← D-Wave Quantum Inc. Common Stock overview

D-Wave Quantum Inc. Common Stock vs Fujitsu: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

D-Wave Quantum Inc. Common Stock (QBTS)

Q3 2026
▲2▼2

D-Wave Q3: Government Backing and Deals vs. Revenue Miss and Rich Valuation

  • Government validation and potential stake D-Wave was named a Leader by IDC MarketScape, and there is over 60% odds of a U.S. government stake. It also secured a $100M CHIPS Act grant with a minority government stake, boosting credibility.

    Government validation and funding are major positive forces for the stock.

  • Commercial traction and analyst upgrade Bookings surged over 1,120% to $35.5M, backlog hit $40.7M, and BMO initiated coverage with an Outperform rating. NTT DOCOMO and AT&T deployed real production applications, showing commercial progress.

    Strong bookings and real deployments indicate growing demand for D-Wave's technology.

  • Revenue miss and CFO retirement Revenue fell 81% and then missed estimates at $3.1M, while the CFO announced retirement. These operational setbacks raised concerns about execution and financial stability.

    Revenue miss and leadership change are negative signals for investors.

  • Extreme valuation and competitive pressures D-Wave trades at 93x forward sales versus the industry's 4.4x, and the competitive gap with IonQ and Quantinuum is widening. Geopolitical and AI sell-off pressures also weighed, with shares down 36% over the past year.

    High valuation and competitive threats are key risks that dragged the stock down.

September 2026
▲3

D-Wave Wins $100M CHIPS Grant and Expands Customer Deployments

  • Finalized $100M CHIPS Act grant D-Wave signed a definitive agreement for up to $100 million in U.S. CHIPS Act funding, with the government taking a minority stake. This gives the company cash to develop bigger quantum systems without selling more shares, easing worries about running out of money.

    This is the period's biggest new event and directly boosts D-Wave's capital position.

  • NTT DOCOMO and AT&T expand real-world use NTT DOCOMO put a second D-Wave-powered app into daily production, cutting network signals by 65%, and AT&T agreed to expand its use of D-Wave technology. Real customers using the product in daily operations supports the case that demand is genuine, not just experimental.

    Shows commercial traction with major customers, a key driver of future revenue.

  • Canadian research grant adds funding D-Wave received up to CAD $300,000 from Canada's National Research Council to advance its annealing quantum software for commercial use. While small, it adds outside validation and funding for its core technology, helping support the stock's narrative.

    Another new source of non-dilutive funding and external validation for D-Wave's approach.

  • Sector rally on IonQ error decoder, but valuation still extreme IonQ's first real-time quantum error decoder lifted the whole quantum sector, with D-Wave up over 5.5% in sympathy. But D-Wave still trades at 93 times forward sales versus the industry's 4.4, and its shares are down 36% over the past year, a reminder of high risk.

    Captures the positive sector sentiment while flagging the real counterweight of extreme valuation and weak long-term stock performance.

Latest
▲3

D-Wave Wins $100M CHIPS Grant and Expands Customer Deployments

  • Finalized $100M CHIPS Act grant D-Wave signed a definitive agreement for up to $100 million in U.S. CHIPS Act funding, with the government taking a minority stake. This gives the company cash to develop bigger quantum systems without selling more shares, easing worries about running out of money.

    This is the period's biggest new event and directly boosts D-Wave's capital position.

  • NTT DOCOMO and AT&T expand real-world use NTT DOCOMO put a second D-Wave-powered app into daily production, cutting network signals by 65%, and AT&T agreed to expand its use of D-Wave technology. Real customers using the product in daily operations supports the case that demand is genuine, not just experimental.

    Shows commercial traction with major customers, a key driver of future revenue.

  • Canadian research grant adds funding D-Wave received up to CAD $300,000 from Canada's National Research Council to advance its annealing quantum software for commercial use. While small, it adds outside validation and funding for its core technology, helping support the stock's narrative.

    Another new source of non-dilutive funding and external validation for D-Wave's approach.

  • Sector rally on IonQ error decoder, but valuation still extreme IonQ's first real-time quantum error decoder lifted the whole quantum sector, with D-Wave up over 5.5% in sympathy. But D-Wave still trades at 93 times forward sales versus the industry's 4.4, and its shares are down 36% over the past year, a reminder of high risk.

