Core Insights - D-Wave Quantum Inc. (NYSE:QBTS) has achieved significant milestones in national defense and academic partnerships, showcasing its advancements in quantum computing technology [2][3]. Group 1: Defense and Enterprise Milestones - D-Wave Quantum, in collaboration with Anduril Industries and Davidson Technologies, tested its Stride hybrid solver, achieving at least 10x faster time-to-solution for U.S. air and missile defense scenarios, improving threat mitigation by 9-12% and enabling interception of an additional 45-60 missiles in a 500-missile simulation [3]. - The company aims to expand its applications into logistics, cyber defense, and distributed manufacturing through these partnerships [3]. Group 2: Academic and Commercial Agreements - D-Wave Quantum has entered into a $20 million agreement with Florida Atlantic University (FAU) for the installation of an Advantage2 annealing quantum system, positioning FAU as a leader in quantum research and education in Florida [4]. - Additionally, the company secured a $10 million, two-year Quantum Computing as a Service (QCaaS) contract with a Fortune 100 enterprise, indicating a growing commercial adoption of its quantum annealing technology [5].

Core Insights - D-Wave Quantum has seen a significant increase in its stock price, rising approximately 1,600% over the past three years, driven by growing interest in quantum computing technology [1] - However, the stock has experienced a decline of about 38% over the last three months, raising questions among investors about the timing for potential investment [2] Group 1: Industry Outlook - Quantum computing is considered a transformative technology, with consulting firm McKinsey projecting its market size to reach $100 billion by 2035, indicating strong future growth potential [4] - The convergence of quantum computing and artificial intelligence (AI) is anticipated to create a significant tech megatrend in the coming years, further attracting investor interest [4] Group 2: Company Performance - D-Wave's revenue doubled in the third quarter of 2025, signaling positive growth, especially as other quantum computing firms struggle to increase their revenue [5] - The company has substantial cash reserves of $836 million, the highest in its history, which will support ongoing operations and research investments [6] - D-Wave's operating expenses were just over $30 million in the third quarter, allowing it to maintain operations for an extended period [6] - The acquisition of Quantum Circuits for $550 million is expected to accelerate D-Wave's development of commercially viable products [6] Group 3: Investment Considerations - Despite revenue growth, D-Wave's sales remain relatively small at $3.7 million in the third quarter, which may be a concern for potential investors [7]

Industry Overview - Quantum computing is emerging as a potential tech megatrend, with optimistic projections suggesting it could start delivering significant advancements within the next five years [1] - The technology utilizes qubits, which can exist in superposition, allowing for complex calculations that conventional computers cannot perform efficiently [2] Company Insights - D-Wave Quantum is a publicly traded company specializing in quantum computing, currently facing competition from larger firms like IBM and Alphabet [2][7] - D-Wave is focusing on quantum annealing technology, which aims to find near-optimal solutions for complex problems, making it suitable for logistics, manufacturing, machine learning, and finance [8] Market Potential - Potential applications for quantum computing include pharmaceutical drug discovery, materials science, logistics, and cybersecurity, with more applications likely to emerge as the technology matures [3] - D-Wave has made early sales of its quantum annealing devices, including a $20 million contract with Florida Atlantic University for an Advantage2 quantum annealing computer [9] Financial Performance - D-Wave's revenue surged 100% year over year in the third quarter, reaching $3.7 million, although this is small relative to its market cap of $7.9 billion [10] - The company's shares are trading at a high price-to-sales ratio of 286, compared to the S&P 500's average of 3.5, indicating a speculative valuation [10]

