea) | Academic/Research | piloting | $10-50M | 1(D-Wave Quantum) | 2025 |
| Israel Innovation Authority / IQCC | Government | piloting | $10-50M | 1(Quantum Machines) | 2024 |
| Japan AIST (National Institute of Advanced Industrial Science and Technology) | Government | piloting | $10-50M | 1(QuEra Computing) | 2024 |
| Aramco | Energy/Utilities | deploying | $10-50M | 1(Pasqal) | 2024 |
| Digital Realty | Tech/Cloud | piloting | $10-50M | 1(Oxford Quantum Circuits (OQC)) | 2025 |
| Bpifrance / French State | Government | piloting | $10-50M | 1(Alice & Bob) | 2024 |
| Oak Ridge National Laboratory | Government | scaling | $10-50M | 4(IonQ, IQM Quantum Computers, Riverlane, Riverlane) | 2024 |
| AWS | Tech/Cloud | scaling | $10-50M | 5(Rigetti Computing, IQM Quantum Computers, Xanadu, QuEra Computing, Classiq) | 2022 |
| HSBC | Finance | scaling | $10-50M | 2(Quantinuum, Classiq) | 2023 |
| Carahsoft | Government | piloting | $10-50M | 2(D-Wave Quantum, PQShield) | 2025 |
| UK NQCC | Government | piloting | $10-50M | 2(QuEra Computing, Riverlane) | 2024 |
| Mitsubishi Chemical | Chemicals/Materials | scaling | $5-10M | 3(PsiQuantum, Xanadu, Classiq) | 2024 |
| JPMorgan Chase | Finance | piloting | $5-10M | 1(Quantinuum) | 2024 |
| India C-DAC (Centre for Development of Advanced Computing) | Government | piloting | $5-10M | 1(Rigetti Computing) | 2026 |
| SAIC | Aerospace/Defense | deploying | $5-10M | 1(Infleqtion) | 2025 |
| Hewlett Packard Enterprise (HPE) | Tech/Cloud | piloting | $5-10M | 1(IQM Quantum Computers) | 2024 |
| South Korea (KIST/National Lab) | Government | piloting | $5-10M | 1(IQM Quantum Computers) | 2024 |
| Taiwan (National Quantum Lab) | Government | piloting | $5-10M | 1(IQM Quantum Computers) | 2025 |
| TELUS | Telecom | piloting | $5-10M | 1(Photonic Inc) | 2024 |
| A*STAR (Singapore) | Government | piloting | $5-10M | 1(Xanadu) | 2025 |
| Applied Materials | Tech/Cloud | piloting | $5-10M | 1(Xanadu) | 2025 |
| Japan NEDO | Government | piloting | $5-10M | 1(QuEra Computing) | 2025 |
| LG Electronics | Tech/Cloud | piloting | $5-10M | 1(Pasqal) | 2025 |
| GENCI | Government | deploying | $5-10M | 1(Pasqal) | 2023 |
| CESGA (Spanish supercomputing centre) | Academic/Research | deploying | $5-10M | 1(Oxford Quantum Circuits (OQC)) | 2023 |
| SBI Investment (Japan) | Finance | deploying | $5-10M | 1(Oxford Quantum Circuits (OQC)) | 2023 |
| U.S. Air Force | Aerospace/Defense | scaling | $5-10M | 3(SandboxAQ, SandboxAQ, Terra Quantum) | 2023 |
| Rigetti Computing | Tech/Cloud | scaling | $5-10M | 3(Quantum Machines, Q-CTRL, Riverlane) | 2024 |
| Lockheed Martin | Aerospace/Defense | scaling | $5-10M | 3(PsiQuantum, D-Wave Quantum, Q-CTRL) | 2024 |
| Airbus | Aerospace/Defense | piloting | $5-10M | 2(Quantinuum, Q-CTRL) | 2023 |
| Amgen | Pharma/Healthcare | piloting | $5-10M | 2(Quantinuum, QuEra Computing) | 2024 |
| Defense Innovation Unit | Aerospace/Defense | piloting | $5-10M | 2(SandboxAQ, Q-CTRL) | 2025 |
| SoftBank | Telecom | scaling | $5-10M | 2(SandboxAQ, Classiq) | 2024 |
| Dell Technologies | Tech/Cloud | piloting | $5-10M | 2(Quantum Machines, QuEra Computing) | 2024 |
| IBM | Tech/Cloud | piloting | $5-10M | 2(Q-CTRL, Pasqal) | 2023 |
| Equinix | Tech/Cloud | piloting | $5-10M | 2(Alice & Bob, Alice & Bob) | 2023 |
