Quantum computing is a revolutionary technology that allows for complex calculations to be performed at speeds that are well beyond what traditional computers can achieve. Thus, the technology is based on “the laws of quantum physics.”

Among the fields that can benefit tremendously from quantum computing are drug discovery, financial analysis, and nuclear fusion. Given the technology’s tremendous utility, the companies that are leaders in this space are likely to perform very well from a fundamentals and growth perspective. As a result, there are plenty of quantum computing stocks with high potential worth considering.

Importantly, the advent of other technologies, including artificial intelligence, is increasing the overall demand for computing power. This further enhances the longer-term potential of quantum computing overall.

With that said, here are three of the top quantum computing stocks to invest in, given their explosive upside potential.

IonQ (IONQ)

As I noted in a previous column, IonQ (NYSE:IONQ) markets hardware for quantum computing. Given that demand for IonQ’s products is growing rapidly, the company increased “its 2023 bookings growth guidance by 25% to a range of $45 million to $55 million. Additionally, I noted that “at the midpoint of the bookings guidance, it is expecting a 100% growth compared to last year’s bookings of $24.5 million.”

Moreover, the large Japanese tech investor, Softbank, obtained a large stake in IonQ in 2021, showing some faith in the firm and its offerings.

“There’s an exponential increase in the need for computational power, and quantum computing uniquely helps enable that,” one of the investor’s partners told The Wall Street Journal.

Impressively, IonQ’s CEO, Peter Chapman, before coming to the company, was “Director of Engineering” for Amazon’s (NASDAQ:AMZN) Amazon Prime. And, according to Chapman’s bio, he is “credited with inventing the original sound card for computers, writing the software the Federal Aviation Administration uses to prevent mid-air collisions, and developing systems that protect the integirty of finncial markets.”

So the CEO has a tremendous record of developing hugely useful computer products. As a result, I believe that IonQ will develop great offerings under his leadership.

Rigetti Computing (RGTI)

As another InvestorPlace columnist, Josh Enomoto, recently noted, “Rigetti Computing (NASDAQ:RGTI) develops quantum integrated circuits used for quantum computers.” It also develops quantum computers themselves.

Intriguingly, in addition to quantum computing, Rigetti intensively utilizes artificial intelligence.

Using these two technologies, Rigetti has developed a model that predicts “economic recession periods using cutting-edge quantum machine learning techniques.” Additionally, the company rightly asserts that quantum computing can enhance the performance of AI. Of course, making AI even more powerful would be a quite attractive feature for many businesses.

It should also be noted that Rigetti owns the intellectual property for “the hybrid quantum-classical approach that has become the predominant quantum computing architecture.” As quantum computing becomes more prevalent and mainstream, that asset should be extremely valuable.

Rigetti’s current market capitalization of $118.5 million far understates its long-term potential, in my view. This is a stock with explosive upside at current levels.

D-Wave Quantum (QBTS)

According to Seeking Alpha columnist Hensite Capital, D-Wave Quantum (NASDAQ:QBTS) “has the most experience assisting customers in resolving practical optimization problems that are challenging for computers. ” Moreover, D-Wave Quantum is “the only company with operational and commercial experience managing a large-scale quantum computing business.”

D-Wave says that it is the only firm offering a type of quantum computing called quantum annealing. During D-Wave’s first-quarter earnings call, held on May 19, CEO Alan Baratz said, “Companies are increasingly turning to [quantum annealing] to find solutions to their most computationally complex optimization problems. “

Among the issues being solved with the technology are “employee scheduling, factory process automation, fraud detection, (and) advertising optimization,” Baratz reported.

He added that, over the last year, the company’s sales to commercial customers had climbed an impressive 30%. Additionally, D-Wave’s bookings soared an incredible 297% last quarter versus the same period a year earlier.

Given the apparent great usefulness of D-Wave’s technology and its rapid growth, it’s one of the best quantum computing stocks to buy, hands-down.

On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.