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Q2 revenue surge and $100M federal R&D support announced
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Quantum Computing
Rigetti Computing Inc
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QatarD-Wave Quantum Secures Up to $100 Million in CHIPS Act Funding and New Deals
D-Wave Quantum has executed a definitive agreement with the U.S. Department of Commerce, based on its previously announced Letter of Intent, giving it access to up to $100 million in funding under the U.S. CHIPS and Science Act to accelerate research and development of its annealing and gate-model quantum systems. NTT DOCOMO, Japan's largest mobile operator, deployed a second D-Wave-powered quantum computing application in production, which cut location-registration signals generated when devices crossed tracking-area-list boundaries by 65.3% at the daily peak and reduced paging signals by 7.0%. D-Wave was also awarded up to CAD $300,000 from the National Research Council of Canada's Applied Quantum Computing Challenge program to advance annealing quantum computing software for commercial applications, and AT&T agreed to expand its use of D-Wave's quantum computing technology to address complex optimization challenges across its network operations. Separately, Rigetti plans to partner with HPE and Pittsburgh Supercomputing Center to build the TangleLab supercomputing testbed, delivering a 9-qubit Novera system to the testbed, which is funded by a $5 million National Science Foundation grant, while Quantum Computing signed a three-year framework agreement with Hamad Bin Khalifa University in Qatar covering quantum computing, quantum sensing and quantum communications. Over the past year, QBTS shares have lost 36.2% compared with the broader Internet Software industry's 5.8% decline, and the stock trades at a forward 12-month price-to-sales ratio of 93.25X versus the industry average of 4.40X.
About megatrends
Quantum Computing › Quantum Annealing ▲Demand
Quantum Computing › Quantum Hardware — Pure-plays Capital
Quantum Computing › Superconducting Qubits Technology
QBTS · Capital · Positive D-Wave secured a definitive agreement for up to $100M in CHIPS Act funding to accelerate its quantum R&D.
QBTS · Demand · Positive NTT DOCOMO deployed a second D-Wave-powered application in production and AT&T agreed to expand its use of D-Wave technology.
QUBT · Demand · Positive Quantum Computing signed a three-year framework agreement with Hamad Bin Khalifa University covering quantum computing, sensing and communications.
RGTI · Demand · Positive Rigetti plans to partner with HPE and Pittsburgh Supercomputing Center to build the TangleLab testbed, delivering a 9-qubit Novera system.
9432.JP · Demand · Positive NTT DOCOMO deployed a second D-Wave-powered quantum application in production, cutting location-registration and paging signals.
T · Demand · Positive AT&T agreed to expand its use of D-Wave's quantum computing technology for network optimization challenges.
United States▲
B. Riley Keeps Buy Ratings on IonQ, D-Wave and Rigetti Ahead of Quantum World Congress
B. Riley Securities is maintaining bullish ratings on IonQ, D-Wave Quantum and Rigetti Computing ahead of Quantum World Congress, betting that a shift in government policy from pure research toward commercialization could open a more meaningful revenue path for the quantum-computing sector. The firm kept Buy ratings with price targets of $100 for IonQ, $40 for D-Wave and $35 for Rigetti. Analyst Craig Ellis pointed to the Department of Energy's From Lab to Market session at the September 23-25 conference as a sign that federal policy may increasingly focus on moving quantum technologies into commercial applications. The event will also feature a two-hour National Quantum Updates session with more than 10 governments, participation from the White House Office of Science and Technology Policy, and back-to-back keynotes from Microsoft and IBM. B. Riley's thesis is sector-wide, but the report provides no fresh revenue forecasts, cash-flow estimates, technical milestones or new valuation work behind the three price targets, leaving the stocks dependent on long-term expectations rather than near-term financial evidence.
About megatrends
Quantum Computing › Quantum Hardware — Pure-plays ▲Regulation
Quantum Computing › Trapped-Ion ▲Regulation
Quantum Computing › Quantum Annealing ▲Regulation
Quantum Computing › Superconducting Qubits ▲Regulation
Quantum Computing › Quantum Hardware — Hyperscaler / Diversified Embedded Regulation
IONQ · Capital · Positive B. Riley maintains Buy rating and $100 price target on IonQ ahead of the conference
QBTS · Capital · Positive B. Riley maintains Buy rating and $40 price target on D-Wave ahead of the conference
RGTI · Capital · Positive B. Riley maintains Buy rating and $35 price target on Rigetti ahead of the conference
United StatesQatar▼
Rigetti Says Coherence Time, Not Qubit Count, Is Its Key Hurdle
Rigetti Computing said in its latest technology update that the biggest challenge in its quantum roadmap is no longer adding more qubits but improving the performance of its flagship 108-qubit Cepheus system. During the second quarter of 2026 earnings call, management acknowledged that coherence time has become the primary bottleneck limiting two-qubit gate fidelity, even as Cepheus-1-108Q stands among only three generally available gate-based quantum computers with more than 100 qubits. The system currently operates with coherence times of roughly 25-30 microseconds, a level that constrains the reliability of quantum operations. Rigetti is directing engineering efforts toward chip redesigns, fabrication process improvements and new materials, including tantalum-capped superconducting contacts, and management expects these initiatives to gradually double or even triple coherence times over the next several years. In peer updates, Quantum Computing Inc. signed a three-year Framework Agreement with Hamad Bin Khalifa University in Qatar covering quantum computing, sensing and communications, while IonQ secured an $8.18 million commercial agreement with Congruity360 to integrate quantum-safe networking into its enterprise data management platform.