| NASA | Government | piloting | $1-5M | 4(Infleqtion, Quantum Computing Inc, Quantum Computing Inc, Quantum Computing Inc) | 2024 |
| BMW | Automotive | scaling | $1-5M | 3(Quantinuum, Classiq, Zapata AI / Zapata Quantum) | 2023 |
| Volkswagen | Automotive | scaling | $1-5M | 3(D-Wave Quantum, Xanadu, Terra Quantum) | 2022 |
| NIST | Government | piloting | $1-5M | 2(Quantum Computing Inc, PQShield) | 2024 |
| Diraq | Tech/Cloud | piloting | $1-5M | 2(Quantum Machines, Q-CTRL) | 2024 |
| Rolls-Royce | Aerospace/Defense | piloting | $1-5M | 2(Xanadu, Classiq) | 2024 |
| Oxford Quantum Circuits | Tech/Cloud | piloting | $1-5M | 2(Q-CTRL, Riverlane) | 2024 |
| MUFG | Finance | piloting | $1-5M | 1(PsiQuantum) | 2024 |
| DISA | Government | piloting | $1-5M | 1(SandboxAQ) | 2023 |
| AstraZeneca | Pharma/Healthcare | piloting | $1-5M | 1(IonQ) | 2025 |
| Hyundai Motor Company | Automotive | piloting | $1-5M | 1(IonQ) | 2025 |
| Safran Electronics & Defense | Aerospace/Defense | piloting | $1-5M | 1(Infleqtion) | 2025 |
| Voyager Technologies | Aerospace/Defense | piloting | $1-5M | 1(Infleqtion) | 2025 |
| NTT DOCOMO | Telecom | deploying | $1-5M | 1(D-Wave Quantum) | 2024 |
| PwC Spain | Finance | deploying | $1-5M | 1(Multiverse Computing) | 2025 |
| EY | Finance | piloting | $1-5M | 1(Multiverse Computing) | 2025 |
| German Aerospace Center (DLR) | Aerospace/Defense | piloting | $1-5M | 1(Multiverse Computing) | 2024 |
| MIT (William D. Oliver group) | Academic/Research | piloting | $1-5M | 1(Quantum Machines) | 2025 |
| Royal Bank of Canada (RBC) | Finance | piloting | $1-5M | 1(Photonic Inc) | 2026 |
| Corning | Tech/Cloud | piloting | $1-5M | 1(Xanadu) | 2025 |
| DISCO Corporation (Japan) | Tech/Cloud | piloting | $1-5M | 1(Xanadu) | 2025 |
| Merck | Pharma/Healthcare | piloting | $1-5M | 1(QuEra Computing) | 2025 |
| Deloitte Japan | Other | piloting | $1-5M | 1(QuEra Computing) | 2025 |
| Deloitte Tohmatsu | Other | piloting | $1-5M | 1(Classiq) | 2024 |
| Sumitomo Corporation | Finance | piloting | $1-5M | 1(Classiq) | 2025 |
| Mizuho-DL Financial Technology | Finance | piloting | $1-5M | 1(Classiq) | 2025 |
| UK Department for Transport | Government | piloting | $1-5M | 1(Q-CTRL) | 2024 |
| QuantWare / Qblox | Tech/Cloud | piloting | $1-5M | 1(Q-CTRL) | 2025 |
| EDF (Electricite de France) | Energy/Utilities | piloting | $1-5M | 1(Pasqal) | 2025 |
| Kipu Quantum | Tech/Cloud | piloting | $1-5M | 1(Pasqal) | 2023 |
| Dunamu & Partners (Korea) | Finance | piloting | $1-5M | 1(Pasqal) | 2025 |
| OVHcloud | Tech/Cloud | piloting | $1-5M | 1(Pasqal) | 2025 |
| AVEVA (Schneider Electric subsidiary) | Energy/Utilities | piloting | $1-5M | 1(Oxford Quantum Circuits (OQC)) | 2024 |
| Kvantify (Denmark) | Tech/Cloud | piloting | $1-5M | 1(Oxford Quantum Circuits (OQC)) | 2025 |
| Riverlane | Tech/Cloud | piloting | $1-5M | 1(Oxford Quantum Circuits (OQC)) | 2025 |
| Fraunhofer EMFT | Academic/Research | piloting | $1-5M | 1(Oxford Quantum Circuits (OQC)) | 2025 |
| Oxford Instruments | Tech/Cloud | piloting | $1-5M | 1(Oxford Quantum Circuits (OQC)) | 2025 |
| Quantum Machines | Tech/Cloud | piloting | $1-5M | 1(Oxford Quantum Circuits (OQC)) | 2025 |
| Cisco | Tech/Cloud | piloting | $1-5M | 1(Nu Quantum) | 2024 |
