D-Wave Quantum Acquires Quantum Circuits, Wins $100 Million U.S. Funding
Updated
Updated · The Motley Fool · Jul 9
D-Wave Quantum Acquires Quantum Circuits, Wins $100 Million U.S. Funding
2 articles · Updated · The Motley Fool · Jul 9
Summary
$100 million in U.S. government funding and D-Wave's early-2026 purchase of Quantum Circuits have strengthened its position in the quantum computing race.
The deal gives D-Wave a dual-platform strategy—adding gate-model computing to its quantum annealing business, which already serves more than 100 organizations through its Leap cloud platform.
2025 revenue jumped 178.5% to $24.6 million, far above Rigetti's $7.1 million, though D-Wave still posted a $355.1 million net loss and negative free cash flow of $75.8 million.
Rigetti, which focuses on general-purpose superconducting quantum systems, saw revenue fall 34.3% in 2025 and remains more exposed to government-contract concentration and execution risks.
Investors weighing the two companies face a trade-off between D-Wave's stronger commercial momentum and both firms' steep losses, rich valuations, and dependence on future quantum adoption.