Core Insights - D-Wave Quantum Inc. (NYSE:QBTS) is identified as one of the 12 tech stocks with significant upside potential, with Wedbush raising its price target from $35 to $40 while maintaining a Buy rating [1] - The company announced a $10 million, two-year enterprise Quantum Computing as a Service (QCaaS) agreement with a Fortune 100 company, indicating growing commercial adoption [1] - Roth MKM also reiterated a Buy rating with a price target of $40, suggesting an 87% upside from current levels, which is above the median Wall Street analyst estimate [2] Company Overview - D-Wave Quantum Inc. specializes in delivering and developing quantum computing systems, services, and software on a global scale [3] - The company offers a suite of open-source tools called Ocean, along with Advantage and Advantage 2 quantum computers, Leap quantum cloud service, and secure access and data protection services [3] Recent Developments - Florida Atlantic University plans to install an Advantage2 quantum computer in 2026, showcasing the expanding interest in quantum technology [1] - D-Wave has expanded its hybrid solver capabilities and formed new defense-related collaborations, indicating progress in its technological roadmap [1]

Group 1 - D-Wave Quantum Inc. (NYSE:QBTS) is recognized as a high-potential stock, with Needham's analyst reiterating a "Buy" rating and a price target of $48 [1][2] - The acquisition of Quantum Circuits enhances D-Wave's competitive position in quantum computing, enabling the development of quantum computers with thousands of qubits through dual-rail qubits and advanced cooling systems [2][3] - D-Wave is now the first and only dual-platform quantum computing company globally, offering both annealing and gate-model quantum computing systems to address a wide range of complex computational challenges [3][4] Group 2 - D-Wave Quantum develops and delivers quantum computing systems, software, and services, focusing on best-in-class annealing and gate-model technologies [4]

Core Insights - D-Wave Quantum has reported significant advancements in its business, including a $10 million enterprise agreement with a Fortune 100 company and a $20 million sale of a quantum computer to Florida Atlantic University, totaling $30 million in new bookings for January 2026 [3][4]. Business Developments - The company has completed the acquisition of Quantum Circuits, enhancing its capabilities with revolutionary gate model technology, making it the only dual-platform quantum computing company that supports both annealing and gate approaches [4][16]. - D-Wave is establishing a new R&D center in Boca Raton, Florida, and has moved its corporate headquarters from Palo Alto, California, indicating a strategic shift to enhance its business operations [18]. Market Position - D-Wave is positioned as a leader in the quantum computing space, being the only company that provides both annealing and gate model quantum computers, which allows it to cater to a wide range of applications [14][16]. - The company is currently working with several large corporations, including a major US airline and a leading chemical company, indicating a strong demand for its quantum computing solutions [7]. Financial Performance - The stock of D-Wave has seen a significant increase, with a reported rise of over 300% in the past year, reflecting positive market sentiment and analyst support [11]. - Analysts have issued buy ratings for the stock, with targets set at $48 and $35, further indicating confidence in the company's growth potential [9]. Applications and Use Cases - The enterprise agreement with the Fortune 100 company is a two-year contract valued at $10 million, aimed at addressing complex business optimization problems across various applications, including workforce scheduling and manufacturing optimization [5][10]. - D-Wave's collaboration with Anderol and Davidson Technologies focuses on missile defense applications, showcasing the potential of quantum computing in national security [12][13].

CP Group Secures Global Headquarters Relocation of Quantum Computing Pioneer D-Wave to Its Boca Raton Innovation Campus (BRiC)Jan 28, 2026 3:00 PM Eastern Standard Time# CP Group Secures Global Headquarters Relocation of Quantum Computing Pioneer D-Wave to Its Boca Raton Innovation Campus (BRiC)Share---BOCA RATON, Fla.--([BUSINESS WIRE])--CP Group, an owner-operator of office properties across the Sunbelt, along with [DRA Advisors], today announced it has signed a landmark lease agreement with D-Wave Quantu ...

