Investors are always on the lookout for the next big thing in technology, and this time around, it may be quantum computing. It offers us an enormous step up from classical computing, allowing us to solve many of today’s impossible problems. While classical systems use bits to store information in the form of a zero or a one, quantum computers use qubits, storing information as a zero, a one, or both. With the ability to scale up exponentially, these qubits can tackle problems better and faster than current methods.

While quantum computing hasn’t yet reached the stage of being broadly useful, it may reach that goal in the coming years. Tech giants such as Alphabet and International Business Machines are involved in the quantum computing race, and so are smaller companies, ones that specialize in this technology.

And that leads me to the subject of IonQ (IONQ -6.22%) and Rigetti Computing (RGTI -5.16%), two pure plays that are making great progress in the space and already generate revenue thanks to their quantum computing platforms. Which is the better one to own for the next five years? Let’s find out.

The case for IonQ

IonQ uses trapped ion technology to produce its qubits, and this involves transforming an atom into an ion, holding it in place with an electromagnetic force, and using lasers to manipulate the ion as part of the calculation process. The company doesn’t use just one qubit, but many, and one of its main goals is scaling up. This year, it unveiled its 256-qubit computer and aims to grow this to two million qubits by 2030.

Last year, IonQ reached a significant milestone, achieving 99.99% two-qubit gate fidelity for a world record in quantum computing error correction. This is key because accuracy is a challenge in quantum computing, and error correction is a main point of focus for all companies involved in the field. Accuracy is a strength of the trapped ion method, though it isn’t as fast as the superconducting technique used by Rigetti.

IonQ is experiencing tremendous growth, as we can see through its latest earnings report. In the second quarter, revenue soared 287% to $80 million. And this was driven by a record number of quantum computing deployments.

The case for Rigetti

Rigetti, as mentioned, uses the superconducting technique, etching superconducting materials on a silicon chip. This method is known for its speed, with Rigetti’s Cepheus-1-108Q operating at a 60-nanosecond gate speed, but accuracy falls short of that achieved by the trapped ion method.

Another Rigetti strength is its vertical integration, producing its own chips and offering them to customers through its own cloud and public cloud service providers. This offers the company more control over costs and the production timelines for its hardware.

Like IonQ, Rigetti already is serving customers — in fact, it’s been offering quantum computers through the cloud since 2017. In the latest quarter, Rigetti’s revenue soared 185%, so growth is strong, but the revenue level of about $5 billion is significantly lower than that of IonQ. And one particular risk is that more than 90% of Rigetti’s revenue comes from government contracts.

Rigetti, however, may be positioned for significant growth and accomplishments in the next few years. It recently said it’s on track to operate systems of 1,000 qubits, at about 99.9% two-qubit gate fidelity, and at gate speeds of less than 50 nanoseconds in the coming three years.

Which quantum pure play is the better buy?

Both of these players are making significant progress in quantum computing and may score a win over the long run. There is room for more than one company and technique to become successful. And both of these stocks have fallen more than 30% so far this year, offering investors interesting buying opportunities.

But the better buy for the coming five years may be IonQ. The company offers less risk than Rigetti, has demonstrated impressive growth in recent times, and has a strong balance sheet with $3 billion in cash to power future growth. So there’s reason to be optimistic about this exciting quantum pure play over next few years and beyond.