# D-Wave Quantum stock, funding, and commercial growth

> Live situation record from CLSTR: https://clstr.news/situations/d-wave-quantums-share-price-swings-from-earnings-dip-to-governmentbacked-rally
> Updated: 2026-08-05T16:37:07.000Z. Sources: 208. Developments: 18.

Following the July 30 report of technical advances, D‑Wave’s market dynamics continued to oscillate. In mid‑May the company’s Q1‑2026 earnings triggered a 6.6 % share decline, while a U.S. government announcement of a $100 million investment later that month sparked a 33 % rally. Early June, the Department of Commerce’s CHIPS‑and‑Science Act program disclosed a $100 million equity letter for D‑Wave, lifting the stock nearly 50 % in May and prompting a brief 7.8 % pull‑back. The firm earned a Great Place to Work certification and disclosed a CFO share sale, and it highlighted a mining‑optimization use case that leverages its annealers for heavy‑industry scenario analysis.

A broader tech sell‑off on 7 June drove the stock down 20 % despite a record $33.4 million order backlog and $588 million cash position. Institutional buying and the same CHIPS‑Act funding later lifted the price about 35 % to a $9.1 billion market cap. Analyst downgrades and insider sales in late June trimmed gains, while a Trump‑administration order in late June underscored the firm’s continued unprofitability through 2030.

The National Science Foundation awarded a $1.57 million grant for fault‑tolerant research, and the U.S. CHIPS Act reaffirmed a $100 million intent‑to‑fund agreement, even as revenue remained 80.9 % below the prior year. In early July D‑Wave was named an IDC MarketScape Leader, with Advantage2 usage up 314 % YoY. The company announced a Nasdaq listing shift (effective 27 July) and, on 5 August, unveiled a strategic pivot to gate‑model dual‑rail qubits after acquiring Quantum Circuits Inc., targeting 100 logical qubits by 2032 and publishing a Nature paper on dual‑rail entanglement. Throughout, the stock has remained far below its October 2025 peak, reflecting high valuation multiples versus modest trailing revenue and ongoing market volatility.

## Timeline

### 2026-08-05: D-Wave shifts to gate-model quantum hardware with dual-rail qubits

D‑Wave, after buying Quantum Circuits, is moving from annealing to gate‑model quantum computers, targeting a dual‑rail processor in 2026 and 100‑qubit capability by 2032, with recent Nature‑published entangling

2 sources. https://clstr.news/cluster/d-wave-shifts-to-gate-model-quantum-hardware-with-dual-rail-qubits

### 2026-07-30: D-Wave Quantum pushes breakthroughs as shares tumble ahead of earnings

D‑Wave Quantum showcases major tech gains and a 240× speedup with AT&T, yet its shares have fallen over 36% as it prepares to report Q2 results on Aug 6.

2 sources. https://clstr.news/cluster/d-wave-quantum-pushes-breakthroughs-as-shares-tumble-ahead-of-earnings

### 2026-07-22: D-Wave Quantum moves to Nasdaq as shares stay far below record

D‑Wave Quantum shifts its listing to Nasdaq on 27 July; shares stay far below record levels despite record order intake and modest quarterly revenue.

2 sources. https://clstr.news/cluster/d-wave-quantum-moves-to-nasdaq-as-shares-stay-far-below-record

### 2026-07-15: Quantum Computing Firms Aqarios and D‑Wave Shift Stock Listings

Aqarios Quantum listed on Germany's Düsseldorf exchange after a $140 M SPAC deal, while D‑Wave Quantum will shift from NYSE to NASDAQ, keeping its ticker unchanged.

2 sources. https://clstr.news/cluster/quantum-computing-firms-aqarios-and-dwave-shift-stock-listings

### 2026-07-09: D-Wave Quantum Named IDC MarketScape Leader as Commercial Use Surges

D‑Wave Quantum was named a Leader in the 2026 IDC MarketScape, saw a 314% surge in Advantage2 usage and expanded its dual‑platform portfolio, while FY 2025 revenue hit $24.6 M with a $355 M net loss.

4 sources. https://clstr.news/cluster/d-wave-quantum-named-idc-marketscape-leader-as-commercial-use-surges

### 2026-07-04: D-Wave Quantum stock faces caution as quantum computing usefulness remains distant

D-Wave Quantum secures $30 million in new contracts but remains a high‑valued, low‑revenue stock; experts say useful quantum computers likely won’t appear until 2028.