Industry Overview - Quantum computing is an emerging technology with the potential to perform computations beyond the capabilities of conventional supercomputers, potentially leading to breakthroughs across various industries [1] - The quantum computing market is projected to reach an annual value of $100 billion by 2035, according to research from McKinsey & Company [5] Company Analysis: D-Wave Quantum - D-Wave Quantum has experienced significant volatility in its stock price, ranging from $4 to $46 over the past year, and is currently trading in the middle of that range [2][3] - The company employs a unique approach called quantum annealing, which focuses on finding solutions that are close to optimal rather than perfectly optimal, making it suitable for complex real-world problems [6] - D-Wave Quantum is expanding its capabilities by acquiring a rival that develops gate-model quantum computing systems, aiming to develop both quantum annealing and gate-model systems concurrently to capture a larger market share [7] Financial Performance - D-Wave Quantum's financial outlook is modest, with Wall Street analysts expecting revenues of just under $40 million in 2025 and approximately $78 million in 2026 [8]

Core Insights - The long-term potential for quantum computing is overshadowed by the more immediate opportunities presented by artificial intelligence (AI) [1] - Despite significant short-term gains in quantum computing stocks, the outlook for 2026 is tempered by several challenges [3] Group 1: Market Performance - In mid-October, trailing 12-month returns for quantum computing stocks such as IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. reached as high as 6,200% [2] - Investors are experiencing FOMO as Wall Street's major stock indexes hit new highs, leading to hopes for continued performance in quantum computing stocks [3] Group 2: Technological Challenges - Quantum computers are still years away from being able to solve practical problems cost-effectively compared to classical computers [4][8] - The technology is expected to mature over time, with analysts predicting a slow evolution rather than immediate breakthroughs [6][8] Group 3: Financial Viability - Pure-play quantum computing companies are currently relying on share-based dilution to raise capital, as traditional financial services are limited for early-stage companies [9][10] - In 2025, these companies collectively raised $4.15 billion through share offerings, which has implications for existing shareholders due to dilution [12][13] Group 4: Competitive Landscape - The barrier to entry in quantum computing is relatively low, which may threaten the first-mover advantage of companies like IonQ, Rigetti, and D-Wave [14][20] - Major tech companies, referred to as the "Magnificent Seven," are investing heavily in quantum computing, posing a competitive threat to smaller players [18][19]

Core Viewpoint - Quantum computing stocks faced sector-wide weakness due to global macro and geopolitical uncertainties, leading to a shift towards safe-haven assets and away from speculative quantum technology stocks [2] Group 1: Market Performance - D-Wave Quantum (QBTS) shares declined by 13.4% since January 23, 2026, while IonQ (IONQ) experienced a 12.1% pullback, reflecting a cooling sentiment towards high-valuation quantum stocks [3][10] - The durability of this pullback remains uncertain, but IONQ is seen as a leader in advanced technology, while QBTS is gaining attention for its near-term revenue visibility [5] Group 2: Company Insights - D-Wave Quantum (QBTS) - QBTS has entered 2026 with strong commercial adoption, generating revenues from production-ready quantum systems and cloud-based QCaaS offerings, supported by over 100 paying customers [6] - The company reported triple-digit revenue growth, expanding gross margins, and a cash balance exceeding $800 million at the end of Q3 2025, providing flexibility for scaling operations [7] - QBTS's loss per share estimate for 2026 has improved to 19 cents from a previous estimate of 23 cents, indicating a 7% improvement year-over-year [8] Group 3: Company Insights - IonQ (IONQ) - IONQ has shown strong momentum with 222% year-over-year revenue growth in Q3 2025, exceeding guidance by 37%, indicating accelerating commercial adoption [11] - The company achieved key technological milestones, including a world-record 99.99% two-qubit gate fidelity, and expanded its capabilities through strategic acquisitions [11] - IONQ's loss per share estimate for 2026 has widened to $1.74 from a previous estimate of $1.63, although this still reflects a 65.8% improvement from the year-ago projected EPS [12] Group 4: Valuation Comparison - QBTS currently trades at a forward 12-month Price-to-Sales (P/S) ratio of 188.2X, compared to IONQ's 72.5X, indicating a richer valuation for QBTS [13] Group 5: Investment Perspective - D-Wave Quantum appears better positioned than IonQ despite its higher valuation, supported by near-term revenue visibility and improving loss estimates [14] - IONQ is more sensitive to valuation resets, with widening loss estimates and returns heavily reliant on future milestones rather than current monetization [14]