Palantir Technologies (PLTR) has been a standout performer in 2025, with its shares rising nearly 80% so far this year. However, in the past three months, IonQ (IONQ) has gained even more momentum. The question is: will IonQ surpass Palantir in the second half of 2025?
Two Leading Technologies
Investors often succeed by identifying emerging leaders in new industries. IonQ and Palantir fit this profile well.
IonQ is a pioneer in quantum computing, a field based on complex physics principles like quantum entanglement, where particles remain connected regardless of distance.
Quantum computing promises breakthroughs in AI, climate science, and drug development. IonQ’s technology stands out for its low error rates and is accessible on the three largest cloud platforms, a unique position among competitors.
Palantir, on the other hand, leads in AI and data analytics software. Its Gotham and Foundry platforms help clients turn vast data into actionable insights. Palantir’s AI Platform uses large language models alongside these tools, while Palantir Apollo manages software updates for critical systems.
AI is already improving efficiency for many organizations, with future potential to create new products and automate complex tasks.
Comparing IonQ and Palantir
IonQ is much smaller, with a market value around $10 billion, compared to Palantir’s $319 billion. Both have strong clients: IonQ works with Accenture, Goldman Sachs, and Hyundai, while Palantir’s largest customer is the U.S. government, along with firms like AIG and Citigroup.
Financially, Palantir is far stronger. It earned $884 million in revenue in Q1 2025, a 39% increase year-over-year, while IonQ’s revenue was $7.6 million, down from last year. Palantir is profitable, reporting $214 million in earnings in Q1, whereas IonQ posted a $32.3 million loss.
However, IonQ has higher growth potential. It expects revenue to nearly double (98% growth) in 2025, while Palantir forecasts 36% growth. Both stocks trade at high valuations: IonQ’s price-to-sales ratio is 201, Palantir’s about 109. Palantir’s stronger growth and profitability might justify its valuation more.
Which Stock Will Lead?
Both stocks could continue rising in the second half of 2025, but they carry risks due to high prices. Palantir might outperform if it secures major contracts, such as one linked to a proposed missile defense system.
Still, IonQ has the potential to outpace Palantir if it meets its ambitious revenue goals. Success in quantum computing could make IonQ’s stock even hotter than recent months have shown.
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