D-Wave Quantum (QBTS) Jumps 19% as Firm Ramps Up Govt Deals

Core Insights - D-Wave Quantum Inc. (NYSE:QBTS) has seen a significant increase in share prices, growing by 19.1% week-on-week, driven by investor optimism regarding its new business unit focused on government contracts [1][3] - The stock experienced a rally for three consecutive days following the announcement of the new subsidiary, but faced profit-taking that led to a decline of 6.02% on Friday [2] - The intra-week high for D-Wave Quantum was recorded at 27.4%, indicating strong market interest [3] Company Developments - The newly formed subsidiary will be led by Jack Sears Jr., who has extensive experience in government and public sector business [3] - Jack Sears Jr. will also join the executive team of D-Wave Quantum as the vice president for US government solutions [3] - CEO Alan Baratz emphasized the increasing need for quantum technologies to address complex national challenges, highlighting the strategic importance of the new business unit [4] Market Context - The formation of the subsidiary is part of a broader trend where the U.S. government seeks advanced problem-solving resources to tackle national security, defense, and infrastructure issues [4]