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 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]

Core Insights - D-Wave Quantum Inc. has announced a $10 million, two-year enterprise Quantum Computing as a Service (QCaaS) agreement with a leading Fortune 100 company [1] - The collaboration aims to develop and deploy several quantum-powered applications [1] - This agreement is significant as it highlights D-Wave's position as the only dual-platform quantum computing company, offering both annealing and gate-model systems [1]

Core Insights - Rigetti Computing (NASDAQ: RGTI) has seen a significant stock price increase of 15% on July 2, contributing to a nearly 70% rise over the past four months, following Cantor Fitzgerald's initiation of coverage with an Overweight rating and a $15 price target, indicating a potential further increase of about 19% from current prices [2][3] Company Overview - Rigetti specializes in quantum computing, developing superconducting quantum processors and offering cloud-based Quantum Computing as a Service (QCaaS) [4] - The company is advancing its technology with the Ankaa-3, an 84-qubit system, and aims to transition to multi-chip modules, targeting machines with over 100 qubits and the 336-Qubit Lyra by 2026 [4] Financial Performance - Despite technological advancements, Rigetti is still in the research and development phase, with CEO Subodh Kulkarni stating that commercial demand is expected to be 3–5 years away, and widespread adoption could take up to a decade [5] - The company reported a 50% year-over-year revenue decline in Q1 2025, with revenue at $1.5 million and operating losses of $21.6 million [6] Competitive Landscape - Rigetti's end-to-end approach provides flexibility in chip design and cloud access, enhancing its competitive position against rivals like IBM, IonQ, and Google [7] - The partnership with Quanta is expected to bolster commercialization potential, although competition is intensifying with advancements from Google's Willow chip and Amazon's Quantum Embark program [7] Investment Considerations - Rigetti is well-funded with over $575 million in cash, supported by a $350 million equity capital raise and a $250 million partnership with Quanta, and has no debt [6] - The company's valuation is notably high, trading at 478 times the expected sales for 2025, indicating a speculative investment environment [6][8]