    Captures the positive sector sentiment while flagging the real counterweight of extreme valuation and weak long-term stock performance.

August 2026
▲2▼2

D-Wave's bookings surge but revenue miss and CFO exit weigh

  • Commercial momentum accelerates D-Wave's first-half bookings jumped over 1,120% to $35.5 million, backlog rose nearly eightfold to $40.7 million, and six customer apps are now in daily production use. AT&T expanded from trial to full deployment, and a Nasdaq Verafin fraud-detection collaboration lifted shares 11%.

    This shows the core positive force behind the stock: rapidly growing commercial traction and customer adoption.

  • Analyst initiation with bullish rating BMO initiated coverage with an Outperform rating and a $35 price target, signaling growing analyst confidence in D-Wave's business prospects.

    A new analyst endorsement can influence investor sentiment and demand for the stock.

  • Revenue miss and CFO retirement Q2 revenue stayed flat at $3.1 million, missing the $4.03 million estimate, and losses disappointed. CFO John Markovich announced his retirement, sending shares down 8%.

    These are key negative events that pressured the stock during the period.

  • Competitive gap widens Rivals IonQ and Quantinuum are pulling ahead on accuracy and revenue growth—IonQ's sales jumped 287% to $80 million—raising doubts about D-Wave's annealing approach and near-term execution.

    Competitive pressures can undermine investor confidence and future growth prospects.

▲2▼2

D-Wave's bookings surge and Wall Street backing offset weak sales and CFO exit

  • BMO starts coverage with Outperform and $35 target BMO Capital Markets began covering D-Wave with a buy rating and a $35 price target, pointing to a huge potential market. A big broker's backing draws new investors and supports the stock, even though the company is still small and unprofitable.

    A new analyst endorsement is a fresh force that can pull money into the stock.

  • Backlog grows eightfold as customers move to production D-Wave's contracted backlog jumped nearly eightfold to $40.7 million, and first-half bookings hit $35.5 million — six times the revenue it booked. Six customer apps are now in daily use, including AT&T and NTT DOCOMO, showing real demand even though reported sales are still tiny.

    This is the core demand signal that explains why investors still value the stock despite weak revenue.

  • CFO retires and Q2 revenue misses estimates D-Wave's CFO John Markovich will retire September 2, and the company reported Q2 revenue of $3.08 million, missing the $4.03 million analysts expected. The stock fell 8% on the news. A sudden finance-chief exit and a sales shortfall raise doubts about near-term execution.

    This is the main new negative event that pushed the stock down this period.

  • Rivals IonQ and Quantinuum pull ahead on accuracy and sales IonQ and Quantinuum are winning attention with far more accurate trapped-ion machines and much faster revenue growth — IonQ's sales jumped 287% to $80 million. D-Wave's annealing approach lags on accuracy, so investors worry it could lose the race and keep money flowing to rivals instead.

    Competitive gap is a persistent drag that shapes how investors compare D-Wave with peers.

▲3▼1

D-Wave's bookings surge and AT&T expansion offset weak revenue and IonQ competition

  • Nasdaq Verafin fraud detection deal D-Wave announced a collaboration with Nasdaq Verafin to build quantum-hybrid fraud detection tools, sending the stock up 11%. A major financial-industry partner shows its technology is being adopted for real business problems, which supports demand and lifts the shares.

    This is a new commercial partnership that directly drove the stock higher and signals growing demand.

  • AT&T moves from test to full deployment AT&T expanded its D-Wave use from a trial to broad deployment across network operations, adding tasks like outage detection and technician routing. This validates the platform with a major customer and points to more contracts, pushing the stock up.

    This is a new stage of the AT&T relationship that confirms real-world demand and supports future revenue.

  • Bookings and future revenue jump First-half bookings surged over 1,120% to $35.5 million and remaining performance obligations hit $40.7 million, up 668%. More commercial and Fortune 2000 customers are buying, which signals future revenue and gives investors confidence, even though reported revenue was flat.

    These new metrics show demand is accelerating and are a key reason investors look past weak current revenue.

  • Weak revenue and IonQ competition Q2 revenue stayed flat at $3.1 million and the quarterly loss missed estimates, while rival IonQ grew revenue far faster and is seen as the better buy. This contrast raises doubts about D-Wave's near-term sales and pressures the stock.

