A critique of D-Wave Quantum Inc. QBTS, amplified by ‘Pharma Bro’ Martin Shkreli, is challenging the company’s viability, alleging its technology is a potential “dead-end.”Citing multiple research papers, the viral analysis on X makes the shocking claim that it would take D-Wave’s quantum annealer until 2054 to match the current performance of existing classical solvers, raising serious questions about its claimed quantum advantage.Check out D-Wave’s stock price here. ‘No Plausible Path’ For QBTS Tech To Be ...

Core Viewpoint - D-Wave Quantum Inc. is facing significant scrutiny regarding its technology's viability, with claims that its quantum annealer may not achieve competitive performance until 2054, raising doubts about its quantum advantage [1][2]. Performance Comparison - A benchmark study from the Jülich Supercomputing Centre indicates that D-Wave's technology is consistently outperformed by conventional solvers like VeloxQ, which utilize standard CPUs and GPUs [2]. - D-Wave's latest hardware has been reported to underperform against competitors such as Fujitsu's Digital Annealer and even free optimization software like Gurobi and CPLEX [4]. DARPA Initiative - The company reportedly did not qualify for the initial stage of DARPA's Quantum Benchmarking Initiative, suggesting a lack of a viable path for its technology to become useful [3]. Management Critique - Allegations have been made against D-Wave's management for misleading practices, including the promotion of a research paper on "Scaling Advantage" that was allegedly debunked shortly after publication [5]. Emerging Technologies - The analysis highlights the rise of new technologies, specifically "p-computers," which are claimed to be millions of times more powerful and efficient than D-Wave's offerings, indicating that D-Wave's technology may be obsolete [6]. Stock Performance - Despite the negative analysis, D-Wave's stock (QBTS) saw an increase of 11.91% on a recent Friday, closing at $26.88 per share, with a year-to-date increase of 179.71% and a staggering 2,886.67% rise over the year [7].

Core Insights - IonQ is aggressively acquiring companies to enhance its technology and aims to lead in quantum computing-based internet development [1] - Since its IPO, IonQ's sales have nearly doubled annually, with projected revenue for 2025 between $82 million and $100 million, up from $43.1 million in 2024 [2] - IonQ's qubit technology, based on individual ions, allows operation at room temperature, contrasting with IBM's superconducting qubits that require cryogenic conditions [3][4] Company Performance - IonQ's operating loss in Q2 was $160.6 million, significantly higher than the $48.9 million loss from the previous year, raising concerns about long-term sustainability if costs continue to rise [6] - IonQ conducted a $1 billion secondary equity offering, resulting in cash and investments totaling $1.6 billion, which should support operations temporarily [7] Competitive Landscape - IBM's quantum computing technology is based on superconducting qubits, which are more mature and scalable due to compatibility with semiconductor manufacturing [8][9] - IBM's overall revenue increased by 8% year-over-year to $17 billion, with its generative AI business growing from $2 billion in 2024 to $7.5 billion [10] - IBM anticipates its free cash flow for 2025 to exceed $13.5 billion, indicating strong financial health to support its quantum computing initiatives [11] Future Outlook - IBM predicts achieving "quantum advantage" by the end of 2026, a milestone where quantum computers outperform classical ones in practical applications [12] - The transition to widespread commercial use of quantum computers may not occur until 2040, posing a risk for IonQ if it cannot manage its operating costs effectively [14] - IBM's consistent free cash flow and dividend payments make it a more stable investment compared to IonQ, which does not offer dividends [15]

Plus, Waymo's new robotaxi rival, Meta's internal AI tension and Saudi Arabia's solar shift, in this edition of The Future of Everything newsletter. ...

