D-Wave stock surged 49% in May after securing a $100M investment under the CHIPS Act, despite Q1 revenues plunging 81% to $2.9M with forward bookings up $30M. The Quantum Circuits Inc. acquisition broadens its annealing and gate-model platforms, though shares dipped 6% ahead of Quantinuum’s IPO.
D-Wave secured a $100 million commitment under the Department of Commerce’s CHIPS Act quantum computing initiative, driving its stock up 49% in May as investors priced in federal support for its technology development.
The company reported Q1 revenue of $2.9 million, down 81% year-over-year, but bolstered its order backlog with $30 million in new forward bookings, signaling improved enterprise demand for its systems.
The acquisition of Quantum Circuits Inc. integrates gate-model technology alongside D-Wave’s annealing systems, positioning the company with a dual-platform offering to address diverse quantum computing applications.
Quantum shares, including D-Wave, eased about 6% as the sector adjusted to Quantinuum’s upcoming IPO, reflecting investors’ cautious sentiment on valuation following a period of rapid share gains.
Seekingalpha