    This is the main counterweight: weak reported revenue and a stronger competitor that could pull investor money away.

July 2026
▲2▼2

D-Wave gains validation but faces valuation and revenue risks

  • IDC MarketScape Leader and government stake odds IDC named D-Wave a MarketScape Leader, and prediction market Kalshi gave over 60% odds of a U.S. government stake. These endorsements boost credibility and could lead to more contracts or funding.

    This point highlights new validation that supports the stock price.

  • Quantum Circuits acquisition and AT&T partnership expansion D-Wave acquired Quantum Circuits to add gate-model computing and expanded its AT&T partnership, cutting a network task from an hour to 15 seconds. These moves strengthen its technology and commercial reach.

    This point shows strategic progress that could drive future growth.

  • Extreme valuation and revenue plunge The stock trades at over 700 times sales, and quarterly revenue fell 81% to $2.9 million. Such a high valuation with shrinking revenue raises concerns about sustainability and near-term performance.

    This point explains a major risk weighing on the stock.

  • Geopolitical tensions and AI sell-off Quantum stocks were hit by Strait of Hormuz tensions and a broader sell-off in AI infrastructure. These external factors pressured D-Wave shares despite company-specific positives.

    This point identifies external market forces that hurt the stock.

▲2▼2

AT&T deal drives D-Wave higher, but weak revenue and AI sell-off weigh

  • AT&T expands D-Wave partnership AT&T signed a wider deal to use D-Wave's quantum computers in its network, cutting a key task from an hour to 15 seconds. This real-world use shows demand and could lead to more contracts, pushing the stock up.

    This is the main new positive event that directly lifted QBTS shares this period.

  • Quarterly revenue plunges 81% D-Wave's quarterly revenue fell 81% to $2.9 million, showing weak product sales. Even though bookings jumped, the low revenue raises doubts about near-term growth, weighing on the stock.

    This new negative data point explains why the stock remains under pressure despite the AT&T deal.

  • AI infrastructure sell-off hits quantum stocks A broad sell-off in AI infrastructure stocks spilled into quantum names, dragging D-Wave down. Worries about hyperscaler spending and Nvidia's OpenAI financing spooked investors, pressuring the whole sector.

    This new sector-wide pullback is a key reason QBTS declined this period.

  • CEO warns quantum will break Bitcoin D-Wave's CEO said quantum computing will eventually break Bitcoin's security. While not a direct business deal, it highlights the power of D-Wave's technology and keeps the company in the news, which can draw investor attention.

    This new statement adds to the narrative around D-Wave's technological relevance, a potential positive driver.

▲3▼1

D-Wave Wins Industry Recognition, Government Stake Odds Rise, But Valuation and Risk-Off Weigh

  • IDC MarketScape Leader D-Wave was named a Leader in the IDC MarketScape quantum computing assessment, one of only two companies. This independent recognition validates its commercial deployments and technology, boosting investor confidence and supporting a higher stock price.

    This is a new, company-specific positive event that directly enhances D-Wave's credibility and growth outlook.

  • Government Stake Odds Kalshi traders see over 60% odds that the U.S. government takes a stake in D-Wave this year. Such a move would provide capital and strategic backing, potentially lifting the stock as investors bet on government support.

    This new market-based signal suggests a potential catalyst that could significantly boost D-Wave's resources and credibility.

  • Quantum Circuits Acquisition D-Wave acquired Quantum Circuits Inc. to add gate-model computing to its annealing technology, broadening its platform. This strategic move positions D-Wave to compete more effectively and capture a larger market, supporting long-term growth.

    The acquisition is a new strategic development that expands D-Wave's technology and competitive position.

  • Valuation and Risk-Off D-Wave trades at over 700 times sales, raising valuation concerns. On July 13, quantum stocks fell 6% on risk-off selling from Strait of Hormuz tensions. These factors create downward pressure despite positive fundamentals.

    This highlights the main counterweights: extreme valuation and broad market risk aversion that can drag the stock down.

Q2 2026
▲3

D-Wave gains on $100M CHIPS funding, new simulator, and quantum-friendly executive orders

  • CHIPS Act funding and 100-qubit roadmap D-Wave secured up to $100 million in U.S. CHIPS Act funding and set a roadmap to reach 100 logical qubits by 2032. This direct federal support gives the company cash to develop its technology and signals government confidence, both of which support a higher stock price.