Summary of IonQ 2025 Analyst Day Company Overview - **Company**: IonQ (NYSE: IONQ) - **Industry**: Quantum Computing and Networking Key Points and Arguments 1. **Market Leadership**: IonQ claims to have led the quantum computing market for nearly thirty years and aims to continue this leadership for the next thirty years [2][4][8] 2. **Technological Advancements**: The company has demonstrated Quantum Advantage twice in 2025 with partners like NVIDIA and AstraZeneca, showcasing significant progress in quantum computing capabilities [4][25] 3. **Regulatory Approval**: IonQ has received regulatory approval for its merger with Oxbryonics, which is expected to enhance its technological roadmap and market position [5][9] 4. **Patent Portfolio Growth**: IonQ's patent portfolio has grown from approximately 35 patents at IPO to 1060 patents, indicating strong innovation and intellectual property development [6] 5. **Error Correction and Fidelity**: IonQ emphasizes its superior hardware that minimizes the need for error correction, achieving high fidelity records in quantum computing [7][15] 6. **Computational Space**: The AQ64 system prototype is reported to be 36 times larger in computational space than any system IBM has publicly unveiled, highlighting IonQ's technological edge [8][16] 7. **Cost Efficiency**: IonQ claims its cost of goods sold for a fully fault-tolerant system is under $30 million, significantly lower than competitors, which are described as orders of magnitude more expensive [15][67] 8. **Future Roadmap**: IonQ plans to deliver 2 million physical qubits by the end of the decade, which is five years ahead of competitors [46][47] 9. **Quantum Networking**: The company is also focusing on quantum networking, which is seen as essential for cybersecurity in the face of evolving threats from quantum computing [30][88] Additional Important Content 1. **Sovereignty in Computing**: IonQ highlights the growing demand for sovereign systems in quantum computing, which aligns with geopolitical trends favoring national control over technology [14] 2. **Quantum AI and Machine Learning**: The potential for quantum machine learning and AI is emphasized, with expectations of significant cost advantages over classical systems [28][29] 3. **Strategic Talent Acquisition**: IonQ has recruited top talent from various sectors to drive technical and commercial advancements, enhancing its competitive position [20] 4. **Benchmarking and Performance Metrics**: IonQ is anchoring its roadmap against benchmarks like algorithmic qubits, which measure the number of useful qubits in a system [42] 5. **Quantum Security Solutions**: The acquisition of ID Quantique is aimed at enhancing quantum security solutions, addressing the urgent need for robust cybersecurity in a quantum future [87][88] Conclusion IonQ is positioned as a leader in the quantum computing and networking industry, with a strong focus on technological advancements, cost efficiency, and strategic partnerships. The company is preparing for significant growth and market expansion in the coming years, driven by its innovative technologies and a robust roadmap.

Core Viewpoint - IBM is competing with Google, Amazon, Microsoft, and several startups to develop the first viable quantum computer [1] Company Summary - IBM is positioning itself as a leader in the quantum computing race, indicating a strong commitment to advancing this technology [1] - The competition includes major tech companies and startups, highlighting the significance and urgency of achieving breakthroughs in quantum computing [1] Industry Summary - The quantum computing industry is rapidly evolving, with multiple players vying for dominance, which could lead to significant advancements in computational capabilities [1] - The race for quantum computing is indicative of broader trends in technology innovation and investment, as companies seek to leverage quantum capabilities for various applications [1]

COLLEGE PARK, Md.--(BUSINESS WIRE)--IonQ (NYSE: IONQ), the leader in the quantum computing and networking industries, today announced the organization of IonQ Federal aimed at integrating IonQ's proprietary technologies to serve the U.S. government and its allies. IonQ continues to meet the growing need for quantum advantage in the federal and defense sectors, with some of its largest contracts and partnerships actively advancing national security programs in the U.S. Unifying the company's gov. ...

Core Insights - Rigetti Computing (RGTI) is focusing on chiplet technology to enhance the scalability of quantum computers, recently launching the Cepheus-1-36Q system which has achieved significant performance improvements [1][6] - The company aims to develop a 100-plus qubit system with high fidelity by the end of 2025, while also improving gate speeds [1][2] Company Developments - The Cepheus-1-36Q system has halved error rates compared to previous designs and achieved 99.5% two-qubit gate fidelity [1][6] - Rigetti raised $350 million in Q2, ending the quarter with $571.6 million in cash and no debt, despite a revenue decline to $1.8 million from $3.1 million due to delays in U.S. government funding [2][6] - The company emphasizes that achieving technology milestones is more critical than immediate sales at this stage [2] Industry Context - D-Wave Quantum (QBTS) is advancing its annealing-based systems and focusing on hybrid solvers, while also expanding customer adoption through cloud services [3] - Quantum Computing Inc. (QUBT) is making strides in software tools and middleware for different quantum hardware platforms, investing in photonic-based quantum initiatives [4] Financial Performance - Rigetti's stock has decreased by 0.7% year-to-date, contrasting with the industry growth of 21.4% [5] - The company has a price-to-book ratio of 7.96, which is above the industry average, and carries a Value Score of F [7] - The Zacks Consensus Estimate for Rigetti's 2025 earnings suggests an 86.1% increase from the previous year [9]