About megatrends
Quantum Computing › Superconducting Qubits ▼Technology
Quantum Computing › Quantum Hardware — Pure-plays Technology
Quantum Computing › Quantum-Safe / Post-Quantum Cryptography ▲Demand
Quantum Computing › Quantum Networking & QKD ▲Demand
Quantum Computing › Trapped-Ion ▲Competition
RGTI · Technology · Neutral Rigetti said coherence time, not qubit count, is now its primary bottleneck, with 25-30 microsecond coherence constraining gate fidelity despite planned chip/material improvements.
IONQ · Demand · Positive IonQ secured an $8.18 million commercial agreement with Congruity360 for quantum-safe networking integration.
QUBT · Demand · Positive Quantum Computing Inc. signed a three-year Framework Agreement with Hamad Bin Khalifa University covering quantum computing, sensing and communications.
Congruity360 · Demand · Positive Congruity360 signed an $8.18 million commercial agreement with IonQ to integrate quantum-safe networking into its enterprise data management platform.
United States▲4
IBM Finalizes $1 Billion Federal Award for Anderon Quantum Foundry
IBM finalized a $1 billion Commerce Department award for its Anderon subsidiary, adding federal backing to its domestic quantum-chip manufacturing push. The company is putting another $1 billion of its own capital behind Anderon's 300-millimeter Albany foundry, taking the disclosed funding package to $2 billion before counting previous investment at the site. Early wafers are already moving through production, targeting superconducting qubits alongside the signaling and readout hardware needed to connect them, with more quantum architectures expected to follow. Shares fell 0.5% to $228.46, a price 5.91% below IBM's GF Value estimate of $242.80. Washington is covering half of the newly disclosed $2 billion commitment, but IBM has not disclosed outside customers, purchase commitments, expected utilization or revenue targets for the foundry.
About megatrends
Quantum Computing › Quantum Hardware — Hyperscaler / Diversified Embedded ▲Supply
Quantum Computing › Superconducting Qubits ▲Supply
Quantum Computing › Cryogenic, Control & Photonic Components ▲Supply
IBM · Capital · Positive IBM finalized a $1 billion Commerce Department award and is adding $1 billion of its own capital for its Anderon quantum foundry
United States▲5impact 4
IBM's Anderon Finalizes $1 Billion CHIPS Act Quantum Foundry Award
Anderon, an IBM subsidiary, finalized a $1 billion research-and-development award from the U.S. Department of Commerce on Wednesday under the 2022 CHIPS and Science Act. The funding will support Anderon's efforts to advance quantum wafer manufacturing at its facility in Albany, New York, where a 300-millimeter quantum wafer foundry serves customers across the quantum industry. IBM has put up $1 billion of its own money alongside the federal award, and production is underway with quantum wafers already in process. The Anderon award is part of a broader $2 billion package distributed across nine quantum computing companies under the CHIPS and Science Act, with GlobalFoundries in line for $375 million and D-Wave Quantum, Rigetti Computing, and Infleqtion each expected to receive $100 million; each of the nine firms will give the federal government a minority ownership stake in exchange for the funding. The finalization follows a letter of intent between IBM and the Commerce Department announced in May, and last week Rigetti Computing, D-Wave Quantum, and Quantinuum each finalized $100 million deals with the department. IBM stock fell 3.3% on Wednesday and has declined nearly 19% this year.
About megatrends
Quantum Computing › Quantum Hardware — Hyperscaler / Diversified Embedded ▲Capital
Semiconductors › Foundry & Contract Fabrication ▲Capital
Quantum Computing › Quantum Hardware — Pure-plays ▲Capital
Quantum Computing › Superconducting Qubits ▲Capital
Quantum Computing › Quantum Annealing ▲Capital
Quantum Computing › Cryogenic, Control & Photonic Components ▲Supply
Semiconductors › Wafer-Fab Equipment & Lithography ▲Demand
IBM · Regulation · Positive IBM's subsidiary Anderon finalized a $1 billion CHIPS Act R&D award, with IBM adding $1 billion of its own money.
INFQ · Regulation · Positive Infleqtion is expected to receive $100 million under the CHIPS Act quantum funding package.
QBTS · Regulation · Positive D-Wave Quantum is expected to receive $100 million under the CHIPS Act quantum package and recently finalized its deal.
RGTI · Regulation · Positive Rigetti Computing finalized its $100 million CHIPS Act award last week as part of the same package.
GFS · Regulation · Positive GlobalFoundries is in line for $375 million under the same CHIPS Act quantum funding package.
Japan▲
Mitsubishi Electric Launches Two Quantum Computing R&D Projects Selected by NEDO
Mitsubishi Electric Corporation announced that two of its research and development projects have been selected through a public solicitation by Japan's New Energy and Industrial Technology Development Organization, or NEDO, for support under an initiative to advance quantum computing and other information technology in the post-5G era. The NEDO project is officially known as the Research and Development Project to Strengthen Post-5G Information and Communication System Infrastructure, Accelerating the Development and Demonstration of Next-Generation Quantum Computers to Solve Societal Issues. Following the selection, Mitsubishi Electric will launch its two projects aimed at scaling up quantum computers: Research and Development of Multi-Qubit-Control Laser Systems, and Development of Ultra-Compact, Multi-Channel, Low-Noise Amplifier Modules for Large-Scale Superconducting Quantum Computers. The company said quantum computers are expected to revolutionize computing infrastructure by enabling larger-scale simulations and optimization than conventional computers in fields including medicine and drug discovery, finance, logistics and energy. Because qubits are fragile and highly susceptible to noise, technologies that combine multiple qubits are needed to correct errors, making scaling to the level of one million qubits a key challenge.
About megatrends
Quantum Computing › Cryogenic, Control & Photonic Components ▲Technology
Quantum Computing › Superconducting Qubits ▲Technology
6503.JP · Technology · Positive Mitsubishi Electric's two quantum computing R&D projects were selected by NEDO for support, advancing its qubit-scaling laser and amplifier technologies.