    This is a major new capital and technology catalyst that directly boosts D-Wave's resources and credibility.

  • New gate-model simulator launch D-Wave launched a gate-model quantum simulator on its Leap cloud platform, letting developers test gate-model ideas before hardware is ready. The stock jumped 7.7% on the news, as it shows progress on the company's dual annealing and gate-model strategy.

    This is a new product milestone that expands D-Wave's addressable market and was directly linked to a same-day stock gain.

  • Trump executive orders accelerate quantum adoption President Trump signed two executive orders to speed up U.S. quantum computing and quantum-resistant encryption, including a goal for a powerful quantum computer by 2028. D-Wave shares rose 2.3% on the news, as government backing can lead to more contracts and funding.

    This is a new regulatory catalyst that benefits the entire quantum sector, including D-Wave, and was cited in multiple articles.

  • Commercial traction vs. competitive and insider pressures D-Wave's Q1 bookings surged nearly 20x to $33.4 million, but the stock is down 23% year to date as investors favor peers like IonQ and insider sales hit $36 million. The market is rewarding proven revenue growth, and D-Wave's strong bookings may eventually win back favor.

    This captures the key tension: strong bookings and analyst estimate raises versus competitive rotation and insider selling, giving a fair picture of what's driving the stock.

June 2026
▲3

D-Wave gains on $100M CHIPS funding, new simulator, and quantum-friendly executive orders

  • CHIPS Act funding and 100-qubit roadmap D-Wave secured up to $100 million in U.S. CHIPS Act funding and set a roadmap to reach 100 logical qubits by 2032. This direct federal support gives the company cash to develop its technology and signals government confidence, both of which support a higher stock price.

    This is a major new capital and technology catalyst that directly boosts D-Wave's resources and credibility.

  • New gate-model simulator launch D-Wave launched a gate-model quantum simulator on its Leap cloud platform, letting developers test gate-model ideas before hardware is ready. The stock jumped 7.7% on the news, as it shows progress on the company's dual annealing and gate-model strategy.

    This is a new product milestone that expands D-Wave's addressable market and was directly linked to a same-day stock gain.

  • Trump executive orders accelerate quantum adoption President Trump signed two executive orders to speed up U.S. quantum computing and quantum-resistant encryption, including a goal for a powerful quantum computer by 2028. D-Wave shares rose 2.3% on the news, as government backing can lead to more contracts and funding.

    This is a new regulatory catalyst that benefits the entire quantum sector, including D-Wave, and was cited in multiple articles.

  • Commercial traction vs. competitive and insider pressures D-Wave's Q1 bookings surged nearly 20x to $33.4 million, but the stock is down 23% year to date as investors favor peers like IonQ and insider sales hit $36 million. The market is rewarding proven revenue growth, and D-Wave's strong bookings may eventually win back favor.

    This captures the key tension: strong bookings and analyst estimate raises versus competitive rotation and insider selling, giving a fair picture of what's driving the stock.

▲3

D-Wave gains on $100M CHIPS funding, new simulator, and quantum-friendly executive orders

  • CHIPS Act funding and 100-qubit roadmap D-Wave secured up to $100 million in U.S. CHIPS Act funding and set a roadmap to reach 100 logical qubits by 2032. This direct federal support gives the company cash to develop its technology and signals government confidence, both of which support a higher stock price.

    This is a major new capital and technology catalyst that directly boosts D-Wave's resources and credibility.

  • New gate-model simulator launch D-Wave launched a gate-model quantum simulator on its Leap cloud platform, letting developers test gate-model ideas before hardware is ready. The stock jumped 7.7% on the news, as it shows progress on the company's dual annealing and gate-model strategy.

    This is a new product milestone that expands D-Wave's addressable market and was directly linked to a same-day stock gain.

  • Trump executive orders accelerate quantum adoption President Trump signed two executive orders to speed up U.S. quantum computing and quantum-resistant encryption, including a goal for a powerful quantum computer by 2028. D-Wave shares rose 2.3% on the news, as government backing can lead to more contracts and funding.

    This is a new regulatory catalyst that benefits the entire quantum sector, including D-Wave, and was cited in multiple articles.