3 sources. https://clstr.news/cluster/quantum-computing-firms-face-limited-revenue-prospects

### 2026-07-01: Quantum Computing Inc. posts revenue surge while D-Wave Quantum shares dip

Quantum Computing Inc. posted a Q1 revenue jump to $3.7 M and strong cash position, while D‑Wave Quantum reported lower revenue, a modest earnings beat, and a 4.1% stock decline amid analyst buy ratings and $35

2 sources. https://clstr.news/cluster/quantum-computing-inc-posts-revenue-surge-while-d-wave-quantum-shares-dip

### 2026-07-01: US CHIPS Act Boosts Quantum Firms D-Wave and IBM

U.S. CHIPS Act funding aids quantum players D‑Wave (despite a steep revenue drop) and IBM, which sees new AI and encryption contracts spurring growth.

6 sources. https://clstr.news/cluster/us-chips-act-fuels-quantum-push-for-dwave-and-ibm

### 2026-06-30: D-Wave Quantum secures $1.5 M NSF grant to advance fault‑tolerant quantum computing

D‑Wave Quantum receives a $1.5 M NSF grant for the Yale‑led ERA SE project, providing access to its dual‑rail gate‑model quantum computer to accelerate fault‑tolerant quantum research and workforce development.

2 sources. https://clstr.news/cluster/d-wave-quantum-secures-15-m-nsf-grant-to-advance-faulttolerant-quantum-computing

### 2026-06-24: US Quantum‑Tech Stocks D‑Wave and QuantumScape Experience Sharp Moves

D‑Wave stock fell 9% after a brief rally tied to a US quantum‑computing order, while QuantumScape rose 0.9% despite Jim Cramer’s criticism, buoyed by a Honda partnership.

2 sources. https://clstr.news/cluster/us-quantumtech-stocks-dwave-and-quantumscape-experience-sharp-moves

### 2026-06-22: D-Wave Quantum and Navitas Semiconductor Shares Slip Amid Analyst Downgrades

D-Wave Quantum fell 1% to $24.44 and Navitas Semiconductor slipped 1.3% to $23.70; analysts gave mixed ratings and insiders sold millions of shares in both firms.

2 sources. https://clstr.news/cluster/d-wave-quantum-and-navitas-semiconductor-shares-slip-amid-analyst-downgrades

### 2026-06-17: D-Wave Quantum shares surge after $100 million CHIPS Act funding and new institutional buys

D-Wave Quantum’s stock rose 35% after securing up to $100 million CHIPS Act funding and saw new institutional purchases totaling over $900 k, while reporting a quarterly loss and modest revenue.

2 sources. https://clstr.news/cluster/d-wave-quantum-shares-surge-after-100-million-chips-act-funding-and-new-institutional-buys

### 2026-06-07: D-Wave Quantum shares plunge 20% amid broad tech sell‑off and US inflation data

D‑Wave Quantum stock fell about 20 % as a tech sell‑off, spurred by Broadcom’s poor earnings and strong U.S. jobs data, pushes focus to upcoming U.S. CPI and Fed decisions.

2 sources. https://clstr.news/cluster/d-wave-quantum-shares-plunge-20-amid-broad-tech-selloff-and-us-inflation-data

### 2026-06-05: Quantum Computing Drives Mining Optimization and Shapes D‑Wave Stock Outlook

Quantum computing cuts mining schedule planning to hours, while D‑Wave outlines a roadmap to 181 qubits and faces volatile stock performance amid rising competition.

2 sources. https://clstr.news/cluster/quantum-computing-drives-mining-optimization-and-shapes-dwave-stock-outlook

### 2026-06-04: D-Wave Quantum wins Great Place to Work certification amid CFO share sale

D‑Wave Quantum earned Great Place to Work certification while its CFO sold 2,908 shares, slightly reducing his stake.

2 sources. https://clstr.news/cluster/d-wave-quantum-gains-great-place-to-work-certification-as-cfo-sells-shares

### 2026-06-03: US Federal Funding Propels D‑Wave Quantum Shares Up Nearly 50%

US federal funding of $100 million for D‑Wave Quantum sparked a near‑50% stock surge in May, despite earlier revenue decline; analysts remain bullish while the shares later slipped 7.8%.

2 sources. https://clstr.news/cluster/d-wave-quantum-receives-100-million-us-federal-investment-stock-jumps-49

### 2026-05-21: US Government Funding D-Wave; Qualcomm Shares Jump 5%

D-Wave jumps 33% on a $100 M U.S. government investment, while Qualcomm shares climb 5.4% in market trading.

2 sources. https://clstr.news/cluster/us-government-funding-d-wave-qualcomm-shares-jump-5

### 2026-05-17: D-Wave Quantum shares drop 6.6% following first‑quarter earnings

D-Wave Quantum stock fell 6.6% after its Q1 2026 earnings release.

184 sources. https://clstr.news/cluster/qualcomm-secures-hyperscale-ai-chip-deal-resumes-datacenter-push

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Cite as: D-Wave Quantum stock, funding, and commercial growth. CLSTR, https://clstr.news/situations/d-wave-quantums-share-price-swings-from-earnings-dip-to-governmentbacked-rally