| National Grid Partners | Energy/Utilities | piloting | $1-5M | 1(Nu Quantum) | 2025 |
| Siemens Cre8Ventures | Automotive | piloting | $1-5M | 1(Terra Quantum) | 2025 |
| Microchip Technology | Tech/Cloud | piloting | $1-5M | 1(PQShield) | 2022 |
| Chevron Technology Ventures | Energy/Utilities | piloting | $1-5M | 1(PQShield) | 2024 |
| BBVA | Finance | piloting | $1-5M | 2(Multiverse Computing, Terra Quantum) | 2023 |
| Missile Defense Agency | Aerospace/Defense | exploring | $0 (undisclosed) | 1(IonQ) | 2026 |
| Vodafone Business | Telecom | exploring | $100K-$1M | 1(SandboxAQ) | 2022 |
| Mt. Sinai Health System | Pharma/Healthcare | exploring | $100K-$1M | 1(SandboxAQ) | 2022 |
| Mastercard | Finance | exploring | $100K-$1M | 1(D-Wave Quantum) | 2024 |
| Credit Agricole CIB | Finance | exploring | $100K-$1M | 1(Multiverse Computing) | 2023 |
| Bosch Group | Automotive | exploring | $100K-$1M | 1(Multiverse Computing) | 2022 |
| Bank of Canada | Finance | exploring | $100K-$1M | 1(Multiverse Computing) | 2022 |
| BASF | Chemicals/Materials | exploring | $100K-$1M | 1(Multiverse Computing) | 2023 |
| Iberdrola | Energy/Utilities | exploring | $100K-$1M | 1(Multiverse Computing) | 2024 |
| Inetum | Tech/Cloud | exploring | $100K-$1M | 1(Multiverse Computing) | 2026 |
| Ecole Normale Supérieure de Lyon | Academic/Research | exploring | $100K-$1M | 1(Quantum Machines) | 2025 |
| University of Wisconsin-Madison | Academic/Research | exploring | $100K-$1M | 1(Quantum Machines) | 2023 |
| Weizmann Institute of Science | Academic/Research | deploying | $100K-$1M | 1(Quantum Machines) | 2023 |
| Seoul National University | Academic/Research | deploying | $100K-$1M | 1(Quantum Machines) | 2023 |
| BCGX (Boston Consulting Group) | Other | exploring | $100K-$1M | 1(QuEra Computing) | 2024 |
| Citigroup | Finance | exploring | $100K-$1M | 1(Classiq) | 2024 |
| Comcast | Telecom | deploying | $100K-$1M | 1(Classiq) | 2024 |
| Toshiba | Tech/Cloud | exploring | $100K-$1M | 1(Classiq) | 2024 |
| C12 Quantum Electronics | Tech/Cloud | exploring | $100K-$1M | 1(Classiq) | 2026 |
| AQT (Alpine Quantum Technologies) | Tech/Cloud | exploring | $100K-$1M | 1(Classiq) | 2024 |
| Transport for New South Wales | Government | exploring | $100K-$1M | 1(Q-CTRL) | 2024 |
| Q-CTRL | Tech/Cloud | exploring | $100K-$1M | 1(Oxford Quantum Circuits (OQC)) | 2024 |
| Horizon Quantum Computing | Tech/Cloud | exploring | $100K-$1M | 1(Alice & Bob) | 2026 |
| Thales Group | Aerospace/Defense | exploring | $100K-$1M | 1(Terra Quantum) | 2023 |
| MIT | Academic/Research | deploying | $100K-$1M | 1(Zapata AI / Zapata Quantum) | 2023 |
| Andretti Global | Other | exploring | $100K-$1M | 1(Zapata AI / Zapata Quantum) | 2023 |
| Collins Aerospace (RTX) | Aerospace/Defense | piloting | $100K-$1M | 1(PQShield) | 2022 |
| Classiq | Tech/Cloud | exploring | <$100K | 1(Alice & Bob) | 2024 |
| Quantum Datacenter Alliance | Tech/Cloud | exploring | <$100K | 1(Nu Quantum) | 2025 |
| D-Wave | Tech/Cloud | exploring | <$100K | 1(Zapata AI / Zapata Quantum) | 2024 |
| University of Maryland | Academic/Research | exploring | <$100K | 1(Zapata AI / Zapata Quantum) | 2026 |
Deals
189 deals tracked. Size distribution, contract patterns, and who pays the most.