  • Commercial traction vs. competitive and insider pressures D-Wave's Q1 bookings surged nearly 20x to $33.4 million, but the stock is down 23% year to date as investors favor peers like IonQ and insider sales hit $36 million. The market is rewarding proven revenue growth, and D-Wave's strong bookings may eventually win back favor.

    This captures the key tension: strong bookings and analyst estimate raises versus competitive rotation and insider selling, giving a fair picture of what's driving the stock.

Fujitsu Limited (6702.JP)

Q3 2026
▲4

Fujitsu joins Nvidia AI, regains UK contracts, advances quantum

  • Nvidia physical AI coalition Fujitsu joined Nvidia's physical AI coalition with Fanuc, Yaskawa, and Kawasaki, backed by over ¥380bn in government support, positioning it in industrial robotics and AI.

    This is a major new partnership that could drive future revenue and market sentiment.

  • UK contract eligibility restored Fujitsu regained eligibility for UK government contracts, including a £61m HMRC renewal, easing uncertainty from the Horizon scandal and preserving a key revenue stream.

    This removes a major overhang and secures ongoing business in a key market.

  • Palantir and defense partnerships Fujitsu became Palantir's Global FDE Partner and signed an MOU with GA-ASI on MQ-9B drone maintenance, expanding into defense and AI services.

    These partnerships open new high-value markets and enhance Fujitsu's tech credentials.

  • Quantum computing advance Fujitsu advanced quantum computing as NEC exited hardware, unveiling a warmer-temperature diamond-spin prototype targeting 250 logical qubits by 2030, though revenues are long-dated.

    This positions Fujitsu as a quantum leader, but execution and commercialization remain uncertain.

September 2026
▲5

Fujitsu's Quantum Leap and Defense/AI Alliances Reshape Growth Story

  • Fujitsu signs MOU with US defense giant GA-ASI for UAV maintenance Fujitsu will explore maintaining and supporting the MQ-9B surveillance drones that Japan's military plans to deploy from 2027. This opens a new defense-services revenue stream and strengthens Fujitsu's ties to Japan's defense buildup, which can lift long-term earnings expectations.

    New defense contract expands Fujitsu's addressable market and supports future revenue growth.

  • NEC exits quantum hardware, leaving Fujitsu as Japan's leader NEC is stopping development of quantum computer hardware because it sees no cost-effective path. That removes a major domestic rival and leaves Fujitsu, which built one of the world's largest quantum computers with RIKEN in 2025, in a stronger position to win government and corporate quantum projects.

    Reduced competition strengthens Fujitsu's relative position in quantum computing.

  • Fujitsu unveils world's first diamond-spin quantum computer prototype Fujitsu demonstrated a working prototype that operates at a much warmer temperature than typical quantum machines and works with its existing platform. This milestone supports its roadmap to 250 logical qubits by 2030 and 1,000 by 2035, boosting its technological edge and long-term growth prospects.

    Major technological breakthrough reinforces Fujitsu's leadership in quantum computing.

  • Palantir renews partnership, Fujitsu becomes Global FDE Partner Fujitsu will invest in building Forward Deployed Engineering teams to help customers use Palantir's AI tools, bringing its own AI like Takane. This deepens a high-value partnership that has already delivered big savings for clients, supporting Fujitsu's AI services revenue and market position.

    Expanded AI partnership drives demand for Fujitsu's services and strengthens its AI credentials.

  • Fujitsu joins physical AI alliance with robot makers and Nvidia Fujitsu is partnering with Kawasaki, Fanuc, Yaskawa, and Nvidia on physical AI, where robots learn to act autonomously. The government is backing the effort with over 380 billion yen. This positions Fujitsu in a high-growth field and could open new industrial automation revenue streams.

    New cross-industry alliance with government backing expands Fujitsu's opportunities in physical AI.

Latest
▲5

Fujitsu's Quantum Leap and Defense/AI Alliances Reshape Growth Story

  • Fujitsu signs MOU with US defense giant GA-ASI for UAV maintenance Fujitsu will explore maintaining and supporting the MQ-9B surveillance drones that Japan's military plans to deploy from 2027. This opens a new defense-services revenue stream and strengthens Fujitsu's ties to Japan's defense buildup, which can lift long-term earnings expectations.

