Group 1 - D-Wave Quantum Inc. (NYSE:QBTS) is recognized as a strong buy stock, with an Outperform rating initiated by Wedbush on December 17 and a price target of $35, indicating potential for significant growth due to commercial adoption of its technology [1] - The company has received a bullish recommendation from Wedbush, highlighting its real-world advantages in optimization and a large addressable market across various industries, which enhances its investment appeal [2] - Jefferies initiated coverage on December 16 with a Buy rating and a price target of $45, noting that D-Wave Quantum is well-positioned to benefit from positive ecosystem trends and increased usage of quantum architectures [3] Group 2 - D-Wave Quantum Inc. specializes in the development and delivery of quantum computing systems, services, and software, providing access to its systems through cloud-based quantum computing as a service [4]

Core Insights - IonQ Inc. is recognized as a strong buy stock, particularly following its strategic partnership with the Korea Institute of Science and Technology Information (KISTI) and the upcoming delivery of a 100-qubit IonQ Tempo quantum system [1] Group 1: Strategic Partnership and Deliverables - The finalized agreement includes the delivery of the next-generation Tempo 100 quantum system to support KISTI's hybrid quantum-classical research initiatives, marking a significant milestone for South Korea's National Quantum Computing Center of Excellence [1] - The system will be integrated into KISTI-6, the largest high-performance computing (HPC) cluster in Korea, facilitating hybrid quantum-classical onsite integration [2] Group 2: Access and Collaboration - The compute cluster will be accessible through a secure private cloud environment, allowing remote access for South Korean universities, researchers, and enterprise users [2] - The collaboration with KISTI will enable the delivery of expertise, algorithms, and infrastructure necessary for deriving long-term technological and economic value from IonQ's leading quantum computers, as stated by the Chairman and CEO, Niccolo de Masi [3] Group 3: Development and Operations - KISTI will lead the development and operation of a quantum computing service and research platform, identifying IonQ as the primary quantum technology provider for the project, alongside Megazone Cloud, a prominent cloud service provider in South Korea [4] - IonQ specializes in the development and manufacturing of quantum computers, focusing on quantum computing and quantum information processing [5]

Group 1 - Quantum computing is a leading investment theme alongside artificial intelligence, attracting significant investor interest due to its potential to revolutionize the tech sector and the global economy [1] - Rigetti Computing (NASDAQ: RGTI) has experienced a remarkable increase of 2,500% since January 2024, with a current market cap of approximately $8 billion, indicating substantial growth potential if quantum computing gains traction [2] - The potential for Rigetti to transform a $10,000 investment into $1 million suggests a market cap increase to around $837 billion, highlighting the long-term investment horizon required for such returns [3][8] Group 2 - Rigetti's business model presents significant opportunities due to the ability of quantum computing to solve complex problems more efficiently, positioning the company at the forefront of the quantum computing revolution [5] - The quantum computing market is projected to reach $20 billion by 2030, a significant increase from nearly $3 billion in 2024, indicating growth potential despite the market still being relatively small [6] - Achieving a 100x return on investment for Rigetti may take decades, emphasizing the long-term nature of investments in this sector [7]

The investment outlook for 2026 remains very positive for D-Wave D-Wave Quantum Inc. ( QBTS ). With customers, production volumes, and year-over-year growth figures nearing triple digits, D-Wave is leading its competition in commercializing quantum while they are stillHi, I'm Yiannis. Spotting winners before they break out is what I do best.Experience: Previously worked at Deloitte and KPMG in external/internal auditing and consulting. Education: Chartered Certified Accountant, Fellow Member of ACCA Global, ...

Core Viewpoint - D-Wave Quantum Inc. announced a major merger agreement to acquire Quantum Circuits Inc. for $550 million, which includes $300 million in stock and $250 million in cash, aiming to strengthen its position in the quantum computing market [1] Strategic Rationale - The acquisition adds Quantum Circuits' error-corrected gate-model technology to D-Wave's commercial systems, which is expected to accelerate the development of larger, fault-tolerant quantum computers [2] - D-Wave aims to bring superconducting gate-model systems to market as early as 2026 [2] Technology Benefits - Quantum Circuits' dual-rail technology features built-in error detection and enhances qubit quality, potentially reducing the physical resources required to create logical qubits [3] - The merger is anticipated to expand the range of practical quantum applications [3] - D-Wave plans to establish an expanded R&D hub in New Haven, Connecticut, with Rob Schoelkopf, co-founder of Quantum Circuits, joining the initiative [3] Company Leadership Statements - D-Wave's CEO, Alan Baratz, stated that the company has solidified its position as a leader in superconducting quantum computing, and the merger will enhance both annealing and gate-model offerings [4] - Rob Schoelkopf emphasized that the deal brings fault-tolerant, scalable quantum computing closer to realization [4] Next Steps - The merger requires regulatory clearance and listing approval for shares on the NYSE, with an expected closing date in late January 2026 [5] - D-Wave plans to file a Form 8-K with the SEC to outline key terms of the transaction [5] - D-Wave Quantum shares rose 2.40% to $32.02 at the time of publication [5]