Core Insights - Rigetti Computing (RGTI) is facing short-term revenue challenges with a second-quarter 2025 revenue of $1.8 million, down from $3.1 million the previous year, and a gross margin decrease to 31% from 64% due to lower-margin government contracts [1][8] - The company raised $350 million through an equity offering, ending the quarter with $571.6 million in cash and no debt, providing financial flexibility for ongoing investments in research and development [1][10] Financial Performance - Revenue for Q2 2025 was $1.8 million, a decline from $3.1 million, with gross margin narrowing to 31% [8] - In 2025, Rigetti is expected to experience a 19.7% decline in revenues, while earnings per share are projected to improve by 86.1% year over year, although still remaining negative [11] Innovation and Technology - Rigetti introduced the Cepheus-1-36Q, the largest multichip quantum computer to date, achieving a two-fold reduction in error rates compared to its predecessor, with a median two-qubit gate fidelity of 99.5% [2][9] - The company aims to deliver a 100-plus qubit chiplet-based system by year-end, focusing on scaling toward quantum advantage [2][9] Competitive Landscape - Rigetti's strategy in superconducting qubits differentiates it from peers like Arqit Quantum, D-Wave Quantum, and Quantum Computing Inc., which are pursuing alternative paths [3] - The company's progress in chiplet technology is expected to improve manufacturing yields and reduce complexity, paving the way for larger, more reliable quantum systems [9] Market Position and Stock Performance - RGTI shares have gained 9.1% year-to-date, outperforming some competitors, while the broader Zacks Internet - Software Industry has advanced 22.9% [4] - Despite the positive stock performance, Rigetti's price-to-book (P/B) ratio stands at 8.74X, higher than the industry average of 7.08X, indicating potential overvaluation [15] Challenges and Future Outlook - Rigetti's financial performance is heavily dependent on government funding cycles, with recent revenue declines attributed to the expiration of the U.S. National Quantum Initiative [14] - To sustain long-term growth, the company needs to broaden its revenue base beyond government contracts and convert technological advancements into recurring commercial opportunities [14]

Core Viewpoint - Rigetti Computing, Inc. reported second-quarter results with losses of 13 cents per share, missing analyst expectations of 6 cents, and revenue of $1.8 million, below the consensus estimate of $1.88 million, and down from $3.086 million year-over-year [1] Group 1: Financial Performance - Quarterly losses were reported at 13 cents per share, missing the analyst consensus estimate of 6 cents [1] - Revenue for the quarter was $1.8 million, which fell short of the analyst consensus estimate of $1.88 million and decreased from $3.086 million in the same period last year [1] Group 2: Analyst Outlook - Despite the financial miss, Wall Street analysts maintained a bullish outlook, citing progress on Rigetti's technology roadmap [2] - Analyst N. Quinn Bolton reiterated a Buy rating with a price forecast of $18, highlighting that Rigetti met its mid-year goal with a four-chiplet, 36-qubit QPU achieving 99.5% median two-qubit fidelity [3][4] - Analyst David Williams also reiterated a Buy rating, raising the price forecast to $20 from $14, noting that Rigetti is on track to deliver a 100-qubit, multi-chiplet QPU with 99.5% two-qubit gate fidelity by year-end [7][8] Group 3: Technological Advancements - Rigetti's four-chiplet, 36-qubit QPU reached a median two-qubit fidelity of 99.5%, strengthening management's confidence in delivering a >100-qubit system by year-end [4] - The company is positioned to benefit from advancements in quantum computing, with expectations to scale qubit count to the hundreds and improve fidelity to 99.9% by 2026 [6] - Rigetti's roadmap includes a target of a 1,000+-qubit system with 99.9% fidelity and built-in error correction, with a timeline of three to four years to reach that threshold [9][10] Group 4: Financial Position - Rigetti increased cash reserves by $350 million to approximately $570 million during the period, which is deemed sufficient for continued investment through commercialization [10] - The company’s long-term objective is to achieve a 1,000-qubit system targeting 99.9% fidelity, enabled by advancements in cabling, cryogenics, and chiplet density [10]