Deal Size Distribution
Number of deals by estimated size range
189
Total Deals
162
Confirmed Deals
$100M+
Largest Deal Range
All Deals (189)
Complete deal registry sorted by year and size
| Vendor | Customer | Industry | Product Type | Deal Size | Year | Confidence |
|---|---|---|---|---|---|---|
| Quantum Computing Inc | Luminar Semiconductor (acquisition) | Aerospace/Defense | Hardware Access | $100M+ | 2026 | confirmed |
| D-Wave Quantum | Florida Atlantic University | Academic/Research | Hardware Access | $10-50M | 2026 | confirmed |
| Rigetti Computing | India C-DAC (Centre for Development of Advanced Computing) | Government | Hardware Access | $5-10M | 2026 | confirmed |
| D-Wave Quantum | Fortune 100 Company (undisclosed) | Other | SaaS Platform | $5-10M | 2026 | confirmed |
| Photonic Inc | Royal Bank of Canada (RBC) | Finance | Consulting/Services | $1-5M | 2026 | likely |
| Multiverse Computing | Inetum | Tech/Cloud | SDK/License | $100K-$1M | 2026 | confirmed |
| Classiq | C12 Quantum Electronics | Tech/Cloud | Middleware/Tools | $100K-$1M | 2026 | confirmed |
| Alice & Bob | Horizon Quantum Computing | Tech/Cloud | SDK/License | $100K-$1M | 2026 | confirmed |
| Zapata AI / Zapata Quantum | University of Maryland | Academic/Research | SDK/License | <$100K | 2026 | confirmed |
| IonQ | Missile Defense Agency (SHIELD IDIQ) | Aerospace/Defense | Consulting/Services | undisclosed | 2026 | confirmed |
| PsiQuantum | State of Illinois / IQMP | Government | Hardware Access | $100M+ | 2025 | confirmed |
| Quantinuum | Al Rabban Capital (Qatar Joint Venture) | Government | Hardware Access | $100M+ | 2025 | confirmed |
| Alice & Bob | AXA Venture Partners / QIA / Bpifrance (Series B investors) | Finance | Hardware Access | $100M+ | 2025 | confirmed |
| IonQ | QuantumBasel (uptownBasel, Switzerland) | Academic/Research | Hardware Access | $50-100M | 2025 | confirmed |
| Pasqal | Seoul Metropolitan Government / Korea | Government | Hardware Access | $50-100M | 2025 | confirmed |
| Atom Computing | QuNorth (Denmark EIFO + Novo Nordisk Foundation) | Government | Hardware Access | $50-100M | 2025 | confirmed |
| SandboxAQ | Department of War (DoW) CIO | Government | Security Solutions | $10-50M | 2025 | confirmed |
| Rigetti Computing | Quanta Computer | Tech/Cloud | Hardware Access | $10-50M | 2025 | confirmed |
| IonQ | EPB of Chattanooga | Energy/Utilities | Hardware Access | $10-50M | 2025 | confirmed |
| Infleqtion | U.S. Department of Defense (APFIT Program) | Aerospace/Defense | Hardware Access | $10-50M | 2025 | confirmed |
| IQM Quantum Computers | EuroHPC JU / Leibniz Supercomputing Centre (LRZ) | Academic/Research | Hardware Access | $10-50M | 2025 | confirmed |
| IQM Quantum Computers | EuroHPC (Poland, Italy, Spain, Czechia, France installations) | Government | Hardware Access | $10-50M | 2025 | confirmed |
| D-Wave Quantum | Swiss Quantum Technology SA / Q-Alliance (Italy) | Government | Hardware Access | $10-50M | 2025 | confirmed |
| D-Wave Quantum | Davidson Technologies (U.S. DoD/Aerospace) | Aerospace/Defense | Hardware Access | $10-50M | 2025 | confirmed |
| D-Wave Quantum | Yonsei University / City of Incheon (South Korea) | Academic/Research | Hardware Access | $10-50M | 2025 | likely |
| Photonic Inc | UK Government / Innovate UK | Government | Hardware Access | $10-50M | 2025 | confirmed |
| Xanadu | DARPA | Government | Consulting/Services | $10-50M | 2025 | confirmed |
| QuEra Computing | DARPA | Government | Consulting/Services | $10-50M | 2025 | confirmed |
| Q-CTRL | DARPA / U.S. Department of Defense | Aerospace/Defense | Hardware Access | $10-50M | 2025 | confirmed |
| Oxford Quantum Circuits (OQC) | Digital Realty / NVIDIA | Tech/Cloud | Hardware Access | $10-50M | 2025 | confirmed |
| Rigetti Computing | Air Force Research Laboratory (AFRL) | Aerospace/Defense | Consulting/Services | $5-10M | 2025 | confirmed |
| Rigetti Computing | Two Novera QPU Customers (Asian tech manufacturer + CA AI startup) | Tech/Cloud | Hardware Access | $5-10M | 2025 | confirmed |
