D-Wave Quantum Stock News

As quantum computing leader D-Wave Quantum Inc. NYSE: QBTS announced the completion of its $400-million at-the-market equity offering, the company's share price spiked by more than 19% in under a week.

Quantum computing stocks such as D-Wave Quantum (QBTS 5.32%) have been all the rage this year, with many seeing their stock prices soar. Investors are viewing the sector in a similar light to the early days of artificial intelligence.

D-Wave Quantum Inc. is a pre-profit, early-stage quantum computing company that specializes in quantum annealing systems. My DCF valuation points to D-Wave trading at a premium, but for good reason. Although this report recommends to Hold, any breakthroughs in quantum computing could be a positive catalyst for this stock.

Key Points in This Article: Quantum computing's potential to revolutionize industries like drug discovery and AI drives significant interest, with projections of a massive market by 2040.

D-Wave Quantum (QBTS 7.96%), an early mover in the quantum computing market, went public by merging with a special purpose acquisition company (SPAC) on Aug. 22, 2022. It started trading at $10, but it sank to a record low of $0.41 on May 12, 2023.

Rigetti and D-Wave will be able to break away from the pack, while Quantum Computing's technology poses a challenge, an analyst says.

Over the last couple of years, investors have witnessed a sharp rise in certain pockets of the technology realm thanks to rising interest in artificial intelligence (AI). Companies operating across industries such as semiconductors, enterprise software, and cloud computing have been particular beneficiaries of AI investment so far.

PALO ALTO, Calif.--(BUSINESS WIRE)--D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave” or the “Company”), a leader in quantum computing systems, software, and services, and the world's first commercial supplier of quantum computers, today announced that it has successfully completed sales of $400 million in gross proceeds of its common stock pursuant to its previously disclosed $400 million "at-the-mar...