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Core Viewpoint - The combined entity, D-Wave, aims to introduce quantum computers to the market by 2026 [1] Company Summary - D-Wave is focused on the development and commercialization of quantum computing technology [1]

Core Insights - Hefei Data Asset Operation Company has launched the Hefei Quantum Fusion Computing Center, providing diverse quantum computing services globally [1] - The center utilizes the "Chao Lake Moon" supercomputer and includes two 180+ qubit superconducting quantum computers and one 12 qubit ion trap quantum computer, marking a significant advancement in localized quantum computing deployment in China [1] - The quantum fusion system integrates quantum and classical computing, enhancing problem-solving efficiency for complex issues [1] Group 1 - The Hefei Quantum Fusion Computing Center is the first localized platform in China supporting multiple technological routes in quantum computing [1] - The center has established high-speed interconnections with multiple quantum computers, indicating a new practical phase in quantum fusion computing in China [1] - The center aims to deepen application exploration and accelerate breakthroughs in practical scenarios, having already conducted scene verification in various fields [1] Group 2 - The superconducting quantum computer deployed by Keda Guandun Quantum Technology Co., Ltd. at the center has a scale and performance that meet international advanced standards [2] - The center provides quantum computing services to institutions such as the University of Science and Technology of China and the Chinese Academy of Sciences, supporting cutting-edge research in areas like new energy and materials [2] - The collaboration has led to significant progress in several frontier research projects, demonstrating the center's impact on scientific advancements [2]

Core Viewpoint - D-Wave Quantum has emerged as a leader in the quantum computing sector, with its stock surging nearly 200% over the past year, driven by industry trends and company-specific developments [1]. Industry Overview - The quantum computing industry gained momentum in late 2024 following Google's announcement of a new quantum chip, which sparked investor interest in potential commercialization [3]. - Speculation about U.S. government support for quantum technology, particularly in light of geopolitical concerns, has further fueled investor enthusiasm [4][5]. Company Positioning - D-Wave Quantum differentiates itself by focusing on quantum annealing, a specific technology for solving optimization problems, unlike competitors like Google and IBM that pursue general-purpose quantum computing [6]. - The company plans to adopt a "picks-and-shovels" strategy by selling pre-built quantum annealing devices to enterprise clients [7]. Financial Performance - D-Wave Quantum reported a 100% year-over-year revenue increase, reaching $3.5 million, with notable clients in both public and private sectors [8]. - Despite the growth, the company's revenue remains modest relative to its $10 billion market cap, and it reported a significant operating loss of $27.7 million in the third quarter [9]. - The company holds $836.2 million in cash and equivalents, providing a buffer against immediate financial distress, but lacks a clear path to profitability [9]. Future Outlook - The quantum industry is expected to continue generating hype in 2026, with ongoing technological advancements and potential government initiatives to maintain U.S. leadership [10]. - D-Wave's stock is currently valued at a high price-to-sales ratio of 383, significantly above the S&P 500 average of 3.4, suggesting that investors may need to be cautious before committing [11].

Core Insights - Investor optimism towards quantum computing is at a new high as of 2026, driven by technological advancements and strong stock performance in 2025 [1][5] - D-Wave Quantum (QBTS) saw a remarkable 211% increase in share price in 2025, while Rigetti Computing (RGTI) experienced a 45% gain, both outperforming NVIDIA's 38.8% increase [1][2][9] - The global quantum computing market is expected to grow from approximately $0.8 billion in 2025 to around $1.08 billion in 2026, indicating a robust CAGR of about 35% over the next decade [6][7] Company Performance - D-Wave Quantum reported a 100% year-over-year revenue growth and a 156% increase in gross profit, ending Q3 2025 with over $836 million in cash [9][12] - Rigetti Computing achieved 99.5% median two-qubit gate fidelity and increased cash resources to approximately $575 million, supporting its R&D and commercialization efforts [9][15] - Both companies are expected to see significant earnings and revenue growth in 2026, with D-Wave projected to grow earnings by 7% and revenue by 61.1%, while Rigetti is expected to see earnings growth of 74.3% and revenue growth of 197.6% [13][16] Market Trends - The quantum computing market is anticipated to witness a CAGR approaching 41.8% through 2030, driven by hardware deployments and expanding software ecosystems [7] - Major technology platforms like IBM and Google are making significant advancements in quantum hardware, which is crucial for the sector's growth [8][10] - The involvement of quantum enablers such as Intel and NVIDIA is increasing, providing essential infrastructure for the integration of quantum systems into practical applications [10][11]