| Infleqtion | SAIC | Aerospace/Defense | Consulting/Services | $5-10M | 2025 | estimated |
| IQM Quantum Computers | Oak Ridge National Laboratory (U.S. DOE) | Government | Hardware Access | $5-10M | 2025 | confirmed |
| IQM Quantum Computers | Taiwan (National Quantum Lab) | Government | Hardware Access | $5-10M | 2025 | likely |
| Photonic Inc | DARPA | Government | Consulting/Services | $5-10M | 2025 | confirmed |
| Xanadu | US Air Force Research Laboratory (AFRL) | Aerospace/Defense | Consulting/Services | $5-10M | 2025 | confirmed |
| Xanadu | A*STAR (Singapore) | Government | Consulting/Services | $5-10M | 2025 | confirmed |
| Xanadu | Applied Materials | Tech/Cloud | Hardware Access | $5-10M | 2025 | confirmed |
| QuEra Computing | Japan NEDO | Government | Hardware Access | $5-10M | 2025 | confirmed |
| Pasqal | LG Electronics | Tech/Cloud | Algorithm Development | $5-10M | 2025 | confirmed |
| Riverlane | Oak Ridge National Laboratory (ORNL / U.S. DOE) | Government | Hardware Access | $5-10M | 2025 | confirmed |
| Atom Computing | DARPA | Aerospace/Defense | Hardware Access | $5-10M | 2025 | confirmed |
| PQShield | Carahsoft (U.S. Government Master Aggregator) | Government | Security Solutions | $5-10M | 2025 | confirmed |
| SandboxAQ | Defense Innovation Unit (DIU) | Aerospace/Defense | Consulting/Services | $1-5M | 2025 | confirmed |
| Rigetti Computing | NVIDIA | Tech/Cloud | Middleware/Tools | $1-5M | 2025 | likely |
| IonQ | Oak Ridge National Laboratory (DOE) | Government | Cloud QPU Time | $1-5M | 2025 | confirmed |
| IonQ | AstraZeneca | Pharma/Healthcare | Algorithm Development | $1-5M | 2025 | confirmed |
| IonQ | Hyundai Motor Company | Automotive | Algorithm Development | $1-5M | 2025 | confirmed |
| Infleqtion | Safran Electronics & Defense | Aerospace/Defense | Hardware Access | $1-5M | 2025 | estimated |
| Infleqtion | Voyager Technologies | Aerospace/Defense | Hardware Access | $1-5M | 2025 | estimated |
| D-Wave Quantum | Carahsoft Technology (U.S. Government Aggregator) | Government | SaaS Platform | $1-5M | 2025 | confirmed |
| Multiverse Computing | PwC Spain | Finance | SDK/License | $1-5M | 2025 | confirmed |
| Multiverse Computing | EY | Finance | SDK/License | $1-5M | 2025 | confirmed |
| Quantum Machines | MIT (William D. Oliver group) | Academic/Research | Hardware Access | $1-5M | 2025 | confirmed |
| Quantum Machines | Diraq | Tech/Cloud | Hardware Access | $1-5M | 2025 | confirmed |
| Xanadu | Rolls-Royce | Aerospace/Defense | SaaS Platform | $1-5M | 2025 | confirmed |
| Xanadu | Corning | Tech/Cloud | Hardware Access | $1-5M | 2025 | confirmed |
| Xanadu | DISCO Corporation (Japan) | Tech/Cloud | Hardware Access | $1-5M | 2025 | confirmed |
| QuEra Computing | Merck | Pharma/Healthcare | Cloud QPU Time | $1-5M | 2025 | confirmed |
| QuEra Computing | Amgen | Pharma/Healthcare | Cloud QPU Time | $1-5M | 2025 | confirmed |
| QuEra Computing | Deloitte Japan | Other | Consulting/Services | $1-5M | 2025 | confirmed |
| QuEra Computing | Dell Technologies | Tech/Cloud | Hardware Access | $1-5M | 2025 | confirmed |
| Classiq | Sumitomo Corporation + Mizuho-DL Financial Technology | Finance | SaaS Platform | $1-5M | 2025 | confirmed |
| Classiq | SoftBank | Tech/Cloud | SaaS Platform | $1-5M | 2025 | confirmed |
| Classiq | AWS Marketplace | Tech/Cloud | SaaS Platform | $1-5M | 2025 | confirmed |
| Classiq | HSBC | Finance | SaaS Platform | $1-5M | 2025 | confirmed |
| Q-CTRL | Lockheed Martin / U.S. Defense Innovation Unit | Aerospace/Defense | Consulting/Services | $1-5M | 2025 | confirmed |
| Q-CTRL | Airbus | Aerospace/Defense | Algorithm Development | $1-5M | 2025 | confirmed |
| Q-CTRL | QuantWare / Qblox | Tech/Cloud | Middleware/Tools | $1-5M | 2025 | confirmed |
| Pasqal | EDF (Electricite de France) | Energy/Utilities | Algorithm Development | $1-5M | 2025 | confirmed |
| Pasqal | Dunamu & Partners (Korea) | Finance | Consulting/Services | $1-5M | 2025 | confirmed |
| Pasqal | OVHcloud | Tech/Cloud | Cloud QPU Time | $1-5M | 2025 | confirmed |
| Oxford Quantum Circuits (OQC) | Kvantify (Denmark) | Tech/Cloud | Algorithm Development | $1-5M | 2025 | confirmed |