    New defense contract expands Fujitsu's addressable market and supports future revenue growth.

  • NEC exits quantum hardware, leaving Fujitsu as Japan's leader NEC is stopping development of quantum computer hardware because it sees no cost-effective path. That removes a major domestic rival and leaves Fujitsu, which built one of the world's largest quantum computers with RIKEN in 2025, in a stronger position to win government and corporate quantum projects.

    Reduced competition strengthens Fujitsu's relative position in quantum computing.

  • Fujitsu unveils world's first diamond-spin quantum computer prototype Fujitsu demonstrated a working prototype that operates at a much warmer temperature than typical quantum machines and works with its existing platform. This milestone supports its roadmap to 250 logical qubits by 2030 and 1,000 by 2035, boosting its technological edge and long-term growth prospects.

    Major technological breakthrough reinforces Fujitsu's leadership in quantum computing.

  • Palantir renews partnership, Fujitsu becomes Global FDE Partner Fujitsu will invest in building Forward Deployed Engineering teams to help customers use Palantir's AI tools, bringing its own AI like Takane. This deepens a high-value partnership that has already delivered big savings for clients, supporting Fujitsu's AI services revenue and market position.

    Expanded AI partnership drives demand for Fujitsu's services and strengthens its AI credentials.

  • Fujitsu joins physical AI alliance with robot makers and Nvidia Fujitsu is partnering with Kawasaki, Fanuc, Yaskawa, and Nvidia on physical AI, where robots learn to act autonomously. The government is backing the effort with over 380 billion yen. This positions Fujitsu in a high-growth field and could open new industrial automation revenue streams.

    New cross-industry alliance with government backing expands Fujitsu's opportunities in physical AI.

July 2026
▲3

Fujitsu joins Nvidia's physical AI push; UK bidding stays open

  • Fujitsu leads physical AI business exploration with Nvidia Fujitsu began exploring physical AI business with Fanuc, Yaskawa, and Kawasaki using Nvidia technology, aiming to bridge digital and physical worlds. This positions Fujitsu at the center of a potentially large new market, supporting future revenue growth and lifting investor optimism.

    This is the core new event directly involving Fujitsu and its new business direction.

  • Fujitsu joins Nvidia's Cosmos Coalition for physical AI Fujitsu is one of seven Japanese industrial giants joining Nvidia's physical AI coalition, building on Nvidia's platforms. This locks Fujitsu into a long-term AI ecosystem, boosting its technology credentials and potential order pipeline, which supports the stock's growth narrative.

    This is a new coalition announcement that expands Fujitsu's role and future demand prospects.

  • UK allows Fujitsu to bid for government contracts again Fujitsu remains eligible to bid for UK government work and is pursuing renewals, including a £61m HMRC contract, despite the Horizon scandal. This reduces uncertainty over a key customer, supporting revenue stability and removing a regulatory overhang that had weighed on the shares.

    This is a new development that directly affects Fujitsu's UK public sector demand and removes a negative overhang.

▲3

Fujitsu joins Nvidia's physical AI push; UK bidding stays open

  • Fujitsu leads physical AI business exploration with Nvidia Fujitsu began exploring physical AI business with Fanuc, Yaskawa, and Kawasaki using Nvidia technology, aiming to bridge digital and physical worlds. This positions Fujitsu at the center of a potentially large new market, supporting future revenue growth and lifting investor optimism.

    This is the core new event directly involving Fujitsu and its new business direction.

  • Fujitsu joins Nvidia's Cosmos Coalition for physical AI Fujitsu is one of seven Japanese industrial giants joining Nvidia's physical AI coalition, building on Nvidia's platforms. This locks Fujitsu into a long-term AI ecosystem, boosting its technology credentials and potential order pipeline, which supports the stock's growth narrative.

    This is a new coalition announcement that expands Fujitsu's role and future demand prospects.

  • UK allows Fujitsu to bid for government contracts again Fujitsu remains eligible to bid for UK government work and is pursuing renewals, including a £61m HMRC contract, despite the Horizon scandal. This reduces uncertainty over a key customer, supporting revenue stability and removing a regulatory overhang that had weighed on the shares.

    This is a new development that directly affects Fujitsu's UK public sector demand and removes a negative overhang.

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