D-Wave Quantum Shares Jump 50.3% in 3 Months as 'NVIDIA of Quantum' Bet Builds

1 articles · Updated · Zacks Investment Research · Jun 16

D-Wave Quantum has climbed 50.3% over the past three months, beating the broader technology sector’s 23.9% gain as investors increasingly treat it as a leading quantum-computing infrastructure play.
Management’s growth case rests on delivering at least two quantum systems in 2026, up from an earlier target of one annual sale, while its Quantum Circuits acquisition expands D-Wave beyond annealing into gate-model computing.
The company is also citing stronger enterprise interest in AI, optimization and blockchain uses, alongside record bookings and a larger backlog that support expectations for broader commercial adoption.
QBTS still trades at a steep 152.3x forward price-to-sales ratio versus 6.7x for the sector, leaving little room for execution missteps even as the stock holds above key 50-day and 200-day trend levels.
The rally reflects wider enthusiasm for quantum computing, helped by rising government support and enterprise spending, but the report says D-Wave still needs sustained revenue growth to justify its premium valuation.