| Oxford Quantum Circuits (OQC) | Riverlane | Tech/Cloud | Middleware/Tools | $1-5M | 2025 | confirmed |
| Oxford Quantum Circuits (OQC) | Fraunhofer EMFT | Academic/Research | Hardware Access | $1-5M | 2025 | confirmed |
| Oxford Quantum Circuits (OQC) | Oxford Instruments / Quantum Machines | Tech/Cloud | Hardware Access | $1-5M | 2025 | confirmed |
| Riverlane | Oxford Quantum Circuits (OQC) | Tech/Cloud | Middleware/Tools | $1-5M | 2025 | confirmed |
| Riverlane | Rigetti UK / NQCC (Innovate UK consortium) | Government | Middleware/Tools | $1-5M | 2025 | confirmed |
| Nu Quantum | National Grid Partners | Energy/Utilities | Hardware Access | $1-5M | 2025 | likely |
| Terra Quantum | Siemens Cre8Ventures | Automotive | SaaS Platform | $1-5M | 2025 | confirmed |
| Quantum Computing Inc | NASA Langley Research Center | Government | Consulting/Services | $100K-$1M | 2025 | confirmed |
| Quantum Computing Inc | NASA (5th task order) | Government | Consulting/Services | $100K-$1M | 2025 | confirmed |
| Quantum Computing Inc | NIST (U.S. Department of Commerce) | Government | Hardware Access | $100K-$1M | 2025 | confirmed |
| Quantum Computing Inc | Fortune 500 Science & Technology Company (undisclosed) | Aerospace/Defense | Hardware Access | $100K-$1M | 2025 | confirmed |
| Quantum Machines | Ecole Normale Supérieure de Lyon | Academic/Research | Hardware Access | $100K-$1M | 2025 | confirmed |
| Q-CTRL | Financial services company (undisclosed) | Finance | SaaS Platform | $100K-$1M | 2025 | confirmed |
| Terra Quantum | BBVA | Finance | Algorithm Development | $100K-$1M | 2025 | confirmed |
| Quantum Computing Inc | Top 5 U.S. Bank (undisclosed) | Finance | Security Solutions | <$100K | 2025 | confirmed |
| Nu Quantum | Quantum Datacenter Alliance (Cisco, NTT Data, Quantinuum, OQC, QphoX, QuEra) | Tech/Cloud | Consulting/Services | <$100K | 2025 | confirmed |
| PsiQuantum | Lockheed Martin | Aerospace/Defense | Consulting/Services | undisclosed | 2025 | confirmed |
| PsiQuantum | Australian Commonwealth & Queensland Governments | Government | Hardware Access | $100M+ | 2024 | confirmed |
| PsiQuantum | GLOBALFOUNDRIES | Tech/Cloud | Hardware Access | $50-100M | 2024 | estimated |
| Quantinuum | Mitsui & Co. (Japan/Asia-Pacific Distribution) | Other | Consulting/Services | $50-100M | 2024 | confirmed |
| IonQ | U.S. Air Force Research Laboratory (AFRL) | Aerospace/Defense | Hardware Access | $50-100M | 2024 | confirmed |
| IQM Quantum Computers | VTT Technical Research Centre of Finland | Academic/Research | Hardware Access | $50-100M | 2024 | confirmed |
| Riverlane | Planet First Partners / ETF Partners / EDBI (Singapore) | Finance | Consulting/Services | $50-100M | 2024 | confirmed |
| Atom Computing | Microsoft | Tech/Cloud | Hardware Access | $50-100M | 2024 | confirmed |
| Quantinuum | Infineon Technologies | Tech/Cloud | Hardware Access | $10-50M | 2024 | estimated |
| Quantum Machines | Israel Innovation Authority / IQCC | Government | Hardware Access | $10-50M | 2024 | confirmed |
| QuEra Computing | Japan AIST (National Institute of Advanced Industrial Science and Technology) | Government | Hardware Access | $10-50M | 2024 | confirmed |
| Pasqal | Aramco | Energy/Utilities | Hardware Access | $10-50M | 2024 | confirmed |
| Alice & Bob | Bpifrance / French State (France 2030) | Government | Consulting/Services | $10-50M | 2024 | confirmed |
| Nu Quantum | UK Government (Innovate UK / NQCC / NSSIF) | Government | Hardware Access | $10-50M | 2024 | confirmed |
| Quantinuum | JPMorgan Chase | Finance | Cloud QPU Time | $5-10M | 2024 | likely |
| IQM Quantum Computers | Hewlett Packard Enterprise (HPE) | Tech/Cloud | Hardware Access | $5-10M | 2024 | estimated |
| IQM Quantum Computers | South Korea (KIST/National Lab) | Government | Hardware Access | $5-10M | 2024 | likely |
| Photonic Inc | TELUS | Telecom | Hardware Access | $5-10M | 2024 | confirmed |
| QuEra Computing | UK NQCC (National Quantum Computing Centre) | Government | Hardware Access | $5-10M | 2024 | confirmed |
