While the artificial intelligence (AI) race is still ongoing, another arms race is emerging: quantum computing. Quantum computing could represent a significant technological leap, enabling the rapid and efficient solution of problems that were previously unsolvable. Given the promise of this technology, it's no surprise that multiple competitors have emerged in the quantum computing arena, ranging from established big tech companies to fledgling start-ups.

While the big tech companies may be safer bets, their upside is capped even if they succeed by dominating the quantum computing marketplace. However, the quantum computing start-ups are intriguing, as they are primed for massive gains if one of them develops the winning technology. One of my favorites in this space is IonQ (IONQ -1.66%), and now appears to be a once-in-a-lifetime opportunity to invest in the stock.

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IonQ's differentiating technology makes it an intriguing investment opportunity

IonQ is a quantum computing pure play. If it succeeds, the stock is expected to deliver impressive shareholder returns. If it loses, the stock will likely become worthless. This is the first key point about investing in a stock like IonQ: Investors must be aware of the risk. To compensate for this risk profile, investors should only devote a small portion of their portfolio (no more than 1%) to a stock like this; that way, you can benefit if the stock rises massively or are hardly affected if it goes to zero.

There is significant upside to IonQ's stock, given that it's only an $11 billion company yet competes in a market that could be worth $87 billion by 2035. That's huge projected growth, and if IonQ can capture a sizable portion of that market, the stock is poised for significant upside.

The reason I prefer IonQ over other pure-play quantum computing companies is that it's taking a unique approach. While most companies in the quantum computing realm employ a superconducting technique, which involves cooling a particle to near absolute zero, IonQ utilizes a trapped ion approach. IonQ's trapped ion approach can be performed at room temperature, which represents a significant cost advantage. Cooling particles to absolute zero is incredibly expensive and could be a cost-prohibitive factor for the widespread deployment of quantum technology.

This gives IonQ a competitive edge, making it an intriguing pick. But the trapped ion approach also has another advantage.

The trapped ion approach could be a more accurate computing method

It's well known in the quantum computing industry that allowing qubits to interact with each other creates a more accurate solution. Superconducting platforms capitalize on this fact by arranging qubits in a grid-like system. The trapped ion approach takes this a step further by allowing every qubit within the system to interact with each other. This advantage could enable IonQ to achieve a two-qubit gate fidelity greater than 99.9%, a common measure of a quantum calculation's accuracy.

This is one of the key holdups with quantum computing, as it isn't as accurate as traditional computing right now. With each iteration, these quantum computers are becoming more accurate and will eventually reach a point where the information they provide is commercially viable. This will be the key turning point, with most estimating it will come around the year 2030. That's not far away, and IonQ is just one big announcement away from having its stock soar and never return to its current price point.

However, the trapped ion approach may have inherent flaws that aren't yet known, which could render IonQ a dead end in the quantum investment world. As a result, investors need to keep any position in the company small, as discussed above.

IonQ's unique approach sets it apart from other quantum computing investment options, making it a smart choice for a quantum computing stock pick today.