TLDR
- D-Wave stock hit intraday record high of $20.56 after survey showed 53% of business leaders plan to incorporate quantum computing
- Company completed $400 million equity offering but was removed from Russell indexes
- Stock up 1,751% over past year though currently trades above analyst price target of $16.57
- Survey of 400 business leaders found 81% believe they’ve reached limits of classical computing optimization
- Other quantum stocks declined while D-Wave gained, with supply chain and logistics identified as key use cases
D-Wave Quantum shares reached a new intraday high Monday following the release of survey results showing growing business confidence in quantum computing technology.
The stock climbed to $20.56 during trading, marking a record for the quantum computing company. D-Wave closed up 1.4% at $19.15.
The surge came after D-Wave published survey results conducted with Wakefield Research in May. The survey polled 400 business leaders across North America, Europe, and the Indo-Pacific region.
Results showed 53% of respondents plan to add quantum computing to their workflows. Another 27% said they were considering the move.
Most survey participants were already familiar with quantum computing technology. This suggests the interest comes from informed decision-makers rather than speculative enthusiasm.
Business Leaders See Classical Computing Limits
The survey revealed that 81% of business leaders believe they have reached the optimization limits of classical computers. This finding points to real business needs driving quantum adoption.
Supply chain and logistics emerged as the top area where companies expect quantum computing benefits. Manufacturing ranked as the second most promising application.
These practical use cases differ from the scientific problems typically used to demonstrate quantum supremacy in research settings. Companies appear focused on business optimization rather than theoretical breakthroughs.
D-Wave and competitors like Honeywell-owned Quantinuum have shown success with materials modeling and random number generation tasks. However, commercial clients seem more interested in operational improvements.
Capital Raise and Market Performance
D-Wave recently completed a $400 million equity offering, providing substantial capital for operations and growth. The company was removed from several Russell indexes around the same time.
Index removals can reflect changes in how markets view a stock’s stability or value. However, the large capital infusion may support future development efforts.
The stock has delivered exceptional returns over the past year. Shares gained 1,751% compared to just 26.3% for the broader US software industry.
Analyst Concerns Over Valuation
Despite the strong performance, D-Wave’s current share price exceeds the consensus analyst price target of $16.57. This suggests potential overvaluation relative to market expectations.
The company remains unprofitable, which raises questions about near-term earnings prospects. Revenue growth is forecast to increase 35% annually, though this hasn’t translated to profitability yet.
While D-Wave gained Monday, other pure-play quantum stocks declined. IonQ fell 3%, Rigetti Computing dropped 3.3%, and Quantum Computing declined 5.8%.
Global Survey Trends
The D-Wave survey aligns with other industry research. QuEra conducted a similar poll of 770 academics and industry participants in December 2024.
That survey found over 65% of organizations felt prepared to adopt quantum computing within two to three years. Most respondents were US academics, but the results showed similar confidence levels.
The QuEra research also indicated quantum usage was expected to grow faster in Asia. Respondents anticipated 27.3% growth there compared to 16% in Europe and the US.
Both surveys suggest quantum computing is moving beyond laboratory research toward practical business applications. The technology appears to be gaining traction with decision-makers who control corporate technology budgets.
The latest survey results show business leaders expect quantum computing to address real operational challenges. Current share price of $18.89 reflects investor optimism about commercial quantum adoption timelines.
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