| Riverlane | UK National Security Strategic Investment Fund (NSSIF) | Aerospace/Defense | Middleware/Tools | $5-10M | 2024 | confirmed |
| PsiQuantum | Mitsubishi UFJ Financial Group (MUFG) & Mitsubishi Chemical | Finance | Algorithm Development | $1-5M | 2024 | confirmed |
| Quantinuum | Amgen | Pharma/Healthcare | Cloud QPU Time | $1-5M | 2024 | likely |
| SandboxAQ | U.S. Air Force (AFWERX) | Aerospace/Defense | Consulting/Services | $1-5M | 2024 | confirmed |
| SandboxAQ | SoftBank Corp. | Telecom | Security Solutions | $1-5M | 2024 | confirmed |
| Rigetti Computing | Amazon Web Services (AWS) | Tech/Cloud | Cloud QPU Time | $1-5M | 2024 | likely |
| Infleqtion | DARPA (IMPAQT Program) | Government | Algorithm Development | $1-5M | 2024 | confirmed |
| Infleqtion | NVIDIA | Tech/Cloud | Hardware Access | $1-5M | 2024 | estimated |
| Infleqtion | NASA | Government | Hardware Access | $1-5M | 2024 | likely |
| Infleqtion | UK Government | Government | Hardware Access | $1-5M | 2024 | likely |
| IQM Quantum Computers | AWS (Amazon Braket) | Tech/Cloud | Cloud QPU Time | $1-5M | 2024 | likely |
| D-Wave Quantum | NTT DOCOMO | Telecom | SaaS Platform | $1-5M | 2024 | confirmed |
| D-Wave Quantum | Lockheed Martin | Aerospace/Defense | SaaS Platform | $1-5M | 2024 | likely |
| Multiverse Computing | German Aerospace Center (DLR) | Aerospace/Defense | Algorithm Development | $1-5M | 2024 | confirmed |
| Quantum Machines | Rigetti Computing | Tech/Cloud | Hardware Access | $1-5M | 2024 | confirmed |
| Quantum Machines | Dell Technologies | Tech/Cloud | Middleware/Tools | $1-5M | 2024 | likely |
| Xanadu | Volkswagen | Automotive | SaaS Platform | $1-5M | 2024 | confirmed |
| Xanadu | Mitsubishi Chemical Group | Chemicals/Materials | SaaS Platform | $1-5M | 2024 | confirmed |
| Classiq | Mitsubishi Chemical + Deloitte Tohmatsu | Chemicals/Materials | SaaS Platform | $1-5M | 2024 | confirmed |
| Q-CTRL | UK Department for Transport / Network Rail | Government | Algorithm Development | $1-5M | 2024 | confirmed |
| Pasqal | IBM | Tech/Cloud | Algorithm Development | $1-5M | 2024 | confirmed |
| Oxford Quantum Circuits (OQC) | AVEVA (Schneider Electric subsidiary) | Energy/Utilities | Consulting/Services | $1-5M | 2024 | confirmed |
| Riverlane | Rigetti Computing | Tech/Cloud | Middleware/Tools | $1-5M | 2024 | confirmed |
| Riverlane | Oak Ridge National Laboratory (ORNL) / Rigetti | Government | Consulting/Services | $1-5M | 2024 | confirmed |
| Nu Quantum | Cisco | Tech/Cloud | Hardware Access | $1-5M | 2024 | confirmed |
| PQShield | NIST (Standards Co-authorship) | Government | Consulting/Services | $1-5M | 2024 | confirmed |
| PQShield | Chevron Technology Ventures | Energy/Utilities | Security Solutions | $1-5M | 2024 | likely |
| D-Wave Quantum | Mastercard | Finance | SaaS Platform | $100K-$1M | 2024 | likely |
| D-Wave Quantum | Volkswagen | Automotive | SaaS Platform | $100K-$1M | 2024 | likely |
| Multiverse Computing | Iberdrola | Energy/Utilities | Consulting/Services | $100K-$1M | 2024 | likely |
| QuEra Computing | BCGX (Boston Consulting Group) | Other | Consulting/Services | $100K-$1M | 2024 | confirmed |
| Classiq | BMW Group | Automotive | SaaS Platform | $100K-$1M | 2024 | confirmed |
| Classiq | Rolls-Royce | Aerospace/Defense | SaaS Platform | $100K-$1M | 2024 | confirmed |
| Classiq | Citigroup | Finance | SaaS Platform | $100K-$1M | 2024 | confirmed |
| Classiq | Comcast | Telecom | SaaS Platform | $100K-$1M | 2024 | confirmed |
| Classiq | Toshiba | Tech/Cloud | SaaS Platform | $100K-$1M | 2024 | confirmed |
| Classiq | AQT (Alpine Quantum Technologies) | Tech/Cloud | Middleware/Tools | $100K-$1M | 2024 | confirmed |
| Q-CTRL | Rigetti Computing | Tech/Cloud | SDK/License | $100K-$1M | 2024 | confirmed |
| Q-CTRL | Oxford Quantum Circuits (OQC) | Tech/Cloud | SDK/License | $100K-$1M | 2024 | confirmed |
| Q-CTRL | Diraq | Tech/Cloud | SDK/License | $100K-$1M | 2024 | confirmed |
| Q-CTRL | Transport for New South Wales | Government | Algorithm Development | $100K-$1M | 2024 | confirmed |
| Oxford Quantum Circuits (OQC) | Q-CTRL | Tech/Cloud | SDK/License | $100K-$1M | 2024 | confirmed |
| Terra Quantum | US Air Force (SBIR) | Aerospace/Defense | Security Solutions | $100K-$1M | 2024 | confirmed |
| Quantum Computing Inc | NASA Goddard Space Flight Center | Government | Cloud QPU Time | <$100K | 2024 | confirmed |
| Alice & Bob | Classiq Technologies | Tech/Cloud | SDK/License | <$100K | 2024 | confirmed |
| Zapata AI / Zapata Quantum | D-Wave | Tech/Cloud | SDK/License | <$100K | 2024 | confirmed |
| PsiQuantum | DARPA (US2QC Program) | Aerospace/Defense | Consulting/Services | $10-50M | 2023 | confirmed |
| IonQ | U.S. Air Force Research Laboratory (AFRL) | Aerospace/Defense | Hardware Access | $10-50M | 2023 | confirmed |
| Quantum Machines | NVIDIA | Tech/Cloud | Hardware Access | $10-50M | 2023 | confirmed |
| Photonic Inc | Microsoft | Tech/Cloud | Hardware Access | $10-50M | 2023 | confirmed |
| Photonic Inc | UK Government (NSSIF) | Government | Hardware Access | $10-50M | 2023 | confirmed |
| Quantinuum | HSBC | Finance | Security Solutions | $5-10M | 2023 | likely |
| Pasqal | GENCI (French national HPC) | Government | Hardware Access | $5-10M | 2023 | confirmed |
| Oxford Quantum Circuits (OQC) | CESGA (Spanish supercomputing centre) | Academic/Research | Hardware Access | $5-10M | 2023 | confirmed |
| Oxford Quantum Circuits (OQC) | SBI Investment (Japan) | Finance | Hardware Access | $5-10M | 2023 | confirmed |
| Quantinuum | BMW Group & Airbus | Automotive | Cloud QPU Time | $1-5M | 2023 | confirmed |
| SandboxAQ | U.S. Air Force | Aerospace/Defense | Consulting/Services | $1-5M | 2023 | confirmed |
| SandboxAQ | DISA (Defense Information Systems Agency) | Government | Security Solutions | $1-5M | 2023 | confirmed |
| QuEra Computing | Amazon Web Services (AWS Braket) | Tech/Cloud | Cloud QPU Time | $1-5M | 2023 | confirmed |
| Q-CTRL | IBM Quantum | Tech/Cloud | SDK/License | $1-5M | 2023 | confirmed |
| Pasqal | Kipu Quantum | Tech/Cloud | Algorithm Development | $1-5M | 2023 | confirmed |
| Alice & Bob | Equinix | Tech/Cloud | Cloud QPU Time | $1-5M | 2023 | confirmed |
| Alice & Bob | Equinix UAE | Tech/Cloud | Cloud QPU Time | $1-5M | 2023 | confirmed |
| Multiverse Computing | BBVA | Finance | Algorithm Development | $100K-$1M | 2023 | confirmed |
| Multiverse Computing | Credit Agricole CIB | Finance | Algorithm Development | $100K-$1M | 2023 | confirmed |
| Multiverse Computing | BASF | Chemicals/Materials | Algorithm Development | $100K-$1M | 2023 | likely |
| Quantum Machines | University of Wisconsin-Madison | Academic/Research | Hardware Access | $100K-$1M | 2023 | confirmed |
| Quantum Machines | Weizmann Institute of Science | Academic/Research | Hardware Access | $100K-$1M | 2023 | confirmed |
| Quantum Machines | Seoul National University | Academic/Research | Hardware Access | $100K-$1M | 2023 | confirmed |
| Terra Quantum | Thales Group | Aerospace/Defense | Algorithm Development | $100K-$1M | 2023 | confirmed |
| Zapata AI / Zapata Quantum | BMW / MIT Center for Quantum Engineering | Automotive | Algorithm Development | $100K-$1M | 2023 | confirmed |
| Zapata AI / Zapata Quantum | Andretti Global | Other | SaaS Platform | $100K-$1M | 2023 | confirmed |
| Xanadu | Amazon Web Services (AWS Braket) | Tech/Cloud | Cloud QPU Time | $1-5M | 2022 | confirmed |
| PQShield | Microchip Technology | Tech/Cloud | SDK/License | $1-5M | 2022 | confirmed |
| SandboxAQ | Vodafone Business | Telecom | Security Solutions | $100K-$1M | 2022 | confirmed |
| SandboxAQ | Mt. Sinai Health System | Pharma/Healthcare | SaaS Platform | $100K-$1M | 2022 | confirmed |
| Multiverse Computing | Bosch Group | Automotive | Consulting/Services | $100K-$1M | 2022 | confirmed |
| Multiverse Computing | Bank of Canada | Finance | Algorithm Development | $100K-$1M | 2022 | confirmed |
| Terra Quantum | Volkswagen Data:Lab | Automotive | Algorithm Development | $100K-$1M | 2022 | confirmed |
| PQShield | Collins Aerospace (RTX) | Aerospace/Defense | Security Solutions | $100K-$1M | 2022 | confirmed |